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NewsFox 13 News (WTVT) — All NewsOctober 30, 2026Hillsborough County

Veterans hit with higher mortgage payments after VA cuts loan program: report

Photo: Fox 13 News (WTVT) — All News

Over 26,000 U.S. military veterans are facing higher monthly mortgage payments—with increases of $1,000 or more for over 700 veterans—following the Trump administration's termination of the Veterans Affairs Servicing Purchase (VASP) program on May 1, 2025. According to an NPR investigation, the cancellation occurred without an immediate alternative, leading to a 10-year high in VA loan foreclosures before Congress enacted a replacement program that took over 13 months to establish.

VeteransHousingMortgagesFederal Government
Read the full story at Fox 13 News (WTVT) — All News

Why It Matters

Thousands of military veterans experience increased monthly housing expenses and foreclosure risks following the abrupt termination of a federal mortgage relief program.

Key Facts

Each fact below is taken from the article. Click one to see the exact passage.

Who's Mentioned

OrganizationBiden administration“Created the VASP program after a previous misstep.”OrganizationNPR“Conducted an investigation and reviewed over 40,000 VA loan modifications.”OrganizationHouse Republicans“Warned and vocally opposed the program, wanting it shut down.”OrganizationFannie Mae“Guarantees mortgages covering part of the U.S. mortgage market.”OrganizationFreddie Mac“Guarantees mortgages covering part of the U.S. mortgage market.”OrganizationDepartment of Veterans Affairs“Ended the VASP program and stated it helps veterans retain homeownership through”OrganizationTrump administration“Ended the VASP program on May 1, 2025.”