Texas Insider Report: AUSTIN, Texas — Today, Texas Land Commissioner and Chairman of the Veterans Land Board George P. Bush announced that in response to the COVID-19 outbreak, the Texas Veterans Land Board (VLB) will provide temporary relief to Veterans with VLB loans. The VLB recognizes the unique circumstances induced by COVID-19 and has taken measures to ease the burden of loan and housing penalties on the Veteran community.
The VLB will be following various protections as outlined by the VA, FHA, Fannie Mae, and Freddie Mac. These measures include a temporary moratorium on credit reporting, evictions and foreclosures, and a temporary suspension of late payment penalties. Current borrowers with loans should contact their loan servicer for assistance and more information.
"The Veterans Land Board is here to serve Veterans, both in times of prosperity and turmoil,” said Chairman George P. Bush. “It is our commitment to serve those who have served us. As we come together as a community to defeat this pandemic, the VLB will be providing relief to Veterans with VLB loans. Our Veterans' most pressing concern should be their health and safety, not their ability to maintain a home or land loan during this uncertain time."
For more information regarding the VLB’s Land and Home Loan Program, visit the VLB website or follow the VLB on Facebook and Twitter.
Background:
A temporary moratorium has been issued for:
- Credit Reporting
- Evictions
- Foreclosures
- Late Payment Penalties
