What if you can no longer afford the monthly payment on your VA home loan? Here are some tips: (1) make sure to call your mortgage servicer immediately and ask for assistance; (2) prepare evidence of financial distress. Be prepared to show copies of your most recent bank statements, and credit card bills; (3) try counseling. Call 877-827-3702 to find a VA counselor near you; and (4) if your lender cannot make a loan modification, consider selling your home through a short sale, or by requesting a deed in lieu of foreclosure from your lender. For more information, contact your nearest VA Regional Loan Center and read the VA VAntage Point Blog.
For more VA loan guides and tips, visit the Military.com VA Loan section.