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Veterans Pay Debts While Reality TV Elites Get Pardons

  • Last month, the Department of Veterans Affairs abruptly ended the VA Servicing Purchase program designed to help veterans facing foreclosure on VA-backed loans.
  • The Trump administration created VASP in April 2022 to assist veterans with troubled loans by offering low-interest-rate mortgages, but concerns about its multi-billion-dollar cost led to its cancellation.
  • VASP helped over 33,000 veterans secure new loans at about 2.5% interest, much lower than current average mortgage rates near 7%, yet around 80,000 veterans remain behind on payments and risk foreclosure.
  • VA Secretary Doug Collins defended ending VASP, calling it unnecessary, while lawmakers and veterans expressed fear and frustration over losing a critical safety net without a ready replacement.
  • Congress has passed one bill and introduced two others aiming to create a new home loan safety net, but the timeline and how many veterans will lose homes remain uncertain during the transition.
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npr broke the news in Washington, United States on Thursday, June 19, 2025.
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