§ 36.4804. Partial claim payment as a home retention option.

96 words·~1 min read·/us/cfr/t38/s§ 36.4804·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)The Veterans Assistance Partial Claim Payment program is designed to address the financial hardships due, directly or indirectly, to the COVID-19 national emergency. A servicer may therefore use the partial claim payment option, even in cases where other home retention options are feasible, provided the partial claim payment option is in the veteran's financial interest.

(b)If the veteran notifies the servicer that the veteran does not want to retain ownership of the property securing the guaranteed loan, the servicer may immediately proceed to offering an alternative to foreclosure. (Authority: 38 U.S.C. 3703(c), 3720, 3732)

Connections1 cite this · traces to 1

Cited by 1 section

Rules and Regulations
Final rule SUMMARY: The Department of Veterans Affairs (VA) is establishing through this final rule the COVID-19 Veterans Assistance Partial Claim Payment program (COVID-VAPCP), a temporary program to help veterans return to making normal loan payments on a VA-guaranteed loan (guaranteed loan) after exiting a forbearance for financial hardship due, directly or indirectly, to the COVID-19 national emergency

Traces to 1 document

U.S. Code

Basic provisions relating to loan guaranty and insurance
§ 3703

Citation graph

cites case law

§ 36.4804

Partial claim payment as a home retention option.

Fed. Reg.×1

U.S.C.§ 3703

Cites 1Cited by 1 across 1 source