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Foreclosure Glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
VA GuaranteeA guarantee by the Veterans Administration for loans made by private lenders to qualifying veterans or their surviving spouses.
Veterans Administration (VA)An independent agency of the Federal Government created in 1930. The Servicemen’s Readjustment Act of 1944 authorized the agency to administer a variety of benefit programs designed to facilitate the adjustment of returning veterans to civilian life. Among the benefit programs is the VA Home Loan Guaranty program, which encourages mortgage lenders to offer long-term, low down payment financing to eligible veterans by guaranteeing the lender against loss. The VA attained Department status in March 1989.