VA Loans and Your Mortgage with Stand For Justice | Jonathan Shaffner and Diana Deen

Description:

A study by the Office of Inspector General found that 85% of the eight million people in COVID forbearance weren’t offered the programs they qualified for. The percentage is even higher among veterans and reservists. 

VA home loans are meant to help veterans afford mortgages, but many aren’t being informed about them. Join me and my guests as we discuss the impact of COVID-19 forbearance and the fight for veterans’ financial rights.

Guest’s Introductions

• After realizing the current problems many homeowners face due to post-COVID forbearance complications, especially veterans and reservists, Colonel (Retired) John Shaffner and Diana Deen joined forces to encourage veterans to seek financial stability assistance.
• They created The Stand For Justice Program, an initiative dedicated to helping veterans with complications related to VA home loans.
• The program addresses issues from mismanaged forbearance agreements and unfair loan practices.

Challenges with VA Loans and COVID-19 Forbearance

• Colonel Shaffner and Diana Deen discuss the complications veterans face when reinstating loans after COVID-19 forbearance.
• Mismanagement and poor communication from mortgage servicers and the VA left veterans without access to necessary support programs.
• These inefficiencies caused problems like unexpected loan refinancing at higher rates and erroneous foreclosure notices, especially for deployed service members.

Regulatory Gaps and Potential Solutions

• We discuss the systematic gaps and failures in enforcing new forbearance laws. Shaffner highlights the recent CFPB regulation requiring non-bank financial institutions to register a responsible individual for accountability. 

Advocacy and Community Involvement

• Through their advocacy efforts with Congress and VA contacts, they have made strides toward long-term solutions to prevent foreclosure among veterans and ensure compliance with new regulations.

“When loans get sold, bigger mistakes are made, and it is a challenge. It takes a lot of strength if you're an individual. Most of us, when we start having problems with our finances or problems with paying our mortgage, we tend to shrink back. But actually what we're here to do is help people stand up and fight the system. It's not about the individual. It's really about the system. It's not set up to help people win. They're supposed to be helping you win.” - Diana Deen. 

Resources

Website: www.stand-for-justice.com 

Email:  help@stand-for-justice.com

Part-Time Hitter is a collaborative initiative by Friendly Forces and The Fratty Guard.

http://friendlyforces.com

http://thefrattyguard.com