They are struggling as she is trying to graduate from hygienist school and he is working part time. He is considering modifying his loan or walking away. His question is if he does either would he lose his VA benefits or would the VA deduct from his pay?
In my experience, VA benefits are not affected by requesting a loan modification on a VA loan. I have been able to obtain what is called a VA-HAMP for clients in the past. It's a branch of the Making Home Affordable Program. Your son and his wife should look into this program, I included a link below.
Please thank him for his service to our country.
Additionally, myself and many other lawyers on here provide free consultations. If he'd like to call and chat about his options, please let me know.
Gregory Nordt, Esq.
This is not designed to be construed as legal advice.