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To express the sense of Congress regarding the exercise by the Department of Veterans Affairs of the authority under the Veterans Affairs Servicing Purchasing program, and for other purposes.
Summary
The bill expresses Congressional intent that the Department of Veterans Affairs should prioritize helping veterans avoid foreclosure on homes purchased with VA-guaranteed loans. It clarifies and reinforces the VA's authority under the Veterans Affairs Servicing Purchasing (VASP) program to pay the unpaid balance of a loan plus accrued interest in order to acquire the loan from the lender and assist the veteran. The bill modifies the statute to make clear that the Secretary shall carry out this program as a tool to prevent foreclosures, subject to participation requirements. The legislation aims to ensure the VA uses all available authorities to help veteran homeowners keep their homes as an alternative to foreclosure.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Takano, Mark [D-CA-39] (D-CA)
Money behind the sponsor
Top reported contributors to Mark Takano’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $20,150
- PAFCO $13,200
- VETERANS UNITED HOME LOANS $11,600
- ESRI $7,910
- THOMAS SAFRAN & ASSOCIATES $7,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Mark Takano → · Outside spending →
Actions (4)
- May 12, 2025 Referred to the Subcommittee on Economic Opportunity. · house
- Apr 17, 2025 Referred to the House Committee on Veterans' Affairs. · house
- Apr 7, 2025 Introduced in House
- Apr 7, 2025 Sponsor introductory remarks on measure. (CR H1433)
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
April 17, 2025
Mr. Takano introduced the following bill; which was referred to the Committee on Veterans’ Affairs
A BILL
To express the sense of Congress regarding the exercise by the Department of Veterans Affairs of the authority under the Veterans Affairs Servicing Purchasing program, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Foreclosure Assistance Immediately Reinstated for Veterans Act of 2025” or the “FAIR Veterans Act of 2025”.
SEC. 2. SENSE OF CONGRESS REGARDING DEPARTMENT OF VETERANS AFFAIRS EXERCISE OF AUTHORITY UNDER VETERANS AFFAIRS SERVICING PURCHASING PROGRAM.
(a) Sense of Congress.—It is the sense of Congress that—
(1) the foreclosure on a home purchased by a veteran with a loan guaranteed by the Department of Veterans Affairs should be the last resort; and
(2) the Department should use the authority under section 3732(a)(2) of title 38, United States Code, and other authorities under the laws administered by the Secretary to help as many veterans as possible keep their homes.
(b) Clarification Regarding VASP Program.—Section 3732(a)(2)(A) of title 38, United States Code, is amended by striking “Before” and inserting “The Secretary shall carry out a program under which the Secretary may pay the holder of the obligation the unpaid balance of the obligation plus accrued interest and receive an assignment of the loan and security. To participate in the program, before”. <all>
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