Trump's VA killed a home loan program.
asserted
VA → kill → program
Thousands of veterans are paying the price
asserted
Thousands → pay → price
Thousands of military veterans with VA-backed mortgages have been hit with higher interest rates and monthly payments since last year, when the Trump administration shut down a low-interest program designed to help them.
asserted
administration → back → them
Among veterans who had their loans modified after a financial hardship, more than 15,000 saw their monthly payments increase by at least $150, according to an NPR investigation that obtained previously unreported data from the Department of Veterans Affairs.
uncertain
that → have → Affairs
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More than 700 veterans suffered payment increases of $1,000 or more.
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veterans → load → more
Lenders offer loan modifications to enable homeowners to catch up on missed payments.
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Lenders → offer → payments
It involves changing the loan terms, and for the vast majority of Americans, it either lowers their payment or keeps it the same, depending on what they can afford.
asserted
they → involve → what
But that's not the case for VA loans, since the VA abruptly ended the program.
asserted
VA → end → program
NPR found that 63% of veterans who received a loan modification were hit with a payment increase, compared with just 2% for modifications of loans guaranteed by the government-sponsored enterprises Fannie Mae and Freddie Mac, which cover most of the U.S. mortgage market.
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which → find → market
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"This is the height of insanity," said California Democratic Rep. Mark Takano, the ranking member of the House Veterans' Affairs Committee, after NPR shared its findings.
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NPR → load → findings
"These are veterans that are already financially distressed — they were already in trouble," he said.
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he → say → trouble
Veterans like Scott Boyd are literally paying the price.
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Veterans → pay → price
When Boyd was a teenager, his dad died of cancer.
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dad → die → cancer
He said he saw the military as a clear path to start helping his family.
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he → say → family
"My mom signed paperwork when I was 16," Boyd recalled.
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Boyd → sign → paperwork
"I'm like, 'I'm sending my checks home to take care of my mom.'
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I → send → mom
He started out in the infantry and saw combat.
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He → start → combat
Later, Boyd worked in Army intelligence in some dangerous places.
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Boyd → work → places
When he got out in 2002, he had skills that set him up for a career in tech.
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that → get → tech
In 2021, he bought a house near Columbus, Ohio, using a VA home loan.
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he → buy → loan
Like other buyers at the time, he got a nice low-interest rate.
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he → get → rate
"I felt very blessed," he said.
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he → feel → ?
But a few years later, Boyd hit a crisis: He lost his job in a mass layoff, and he said his time in combat came back to haunt him in the form of PTSD.
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time → hit → PTSD
He checked himself into the Dayton VA hospital for treatment but fell behind on his mortgage.
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He → check → mortgage
Most Americans can get help in a situation like this.
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Americans → get → this
Mortgage companies don't want to foreclose because both they and the homeowner experience losses.
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they → want → losses
So they have levers they can pull to help people who've fallen behind on payments.
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who → have → payments
Boyd's lender told him that he didn't have to worry because the VA had a loan forbearance program that would allow him to pause his payments and provide him with an affordable way to catch up after.
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him → tell → way
"I later found out that wasn't true," he said.
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he → find → ?
It wasn't true because the Trump administration then shut down a key part of the VA's home loan program.
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administration → shut → program
It was called the Veterans Affairs Servicing Purchase (VASP) program.
asserted
It → call → ?
Without it, vets like Boyd were stranded with no option but a much-higher-cost modified home loan at today's higher interest rates.
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vets → strand → rates
In Boyd's case, he is now stuck paying $1,181 more — every month.
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he → stick → 1,181
"This is outrageous," said Boyd.
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Boyd → say → ?
"I remember just thinking to myself, 'This is just so broken.'
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This → remember → myself
"
Some in Congress agree.
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Some → agree → Congress
"The VA home loan program should not be making things worse and more stressful for that veteran, a combat veteran, who's been through hell," said Takano, about Boyd's case in particular.
asserted
Takano → make → case
Illinois Republican Rep. Mike Bost, chairman of the House Veterans' Affairs Committee, did not respond to NPR's repeated requests for comment.
asserted
Bost → respond → comment
NPR also reached out to Wisconsin Republican Rep. Derrick Van Orden, a committee member who led the call to wind down the VASP program.
asserted
who → reach → program
He also did not respond to requests for comment.
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He → respond → comment
…and 55 more, not listed.
The Aporia
