Washington, D.C. – U.S. Senator Lisa Blunt Rochester (D-Del.) and Senate Veterans’ Affairs Committee Ranking Member Richard Blumenthal (D-Conn.)announced they will be introducing legislation this week to replace the VASP Program and ensure veterans and servicemembers using Department of Veterans Affairs (VA) home loans can keep their homes as the Trump administration’s rushed cancellation of the Veterans Affairs Servicing Purchase Program (VASP) is carried out today, May 1.
“Veterans facing foreclosure deserve a viable solution to get their mortgage current and keep their homes. Secretary Collins’ decision to end the VASP Program without consulting Congress, veterans, or service lenders was an act of consummate cruelty and incompetence — potentially leaving tens of thousands of veterans at risk of losing their home. In response, our legislation will create a replacement program to avoid this and ensure veterans have a last resort option to continue paying their mortgage and keep their homes. We urge the Trump administration to help our most vulnerable veterans and extend VASP until this new program becomes law,” said the Senators.
The Senators’ Veterans Housing Stability Act of 2025 would establish a partial claim program to help veterans using the VA home loan and experiencing severe financial hardship avoid foreclosure and stay in their homes. This program would replace VA’s current program to do this, VASP, which was abruptly cancelled by the Trump administration earlier this month starting May 1st. The Trump administration cancelled VASP suddenly without consulting Congress, veterans, or service lenders. The Senators are calling on VA Secretary Doug Collins to extend the VASP Program until the new partial claims program established by their bill becomes law.
VASP was the Department’s only program of last-resort that exists for veterans facing immediate foreclosure. It has helped more 17,000 veterans since the program launched in 2024. By not accepting any new veterans into the program after May 1, 2025, VA is risking putting 80,000 veterans onto the streets and out of their homes. Drafted in response to this action, the Senators’ Veterans Housing Stability Act of 2025 would ensure these veterans have a viable solution to avoid defaulting on their loans, bring their mortgages current, and avoid foreclosure by establishing a replacement partial claims program.
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Senator Lisa Blunt Rochester represents Delaware in the United States Senate where she serves on the Committees on Banking, Housing, and Urban Affairs; Commerce, Science, and Transportation; Environment and Public Works; and Health, Education, Labor, and Pensions.