President Donald Trump is set to sign a new bill aimed at supporting veterans in their efforts to secure home loans. The legislation, known as the VA Home Loan Program Reform Act, will be signed on Wednesday at 1:30 PM ET in the Roosevelt Room of the White House.
This bill was introduced by Representative Derrick Van Orden from Wisconsin back in March and has recently passed through the Senate. Van Orden expressed his excitement about the bill on social media, emphasizing the importance of the VA Home Loan Guarantee program for veterans aspiring to own homes.
The main goal of this legislation is to assist veterans who are struggling with their mortgage payments. It establishes a permanent partial claims program within the VA Home Loan Program, which aims to align it with other federal lending programs. This move is seen as a response to the previous administration’s VASP program, which Van Orden criticized for its lack of consultation with Congress and its significant cost to taxpayers.
Van Orden stated that the VASP program, created under the Biden administration, resulted in a financial burden of $5.8 billion and threatened the viability of the VA home loan guarantee program. He believes that this new bill will provide a much-needed solution for veterans, allowing them to maintain their dream of homeownership.
In addition to signing the bill, President Trump will also address the topic of health technology later in the afternoon. This signing marks a significant step in providing support for veterans and ensuring they have the resources they need to secure their homes.
