This week in the blog we focused on education and home loans, and those who give home loans.
The further details we promised you are in here. What benefits changed, and when they become effective. Most new changes become effective on August 1, 2011. The applications of National Guard members who were mobilized by Title 32 orders are currently being accepted but payment of benefits is not available until after October 1, 2011.
An expose on special home loan programs available for veterans in the states of Texas and California, these VA loans offer low cost to free prequalification and zero down payments with very competitive interest rates
Sometimes the unfortunate situations happen no matter how much we try to help. For those veterans who end in up with a foreclosed mortgage, the VA offers $1500 to help cushion the burden of the cost of moving.
After JP Morgan Chase was found to have wrongly foreclosed on several veteran and their families, the huge lender is now paying back millions to fix what they did wrong. The SCRA, or Service Member’s Civil Relief Act, allows active duty military members to request a low interest rate on a mortgage they purchased before being called to active duty. Because of the SCRA, the lender is obligated to comply down to a 6% interest rate for the duration that the buyer is on active duty.