New foreclosure timeframes will become effective for all VA loan terminations completed on or after Jan. 4, 2016, according to a recent notice issued by the Department of Veterans Affairs. The notice provides a table of foreclosure timeframes – the number of calendar days required to complete a foreclosure – which the VA has determined to be reasonable and customary for all states. The timeframes are important in the calculation of the maximum interest payable on a foreclosure of a VA-guaranteed loan. The VA Home Loan Guaranty program offers a partial guaranty against loss to lenders who make home loans to veterans and active-duty military personnel. Agency regulations spell out the circumstances under which VA will pay loan-guaranty claims. Under VA rules, a guaranty claim can include unpaid interest for a period of up to 210 calendar days from the due date of the ...