San Diego, CA (PRWEB) June 19, 2012
Prince William County, Va. has suffered its fair share of foreclosures with much more than 16,000 given that 2004, representing a lot more than ten percent of all properties in the county.

In current months a group of activists, Virginians Organized for Interfaith Community Engagement(VOICE), has been pressing banks to supply millions of dollars in relief for the homeowners affected. At a current neighborhood meeting two banks identified more than a 1,000 home owners as eligible for help in the $ 25 billion National Mortgage Settlement announced this year.

Virginia’s Prince William County interfaith group’s activism demanding mortgage reductions could serve as a model for other communities which includes veterans and veterans’ groups in search of mortgage debt relief, mentioned Phil Georgiades, chief loan steward at VA Residence Loan Centers (VA-HLC), a San Diego-based group that specializes in arranging VA loans and advising veterans, active-duty military and their households about homeownership.

Its great to see some home owners commence to get the much-promised relief from these large banks, Georgiades continues.

Nonetheless, it is not enough. The scale of the difficulty is massive. VOICE has estimated that Prince William County alone demands up to $ 500 million to fix the harm triggered by the mortgage crisis. The National Mortgage Settlement would supply just $ 480 million to the whole state of Virginia.

With this type of shortfall, communities that do not have a powerful activist group operating on their behalf are particularly vulnerable.

But, there are other options, especially for home owners with VA loans. Georgiades explains, VA-HLC has not too long ago launched a new plan,Property owners Action Solutions (HAS), which has been set up specifically to assist eligible property owners with VA residence loans who are facing economic loss when selling their major-residence houses, as effectively as those facing foreclosure as a result of the drop in home values.

HAS helps veterans, active duty military and their families keep in their residences by offering several mortgage payment-reduction plans, or aid them sell their property even if they do not have equity in their residences.

VA-HLC provides cost-free processing and counseling for all these choices, adds Georgiades. HAS is about action for our veterans, active-duty military and their households.
Meanwhile, back in Virginia, VOICE continues to lobby for loan modifications and other alterations to support affected property owners.

With groups like VOICE and applications like VA-HLCs HAS, we are starting to make true progress, said Geogiades. It really is extended overdue.

For much more info about VA house loans or eligibility needs and loan limits, as well as how VA-HLC aids veterans with VA loans, refinancing and foreclosure avoidance, call 888-573-4496 or pay a visit to http://www.vahomeloancenters.com.

About VA-HLC / VA Home Loan Centers
VA Home Loan Centers is a qualified lender of mortgage loans to United States Veterans. The VA loan system assists veterans, active and former duty military, and specific spouses of wounded, MIA or KIA United States service personnel attain the American dream homeownership. Services offered by VA Residence Loan Centers contain genuine estate representation such as VA loan short sale processing, obtain assistance and VA loan application processing.