Section 1 Short title
This Act may be cited as the “Foreclosure Assistance Immediately Reinstated for Veterans Act of 2025” or the “FAIR Veterans Act of 2025”.
Foreclosure Assistance Immediately Reinstated for Veterans Act of 2025
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.
Sec. 2 Sense of Congress regarding Department of Veterans Affairs exercise of authority under Veterans Affairs Servicing Purchasing program
Sense of Congress— It is the sense of Congress that—
the foreclosure on a home purchased by a veteran with a loan guaranteed by the Department of Veterans Affairs should be the last resort; and
the Department should use the authority under section 3732(a)(2) of title 38, United States Code, and other authorities under the laws administered by the Secretary to help as many veterans as possible keep their homes.
Clarification regarding VASP program— Section 3732(a)(2)(A) of title 38, United States Code, is amended by striking “Before” and inserting “The Secretary shall carry out a program under which the Secretary may pay the holder of the obligation the unpaid balance of the obligation plus accrued interest and receive an assignment of the loan and security. To participate in the program, before”.