Tips & Special Topics
VA Loan Updates
Recession and VA Loans: We are officially in a recession, yet the VA loan program is as strong as ever. Several factors contribute to the strength of veterans home loans including improved VA benefits and the VA outreach program.
It’s official! President George W. Bush acknowledged for the first time on November 28, 2008, that the US economy is in a recession. According to data by expert economists, America is in a recession. In economic terms, a recession happens when the gross domestic product (GDP) shrinks for at ... Read More
VA Loans: Only A Small Portion of Veterans Are Using Their Benefit: Very few veterans are using their VA loan benefits. This article discusses the surprising statistic that less than 10% of eligible veterans are not using their home loan entitlements.
Much of the news in early 2009 is about mortgages. With zero money down and no private mortgage insurance, many argue a VA loan is hard to beat. That said, the VA Home Loan Guaranty Program is considered by many to be one of the most ... Read More
VA Loan Surge could follow U.S Military Homecoming: VA lenders could see an increase in applications for VA loans now that President Obama has announced the withdrawal of troops from Iraq.
In an interview with Matt Lauer on February 2, 2009, President Barack Obama said he would begin withdrawing U.S. Troops from Iraq within a year. He stated that the United States is in a position to start putting more responsibility on the Iraqis, and that he would more clearly ... Read More
American Recovery and Reinvestment Act of 2009 Protects Veteran Homeowners: The American Recovery and Reinvestment Act of 2009 provides stimulus inclusions for military real estate losses for veterans with or without VA loans.
On February 17, 2009 President Barack Obama signed the American Recovery and Reinvestment Act – known as the Stimulus Bill. The bill is largely intended to provide stimulus to the U.S. economy in the wake of the downturn suffered as a result (in part) of the subprime mortgage crisis. ... Read More
Military Members and Others get Homebuyer Credit Extension: The Homebuyer's tax credit has been extended up to an additional year for some military personnel.
The homebuyer’s tax credit of up to $8,000 introduced in the American Recovery and Reinvestment Act of 2009 has been extended until spring of 2010. The extension is even more favorable for certain U.S. military members.
Originally, the $8,000 tax credit was only for qualified first-time home buyers ... Read More
2010 VA Loan Limits: The 2010 county VA loan limits have been published by the VA in order to help borrowers calculate the maximum guaranty the VA will provide.
The U.S. Department of Veterans Affairs has released its 2010 VA loan limits. VA borrowers will see a slight adjustment in loan limits in high-cost counties bringing them in line with the current real estate market and cost of living in those counties.
The VA Loan Guaranty ... Read More
Recent VA Loan Legislation Summary: VA loans have seen a lot of legislation around the programs over the last couple of years. This article summarizes the many changes for veterans home loans.
In the years 2008 and 2009, new legislation was passed to improve the VA home loan program. Many find it difficult to keep track of all the changes. Here is a summary of some of the legislative and other changes regarding the program.
In October 2008, President Bush ... Read More
