(310) 321-1234
909 N. Pacific Coast Highway, Suite 385
El Segundo, CA 90245

Help for Veterans in Default and Foreclosure

The housing crisis in recent years has particularly been hard on military families. 1 in 3 complaints received by the Consumer Financial Protection Bureau are from military members and their spouses who cite problems with mortgages as some of their most serious financial challenges.

The urges all Veterans who are encountering problems making their mortgage payments to schedule appointments with a FAIR Counselor and keep lines of communication with their loan servicers open. Contrary to popular opinion, loan servicers really don’t want to foreclose on homeowners and would much rather work something out.

Depending on a veteran’s specific situation, servicers may offer any of the following options to avoid foreclosure:


  • Deed-in-Lieu of Foreclosure- Homeowners agree to deed the property to the servicer instead of going through foreclosure
  • Additional time to arrange a private sale- The Loan servicer agrees to delay the foreclosure process to allow a sale to close if the loan will be paid off.
  • Loan Modification- A new payment schedule is given to the homeowner after adding the delinquent amount to the loan balance.
  • Repayment Plan- The loan servicer accepts agrees to allow the homeowner a regular installment plan that includes the mortgage payment plus part of the missed payments.
  • Special Forbearance- Under “special circumstances” the loan servicer agrees not to begin the foreclosure process and allow time for homeowners to repay the missed installments.


Veterans who feel they may be facing homelessness or foreclosure may contact the FAIR Program for assistance selling their property in foreclosure and finding adequate relocation for themselves and their families. FAIR Counselors offer free services to Veterans who seek to avoid foreclosure. Contact us at (310) 321-1234.

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