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
Veterans Benefits Improvement Act 2010: President Obama signed the Veterans Benefits Improvement Act 2010. The bill makes certain changes and improvements to VA benefits.
On October 13, 2010, President Obama signed the Veterans Benefits Improvement Act 2010. The bill makes certain changes and improvements to VA benefits and policies including the following matters:
• Employment, small business and education
• Housing and homelessness
• Servicemembers Civil Relief Act
• Insurance
• Burial and cemetery
• Compensation and pension
• Employment and reemployment rights of members ... Read More
Nineteen Million VA Loans and Counting: The U.S. Department of Veterans Affairs announced in a press release that the VA Home Loan Guaranty Program hit the 19 million mark.
The U.S. Department of Veterans Affairs announced in a press release dated November 1, 2010 that the VA Home Loan Guaranty Program hit the 19 million mark. This is a record-breaking number of VA loans despite the recession that began in Fall 2008 and the depressed housing ... Read More
2011 VA Loan Limits Released by Veterans Affairs: On December 3, 2010 the U.S. Department of Veterans Affairs published its 2011 VA loan limits.
On December 3, 2010 the U.S. Department of Veterans Affairs published its 2011 VA loan limits. The limits apply to VA home loans closed between January 1, 2011 and September 30, 2011. Though the VA establishes no maximum limit for their federally backed home loans, the limits are ... Read More
VA-owned Properties for Sale: Qualified veterans and non-veterans alike can purchase VA-owned properties for sale. The properties don’t have to be financed with a VA loan.
Sometimes, the U.S. Department of Veterans Affairs (VA) acquires properties that are repossessed as a result of VA loan foreclosure. A VA Real Estate Owned (REO) property is one that becomes the possession of the VA after the mortgage company attempts to auction a foreclosed property and ... Read More
VA Loans and the Fair Housing Act: VA-approved lenders, by law, cannot discriminate against anyone applying for a VA-guaranteed mortgage.
VA-approved lenders, by law, cannot discriminate against anyone applying for a VA-guaranteed mortgage. As part of the Civil Rights Act of 1968, fair housing laws were enacted to protect all borrowers, including VA-eligible borrowers, from biased treatment during their loan application processes.
According to VA Home ... Read More
VA Loan Limits for 2011 Remain the Same through New Year’s Eve: VA lenders and borrowers can expect the 2011 VA loan limits to be in effect until the end of the year.
Each year, the VA publishes a “loan limits” document that lets borrowers and lenders know how much the federal guarantee will be in each U.S. county. For 2011, the VA loan limits were published on December 3, 2010. And, the limits were to apply to VA ... Read More
