H.R. 9942: House Our Heroes Act

This bill would change how the Department of Veterans Affairs (VA) can respond when certain VA-backed home loans fall behind on payments or go into foreclosure.

What it would allow the VA to do

The bill would let the VA:

• Offer an educational course to veterans whose VA-guaranteed mortgage is delinquent or already foreclosed.
• Include information in that course about:
  • how to improve credit scores,
  • how to manage personal finances, and
  • what loss-mitigation options are available for VA-backed loans.
• Use a “partial claim” for certain VA-backed loans that went into default because of a missed payment between May 1, 2025 and November 28, 2026.
• Approve changes to the terms of those loans, including changes to:
  • the interest rate,
  • the schedule for paying principal or interest, and
  • other loan or mortgage terms tied to the guaranteed loan.

What a partial claim means here

In simple terms, a partial claim is a way to help deal with missed payments by allowing part of the debt to be set aside or handled separately, rather than immediately forcing foreclosure or full repayment of all missed amounts. The bill would give the VA more flexibility to use this tool for eligible loans.

How this changes current procedure

The bill says the VA could take these steps without following the usual required order for certain loss-mitigation actions under current law. That means the VA would have more discretion to decide when to offer these options for covered loans.

Who would be affected

The bill would mainly affect veterans with VA-guaranteed home loans, especially those who are behind on payments or have already gone through foreclosure during the specified time period. It would also affect the VA’s mortgage assistance and foreclosure-avoidance processes.

Relevant Companies

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