The Department of Veterans Affairs (VA) has issued a new policy that protects veteran homeowners from predatory lending practices when obtaining a VA-guaranteed refinance loan. The new policy and its accompanying law help protect veterans and servicemembers from the dangers associated with repeatedly refinancing their home loans, requiring, among other things, the seasoning of the original loan and a recoupment period for fees, closing costs, and expenses related to the refinance. The policy also provides for a specified interest rate decrease and for protections of loan-to-value ratios. A refinancing loan must meet the requirements specified in the new law or VA will not guarantee the loan. Visit the ‘Paycheck Chronicles’ to learn more about the new VA Home Loan Refinance Policies.