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President Obama has promised our country a comprehensive plan to bail the economy out of recession.  In so doing, he may have accidentally misled some people into believing that money will be directly earmarked to help rescue individuals from the personal debt crunches.  Now that news in this area is progressing, more and more people are realizing the truth:  While funds are being distributed to large social programs such as Medicaid, as well as corporate bailouts and infrastructure spending, there is not now, nor was there ever any pan to bail individuals out directly as regards personal debt.  While taxpayer money is being used to fund projects and bail out companies, consumers are getting nothing.  What this really leads to is an increase in taxes, and an economy where almost nobody is willing to lend.

The Economic Crisis Makes Creditors Willing
Because of the massive worldwide economic crisis, families are realizing that now is the time to tighten their purse strings, take hold of their budgets, and get their families out from under the crushing weight of unsecured financial debt.   Fortunately, this economic downturn is affecting creditors as much as individuals, making them more receptive to the idea of debt settlement agreements.  Such agreements allow individuals to pay a part of what is owed and have it regarded as payment in full.  Creditors are willing to do this in order to get their own budgets back in order.  Individuals nationwide are discovering that now is the time to seek out and enroll in a debt settlement program.

A lot of Americans have already done their best to cut expenses and are finding that there’s just no way to make ends meet when it’s time to make their debt payments.  If that sounds like you, perhaps debt settlement should be your next choice. Debt settlement companies have been known to help consumers cut their debt by as much as sixty percent in some cases.  Late fees can be eliminated, and monthly payments can be significantly lowered.  All this is possible WITHOUT declaring bankruptcy. If consolidation is a part of your debt settlement agreement, you could end up with a single affordable monthly payment where you used to have many.  With a plan like this, getting yourself and your family out of debt is an achievable goal.

Most Americans these days are finding that rising prices on everything from gasoline to interest rate have made it nearly impossible to make ends meet.  Credit cards, home loans, student loans, and other forms of debt have paralyzed the average American.  Answering the phone or checking your email can be terrifying if you known it’s going to be another debt collector trying to take money you don’t have.  Finding a safe, trustworthy source of assistance in debt settlement can make all the difference in getting you back on your feet and your life back on track.  Seek out a reputable agency today to get advice on how you can get out of debt.

In 1930, Congress and the President established the “GI Bill” which allowed the Veteran Administration (VA) to coordinate benefits for its service people.  One of these programs, known as the Home Loan Guaranty Program, was created to help returning veterans and their families assimilate back into civilian life after sacrificing so much personally for their country. 

Who qualifies for VA loans?  If you served in the military, naval or air service and are active duty or released from duty for reasons other than a dishonorable discharge, you may qualify.  You had to serve for 90 days active duty or 181 days consecutively in peacetime. If you served less than the minimum requirement because of discharge or service connected disability, you may also qualify. In addition, if you are the surviving un-remarried wife or husband of an eligible service member who died for his/her country, you may too be eligible.  This program was designed to reward you and your loved ones for your service.

“The VA program, in general, is an exceptional program.  Many veterans don’t know it can even benefit them if he/she is overseas.  We’ve been helping active duty service people by putting their families in homes, and giving them peace of mind that their loved ones and their immediate needs are being taken care of while they’re away”, reflects Jamie Utton, Director of Product Development at Mortgage Investors Group.

These loans are available only for a primary home you intend to occupy.  You can’t go and buy a beach house for weekend use with it.  However, you can also use your eligibility to refinance your primary residence and pay off debt (except for Texans, for some reason, they don’t allow it in that state).  Or, if you had a VA loan prior, and the interest rates have dropped dramatically, you can do a “streamline” refinance – no worries about paying for a new appraisal or the hassle of verifying your income.  You’re all set to go.

So what makes the VA loan stand out above other types of financing? It allows for 100% financing for loans up to $417,000 with no reserves (checking and savings money to burn) required. The loan amounts allowed go up to $1.5 million, but you’d have to put some type of down payment into the transaction if you want to borrow that much money, plus show you have enough money to pay your mortgage for two months sitting in the bank if you need it.   And if you’re buying a home, the program allows for the seller to pay up to 4% of the closing costs, based upon the purchase price.  Basically, you can get into a home for very little or no money at a more than affordable market rate.

And the best part?  No extra money is added to your payment for mortgage insurance if you put a less than 20% down payment on the home.  That’s a pretty unique feature that makes this loan more affordable than others.  Most of the time, the veteran  will be required to pay a VA Funding Fee, but it is financed into the loan amount.  So, the funding fee is not an out of pocket expense for closing.  A veteran can be exempt from paying the funding fee for different reasons, including service connected disability, or if he/she is a surviving spouse of a veteran who died in service or from a service related disability.  And regarding credit scores, the VA loan program has more flexibility than some other programs offer. 

If you think you may qualify for this loan, let me first of all say, “Thank you.”  I really appreciate the sacrifices you’ve made for this country.  And if you’re looking to purchase or refinance your home, call a lender today who specializes in VA loans, and take advantage of this great benefit.