By Jim Vines | email@example.com
Home loans guaranteed by the Department of Veterans Affairs continue to have the lowest serious delinquency and foreclosure rates in the mortgage industry. Veterans have taken advantage of their home loan benefits in record numbers, as VA loans reached their highest total in eight years.
Last year the VA helped 72,391 veterans and service members who were in default retain their homes or avoid foreclosure, an increase from 66,030 from the prior year. At the same, foreclosures on the VA guaranteed loans dropped by 28 percent. According to the Mortgage Bankers Association National Delinquency Survey, the VA’s foreclosure rate for the last 14 quarters and serious delinquency rate for the last 11 quarters have been the lowest of all measured loan types – even prime loans.
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