In Circular Letter 26-20-34, the VA addressed concerns for VA home loan borrowers in the wake of Hurricane Laura. The VA encourages holders of guaranteed loans to consider the following assistance measures:
- Moratorium on Foreclosure;
- Late Charge Waivers; and
- Suspension of credit bureau reporting on affected loans.
The VA also encourages servicers to extend special forbearance to members of the National Guard who experience financial difficulties as a result of their service.
Finally, the VA encourages servicers and borrowers to review their Guidance on Natural Disasters.