The Department of Veterans Affairs is urging all mortgage companies to suspend late fees and negative credit reporting for veterans affected by the Gulf Oil spill.
The disaster put thousands of veterans in financial jeopardy, eliminating jobs and severely harming scores of coastal industries. Several national mortgage companies have already pledged to waive late charges and negative reporting for affected veterans.
The VA secretary recently asked the rest of the industry to join the effort.
“We are strongly urging mortgage companies to extend every possible forbearance to Veterans whose livelihoods have been affected by the oil spill crisis,” said Secretary of Veterans Affairs Eric K. Shinseki said in a news release. “We must assist these veterans in this difficult time, just as they have supported us in their sacrifice to the nation.”
In addition to financial help, local VA Loan Centers are providing counseling and relief to service members. A veteran does not have to obtain a VA Loan to receive financial advice and information from the VA loan centers. Call 1-877-827-3702 for info on the nearest VA loan center locations. You can also visit the VA Loan Guaranty home page.
We are not the FHA, VA, USDA, HUD or any other government organization. The content on this blog is intended for information purposes only. 
