VA Home Loan Program Reform Act

This bill lets the Department of Veterans Affairs (VA) step in and make payments to lenders to help prevent veterans from losing their homes to foreclosure, as long as the VA gets a secured interest in the property. It also creates a Partial Claim Program, where the VA can buy a portion of what a veteran owes on a defaulted or nearly defaulted home loan, but the veteran is still responsible for paying back the VA if they default again. The bill requires the VA to follow specific steps to help veterans avoid foreclosure before taking other actions, and it also requires the VA to report to Congress on how it plans to make sure veterans aren't at a disadvantage when trying to find a real estate agent to help them buy a home.

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