The Department of Veterans Affairs has issued a new policy to protect veteran homeowners from predatory lending.
The Economic Growth, Regulatory Relief and Consumer Protection Act of May 2018 protects veteran homeowners from predatory lending practices when obtaining a VA-guaranteed refinance loan. The VA Home Loan program works to maximize opportunities for veterans and servicemembers to obtain, retain, and adapt homes by providing fiscally responsible benefits in recognition of their service.
“We want to ensure veterans have the informed ability to take advantage of economic opportunities and make sound decisions that enable them to prosper when using their benefits,” said Peter O'Rourke, acting VA Secretary. “This is yet another tool that will help veterans meet their personal goals.”
Read the story here: http://www.moaa.org/Content/Publications-and-Media/News-Articles/2018-News-Articles/VA-issues-new-policy-to-protect-veteran-homeowners-from-predatory-lending.aspx