FOR IMMEDIATE RELEASE - Sudden Termination of Federal VASP Program Puts Thousands of Veteran Families at Immediate Risk of Foreclosure
- keepourvetshoused
- Apr 6
- 1 min read
Palmdale, CA — April 6, 2025 — The abrupt end of the Veteran Assistance Servicing Purchase (VASP) program by the U.S. Department of Veterans Affairs, effective May 1st, threatens to push thousands of veteran families into foreclosure, homelessness, and financial ruin—with no replacement plan or safety net in place.
VASP was designed to give vulnerable veteran homeowners a lifeline by allowing the VA to purchase their delinquent loans and offer manageable repayment plans. Its termination, without a structured transition or alternative solution, leaves veteran families across the nation in limbo, many of whom were relying on the program as their last hope to save their homes.
“This decision pulls the rug out from under families who served this country and trusted that their government would stand by them in times of hardship,” said Amy Tilley-Boyd, founder of the Keep Our Vets Housed (KOVH) Foundation. “With no clear replacement, the end of VASP is more than bureaucratic—it’s catastrophic.”
Among the serious consequences:
A likely surge in VA-backed home foreclosures.
Increased homelessness among disabled, elderly, and low-income veterans.
Long-term credit damage, blocking veterans from renting, buying, or even gaining employment.
No transition plan, leaving homeowners and loan servicers in confusion.
A massive erosion of trust between veterans and the VA.
The KOVH Foundation is calling on lawmakers, veterans’ advocacy groups, and community leaders to demand immediate federal action to implement a replacement program, halt active foreclosures, and provide emergency support for families in crisis.
For interviews, media inquiries, or to support the KOVH mission, contact:Amy Tilley-BoydFounder, Keep Our Vets Housed Foundation
Comments