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Wednesday, 11 April 2012 14:32 |
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Unemployment, debt and a troubled housing market are plaguing families across the country, but for those in the armed forces, there is an even bigger burden to bear.
Often young and required to move frequently, many military families struggle to maintain a two-income household, find affordable childcare and save for the future.
Service members and their families have a tougher time because the military isn't a high-paying job and most "are very young and without formal financial literacy train ...
Read more... [Military Veteran families face financial hurdles]
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Wednesday, 04 April 2012 08:24 |
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More than two dozen Senate Democrats are pressing a federal housing regulator to provide a new analysis of the effects of mortgage principal reductions on taxpayers for loans backed by Fannie Mae and Freddie Mac.
Sens. Robert Menendez (D-N.J.), Jack Reed (D-R.I.), Mark Warner (D-Va.) and Jeff Merkley (D-Ore.) led a group of 30 senators on Wednesday in calling on Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA), to provide Congress with an updated and "accurate" a ...
Read more... [Democrats urge housing regulator to reexamine mortgage principal reductions]
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Monday, 26 March 2012 02:06 |
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Active duty and those who have family members that serve in the military, get a loan with more flexibility in qualifying. Mortgage loans also offer several options for other members. For instance, all military personnel and their families can take advantage of fixed rates, bi-weekly payments, and solutions for other home loan needs. Even if interest rates should change, fixed-rate mortgages offer consistency, because the same amount is being paid each month.
Qualifying for mortgage loans for ...
Read more... [Mortgage Loans Financing for Military Personnel and Their Families]
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Friday, 16 March 2012 15:00 |
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After signing scary looking legal documents and writing many very large checks, as a Veteran it’s nice to know there are some tax savings at the end of the home-buying tunnel. There are many home-related tax and VA benefits available for most types of homes: Condos, co-ops, single family homes, apartments or townhouses, mobile homes and even second homes.
The key to understanding if you will benefit from the tax advantages of being a veteran home owner is to compare your potential itemized d ...
Read more... [Owning a Home Will Change Taxes For Veterans]
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Thursday, 08 March 2012 15:57 |
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The Obama administration is offering some relief to military service members, veterans and homeowners who have government-backed mortgages. Under a program President Barack Obama unveiled at a news conference Tuesday, the government would cut the fees it charges to insure those borrowers.
The idea is that lower fees would persuade millions to refinance their loans while interest rates are near record lows. It's the administration's latest attempt to minimize the damage from the foreclosur ...
Read more... [Obama's Veteran Mortgage-Aid Plan]
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Tuesday, 06 March 2012 15:24 |
Image via Wikipedia
President Barack Obama held his first official news conference of the year Tuesday to announce changes in mortgage financing that he said will save homeowners approximately $4,000 a year.
Changes for Veteran homeowners
The President announced changes to how mortgage rates affect service members, veterans and other homeowners Tuesday.
The changes include:
Cutting fees for loans guaranteed by the Veterans Administration
Providing compensation equal to a minimum o ...
Read more... [Current VA Loan mortgage rates will save Veteran homeowners \$4,000 a year]
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Tuesday, 10 April 2012 15:42 |
But to Joyce Turner, still grieving the death of her soldier son killed in Afghanistan, the news couldn’t have meant more.
“Wonderful,” said Turner, 57, of Gladstone. “It’s very kind-hearted.”
The news was of her boy’s home.
Not long before her 32-year-old son, Staff Sgt. Shaun Mittler, deployed to the Middle East for this third tour of duty, he had bought a three-bedroom house in Clarksville, Tenn., near his Army base. It was his pride.
“Oh my God, he was over the moon about it,” ...
Read more... [Veterans and Their Families Get Help to Become Homeowners]
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Tuesday, 27 March 2012 15:44 |
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Starting in April, the Federal Housing Administration is going to be implementing some new changes that may make it more difficult, if not impossible, for those who now may be able to qualify for a mortgage to qualify any longer; or at least, not without jumping through a lot more hoops.
Most of those within the real estate industry are cognizant of the fact that, for FHA transactions logged on or after April 9, mortgage insurance premiums will increase.
On a 30-year fixed rate loa ...
Read more... [FHA Changes Makes Hard To Buy A Home]
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Wednesday, 21 March 2012 00:00 |
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Are you confused by all the VA mortgage product terminology? You're not alone.
Mortgage loans come in two major categories, government and conventional. Government loans consist of Federal Housing Authority, Veterans Administration and Rural Housing Services. Let's take a look at each:
Government loans
* The U.S. Department of Veterans Affairs backs (but doesn't offer) loans to allow qualifying veterans and active servicemen and servicewomen the ability to obtain home-purchase loans with ...
Read more... [Mortgage terms get your head spinning]
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Monday, 12 March 2012 22:05 |
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The Disabled Veterans National Foundation (www.dvnf.org), a non-profit veterans service organization that focuses on helping men and women who serve and return home wounded or sick after defending our safety and our freedom, is delivering blankets, clothing, caps, hygiene products, food and water valued at approximately $122,429 to the VA Medical Center in Beckley, West Virginia this week. Since 1951, Beckley VAMC has been improving the health of the men and women who have so proudly served ...
Read more... [Disabled Veterans National Foundation Delivers Supplies to Support Veterans in West Virginia]
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Wednesday, 07 March 2012 15:42 |
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Option opens to Veteran borrowers refinancing loans taken before June 2009
President Barack Obama announced on Tuesday a cut in fees on many government-backed mortgages that he said could help millions of Veteran homeowners refinance; part of an election-year push to boost the shaky US housing market.
Under the plan, a typical none Civilian borrower with a loan backed by the Veterans Administration could save $1,000 a year by refinancing into a new VA loan, the White House said. The fee reduct ...
Read more... [Obama mortgage fee cuts offer relief to millions of Veteran homeowners]
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Monday, 05 March 2012 15:04 |
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Political unrest across the Middle East has oil prices on the move. Crude oil raced past $110 per barrel last week, a 38 percent increase since just 5 months ago. Gas prices are rising, too up 26 days in a row nationwide.
For Veteran and Active Duty Service Member VA loan mortgage rate shoppers, it adds up to bad news at the pump, and at the bank. Rising oil prices are linked to higher VA Loan mortgage rates.
Higher Oil Prices Lead To Higher VA Loan Mortgage Rates
When oil prices rise, they t ...
Read more... [Current VA Loan Rates Responding To Rising Gas Prices?]
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