Bill
Bill > HR2963
US HR2963
US HR2963FAIR Veterans Act of 2025 Foreclosure Assistance Immediately Reinstated for Veterans Act of 2025
summary
Introduced
04/07/2025
04/07/2025
In Committee
04/17/2025
04/17/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A BILL To express the sense of Congress regarding the exercise by the Department of Veterans Affairs of the authority under the Veterans Affairs Servicing Purchasing program, and for other purposes.
AI Summary
This bill, known as the "FAIR Veterans Act of 2025", expresses Congressional guidance about foreclosure prevention for veterans with VA-guaranteed home loans. Specifically, Congress believes that foreclosure should be a last resort for veterans and encourages the Department of Veterans Affairs (VA) to use its existing legal authorities, particularly under section 3732(a)(2), to help veterans keep their homes. The bill clarifies the Veterans Affairs Servicing Purchasing (VASP) program by modifying the language to explicitly state that the VA Secretary can pay the outstanding balance of a loan and receive an assignment of the loan and its security, with the goal of preventing unnecessary home foreclosures for veterans. The amendment aims to provide the VA with more flexibility to intervene and assist veterans who are struggling to maintain mortgage payments, emphasizing a proactive approach to preserving homeownership for those who have served in the military.
Committee Categories
Military Affairs and Security
Sponsors (1)
Last Action
Referred to the House Committee on Veterans' Affairs. (on 04/17/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/house-bill/2963/all-info |
| BillText | https://www.congress.gov/119/bills/hr2963/BILLS-119hr2963ih.pdf |
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