VA Participates in Settlement with Mortgage Banks Secretary Announces Protections for Veterans WASHINGTON – The Department of Veterans Affairs announced its participation in the largest state-federal legal settlement in history that deals with problems within the mortgage industry. “Through this historic settlement, VA has ensured that Veterans, Servicemembers, and National Guard and Reserve members will [...]
What is the limit on these loans anyway? An easy guide to know how much you can get a loan for. Lets get to Brass Tax here. The maximum guaranteed on a VA loan is 240,000 and while this might buy a fairly large sized house in most areas of the country, high priced markets [...]
The loans given out by the VA have proven to have the lowest foreclosure rates in the mortgage industry. Record breaking numbers of Veterans are taking notice and using their benefits as VA loan origination’s reached their highest amount in eight years. “The continued strong performance and high volume of VA loans are a testament [...]
President Obama delivered his State of the Union address last night and boy it sure sounded good. He spoke about a plan to make America built to last. In this plan he asks simple things such as higher taxes for the rich such as Warren Buffet and lower taxes for those earning under 250,000 dollars a year.
The United States has had the same AAA credit rating for 70 years. Up until August of last year when our credit rating was downgraded to AA+. This means the government cannot borrow to fund its operations overseas or pay for public schooling as cheaply as it once did. The interest rates at which the [...]
Need a home loan? Try calling up red white and blue bank of The ol’ U.S. of A! In the last year the Government has insured that 489,418 veterans get a home Loan. Thats nearly 63 billion dollars allotted to VA home loans. Now with the gov’t protecting the lenders and dishing out the cash [...]
The city of Houston has one of the fastest growing VA Home Loan industries in the state as far as real estate goes. But why is that you may ask? Houston’s employment opportunities and easy access to VA Loans were on the rise in 2011 and are expected to increase in 2012 despite the slow [...]
To cover the cost of the veteran jobs package, Murray and Miller agreed to a provision that will keep in place higher VA loan guarantee fees for veterans who re-use home loan benefits a second time or more. The higher fees, set in 2003, were to expire but will be extended through 2016.
President Barack Obama has signed HR 2112, the Consolidated and Further Continuing Appropriations Act of 2012 into law renewing the expired higher loan limits for Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) loans for an additional two years, through Dec. 31, 2013.
Borrowers who qualify have reaped the benefits of government-sponsored tax credit programs and record-low interest rates. At the same time, the subprime mortgage meltdown and ensuing financial crisis created a restrictive credit environment and made it significantly tougher for some to purchase homes or refinance.That relatively grim storyline isn’t exactly the same for military members.
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