VA Loans and Mortgages Future Military Homeowners

  • VA Benefits Are Safe — For Now

    VA Benefits Are Safe — For Now

    Pension worries are a growing issue for workers nationwide. Many states, counties and cities want to slash costs and are seeking to reduce government pension benefits. At the federal level, a process called "sequestration" is set to reduce spending in the name of "small government," an approach that could slash VA benefits unless modified and monitored. Speaking in Reno this week before the Veterans of Foreign Wars,…

  • Is the Foreclosure Crisis Killing Home Appraisals?

    Is the Foreclosure Crisis Killing Home Appraisals?

    Have appraisals gone bad? According to the nation's home builders that may well be the case. "The inappropriate use of distressed and foreclosed sales as comparables in determining new home values is needlessly driving down home prices, killing home sales, causing more workers to lose their jobs and delaying a housing and economic recovery,” said Bob Nielsen, chairman of the National Association of Hom…

  • Good Real Estate Agents Make Life Easier for Military Homebuyers

    Good Real Estate Agents Make Life Easier for Military Homebuyers

    Finding a real estate agent is as simple as picking a name out of the phone book. Finding a GOOD agent is a bit harder. And finding a GOOD agent with VA loan experience can be even more challenging. Challenging as it may be, it’s essential for military buyers to locate an agent with knowledge of the VA loan program and its unique requirements. Agents who are familiar with VA protocol can save borrowers…

  • Veteran Guides Military House Hunters Toward Oklahoma Dream Homes

    Veteran Guides Military House Hunters Toward Oklahoma Dream Homes

    Real estate agent Bob Stanbrough has been through the trenches. Literally. An agent based in Oklahoma City, Bob understands the unique nature of military life. He’s a former U.S. Army Officer who chose to focus his civilian real estate career on serving military clients. A significant portion of Bob’s buyers are Veterans and active-duty service members who are using VA loan benefits to purchase their firs…

  • Breaking A Vicious Cycle: Affordable Homes and Veteran Unemployment

    Breaking A Vicious Cycle: Affordable Homes and Veteran Unemployment

    There's little doubt that VA benefits have great value. But in the case of a VA home loans you can't get financing without sufficient income regardless of your military training or experience. For the bulk of military borrowers, that means steady employment that's likely to continue. The jobs issue has become enormously important because young vets -- those aged 20 to 24 -- have a 30-percent unemployment rate.…

  • Should You Refinance With Current Mortgage Rates?

    The latest numbers from Freddie Mac should greatly interest military borrowers: Fixed-rate mortgages hit their lowest level since such numbers have been tracked, just 3.84 percent for a 30-year loan. This is a number that should cause VA loan borrowers to take a look at their current financing. What's the rate you're now paying? If you refinanced your current loan how much could you save per month? There are…

  • Will VA Borrowers Lose Rights Under The Robo-Signing Settlement?

    Under the just-announced $25 billion national mortgage settlement, members of the military are supposed to have additional protections to guard against wrongful foreclosures. It would seem that the new settlement would bolster the benefits already in place under the Servicemembers Civil Relief Act (SCRA) but that's not entirely clear. The issue is this: When must lenders halt foreclosures involving a member of the m…

  • Spotting Mortgage Modification Loan Scams

    Spotting Mortgage Modification Loan Scams

    Scammers can get crafty. The unscrupulous people who design schemes that scam homeowners approaching foreclosure don’t need high-tech resources. Mortgage modification scammers find their prey by looking at foreclosure notices on the Internet, in local periodicals and public files. VA home loans have the lowest default rate on the market. But military homeowners aren't immune to default. Here' a look at so…

  • 4 Questions for Single Homebuyers to Consider Before Buying

    4 Questions for Single Homebuyers to Consider Before Buying

    You can't buy a house unless you're married...right? Wrong. Single men and women make up a big chunk of the nation’s homebuyers, and that trend continues to grow. Single homebuyers purchased 33 percent of all homes sold in 2011, up from 32 percent in 2010 and 31 percent in 2009, according to the National Association of Realtors. But whether you’re single or happily married, timing your home purchase c…

  • Is Mortgage Payment Shock Real?

    Is Mortgage Payment Shock Real?

    The past few years have seen an enormous number of foreclosures. The common wisdom has been that a leading cause of default was payment shock, a swift and sizable increase in adjustable monthly payments. Now, however, Paul S. Willen, a senior economist with the Federal Reserve Bank of Boston, says payment shock is little more than an urban myth. "Contrary to popular belief," explained Willen before a congre…