Ignite FB Tracking PixelOptions for Veteran Mortgage Relief to Consider - Judy and Bob Holder
KW Coastal And Lakes & Mountains Realty
KW Coastal And Lakes & Mountains Realty
Judy and Bob Holder, KW Coastal And Lakes & Mountains RealtyPhone: (603) 801-4193
Email: [email protected]

Options for Veteran Mortgage Relief to Consider

by Judy and Bob Holder 06/17/2024

If you have a VA loan, the U.S. government has options in place to assist you in case of financial hardship. There are multiple programs available to help you avoid late payments and foreclosure if your mortgage meets eligibility. Here are the major veteran mortgage relief options to know:

Refund Modification

A refund modification affects the principal and interest on your existing VA loan. This option allows the Department of Veteran Affairs to purchase any past-due payment and principal loan balance, given the amount falls within certain limits. Refund modification can result in an overall reduction of both principal and interest by up to 20%.

Partial Claim Option

A partial claim program helps cover you in a scenario where you can make current payments, but have accrued a past-due balance. With a partial claim option, you can resume your regular monthly payments again as soon as you're financially able, while any unpaid late payments are taken over by the VA. You'll owe the amount at the end of the mortgage, but it will not accrue interest while the VA holds it.

Loan Deferment

Loan deferment is one of the simplest mortgage relief options available to veterans. A loan deferment creates an agreed-upon period when you don't have to make regular payments on either principal or interest. It's essentially a "pause" on your mortgage until the end of the deferment period, without any interest accruing during the deferment time.


Loan forbearance is very similar to deferment with one crucial difference. If you receive loan forbearance, you can pause making your mortgage payments for an agreed-upon time period, but interest will continue to build. While forbearance can be an excellent way to mitigate financial hardship in the short term, it can sometimes result in paying higher than the original required amount due to the continuing interest.

All of these options are great ways to avoid foreclosure and late mortgage payments. Remember these programs if you need mortgage relief.

About the Author

Judy and Bob Holder

Holder Home Team

I am licensed in both Massachusetts & New Hampshire and Judy takes care of the creative part of things and together we are experts in this local area, we bring a wealth of knowledge and expertise about buying and selling real estate here. It's not the same everywhere, so you need someone you can trust for up-to-date information. We are eager to serve you. Here are some of the things we can do for you:

Find Your Next Home

You need someone who knows this area inside and out! We can work with you to find the right home at the right price for you, including all the neighborhood amenities that matter - not to mention the essential criteria you have for your ideal home

Sell a Home

When it's time to move, you need someone who will advertise your home, show to prospective buyers, negotiate the purchase contract, arrange financing, oversee the inspections, handle all necessary paperwork and supervise the closing. We can take care of everything you need, from start to close.

Consult on Home Selling Tactics

Oftentimes buyers don't visualize living in your home the way you do. We can make your home attractive to its ideal audience - which can help you get top dollar. Things like staging the home, making repairs or minor improvements, or even simply painting the walls can be the difference between a home resting on the market and one that's sold fast.