Wichita Standard

Senate Veterans’ Affairs Committee Ranking Member Richard Blumenthal is supporting a new bipartisan initiative aimed at aiding veterans and servicemembers who are struggling to maintain their homes. The Veterans Housing Stability Act of 2025, authored by Senators Lisa Blunt Rochester and Mike Rounds, seeks to provide a solution for those using Department of Veterans Affairs (VA) home loans.

Blumenthal emphasized the need for the legislation: “Veterans facing painful financial hardship deserve a viable solution to get their mortgages current and keep their homes. Right now, potentially tens of thousands of veterans are at-risk of losing their homes as a direct result of Secretary Collins’ reckless and reprehensible decision to end the VASP Program. Our legislation will create a replacement program to avoid preventable foreclosures, and ensure our most vulnerable veterans have a last resort option to continue paying their mortgage and keep their homes.”

The proposed bill would introduce a partial claim program designed to assist veterans experiencing severe financial difficulties in avoiding foreclosure. This comes after the abrupt cancellation of the VA's previous program, VASP, by the Trump Administration on May 1st without prior consultation with Congress or relevant stakeholders.

A report indicates that more than 71,000 veterans could be at risk due to this cancellation. The VASP had been instrumental since its inception in 2024, assisting over 17,000 veterans facing immediate foreclosure.

The Veterans Housing Stability Act aims to establish an alternative mechanism that ensures affected individuals can stabilize their mortgage payments and retain ownership of their homes.