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  • What VA Loan Homeowners Hit By Hurricane Sandy Need to Know

    What VA Loan Homeowners Hit By Hurricane Sandy Need to Know

    VA loan borrowers whose homes were affected by Hurricane Sandy and its remnants should take a few key steps to start the path toward rehabilitation or rebuilding. If you haven't already, the first step is to contact the Federal Emergency Management Agency (FEMA) and start the disaster application process at 800-621-3362 or visit FEMA online. Homeowners may be able to obtain housing assistance and other forms o…

  • VA Loan Volume Has Soared an Incredible 305% in Five Years

    VA Loan Volume Has Soared an Incredible 305% in Five Years

    The VA loan program is absolutely booming in an era of tighter credit and tougher lending requirements. The agency guaranteed nearly 540,000 loans in FY 2012, which came to a close at the end of September. That's a 51 percent increase compared to FY 2011, and an astounding 305 percent jump from FY 2007. Here's a look at the last six years worth of VA loan totals to give you a sense of the program's tremendous …

  • Veterans Bill Brings Some Big Changes to the VA Home Loan Program

    Veterans Bill Brings Some Big Changes to the VA Home Loan Program

    A veterans omnibus bill now on its way to the president’s desk contains some key changes and updates that will extend housing benefits to more surviving spouses and allow military dependents to fulfill the loan program’s occupancy requirements. The U.S. House passed the “Honoring America’s Veterans and Caring for Camp Lejeune Families Act” on Tuesday, nearly two weeks after a unanimous vote in the Se…

  • Get Answers to Your Credit Questions in our Live Chat!

    Credit is always an important topic for so many reasons. I've written about it a lot here at VA Loans Insider and within our amazing Facebook community. There's so much that goes into making this a complex topic, from how you get credit scores and what impacts them to the steps you can take to raise your score and get in a great position to prequalify for a VA home loan. Today, without a relatively solid credit sc…

  • Consumer Advocates Warn Veterans of Mortgage Modification Scams

    Consumer Advocates Warn Veterans of Mortgage Modification Scams

    With Memorial Day in the rear view and the July 4 holiday around the corner, consumer advocates recently issued a warning to military homeowners: Watch for mortgage scams. Craven companies that prey on veterans will often target troubled homeowners with offers of mortgage modification, foreclosure prevention and more. Some actually present themselves as part of the Home Affordable Modification Program (HAMP), …

  • Bill Would Expand Foreclosure, SCRA Protections for Active Military

    Bill Would Expand Foreclosure, SCRA Protections for Active Military

    A group of four U.S. lawmakers want to expand the protections of the Servicemembers Civil Relief Act (SCRA) to help military homeowners better cope with the financial challenges of deployment. The legislation, known as the Servicemember Housing Protection Act, would amend the longstanding SCRA to provide more widespread protections against foreclosure and other civil obligations for active military and their f…

  • More Evidence This is a Housing Market for the Record Books

    More Evidence This is a Housing Market for the Record Books

    A major housing index predicts home prices will fall nearly 1 percent more before the end of 2012, with a gradual climb to follow. Right now, though, it's a housing market perhaps unlike any other in modern memory. The Fiserv Case-Shiller index released Tuesday shows that a conventional monthly mortgage payment accounts for just 12 percent of median family income. That's the lowest percentage on record, which …

  • HAP Program Helps Some Homeowners Hurt By Falling Home Values

    HAP Program Helps Some Homeowners Hurt By Falling Home Values

    For more than 40 years, the Homeowners Assistance Program (HAP) has compensated eligible military and civilian federal employees who saw their home values drop because of a Base Realignment and Closure (BRAC) decision to close a nearby military installation. The program was temporarily expanded in 2009 to provide financial assistance to a wider audience in the wake of the financial crisis and housing market…

  • No Down Payment, No Problem: VA Loans Still the Safest on the Market

    No Down Payment, No Problem: VA Loans Still the Safest on the Market

    We've already written about the huge year the VA Loan Guaranty program had in 2011. The VA made it official in a press release this week. But the department also passed along a pretty incredible statistic, courtesy of the Mortgage Bankers Association: For all loan types, VA loans have had the lowest foreclosure rate for the last 14 quarters and the lowest seriously delinquent rate for the last 11 quarters. Ser…

  • Housing Help Dries Up For Military Members

    Housing Help Dries Up For Military Members

    Home values have taken a nosedive for thousands of active military members, many of whom are now "underwater," meaning they owe more than the home is worth. The epidemic isn't unique to service members. But, unlike civilians, military homeowners face the prospect of receiving new orders and suddenly having to unload an underwater home in a sagging real estate market. That can prove financially ruinous for thos…