ARCHIVED BLOG POSTS
2012
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The Department of Veterans Affairs has updated its official site to include details of the Honoring America’s Veterans and Caring for Camp Lejeune Families Act of 2012, which is now on record as a public law. This act changes several things about the VA loan program, but the alteration most impor...
11/19/2012
There are two different types of VA Specially Adapted Housing Grants available to veterans with qualifying injuries or conditions; one is known as the 2101(a) program, the other is the 2101 (b) program. Eligibility for the 2101(a) program is described by the VA as follows: “The Specially Adapted ...
11/18/2012
A reader asks, “We are waiting on the appraisal report from the VA. The home we made a offer on has many up-dates. Does the appraiser figure the up-dates that have been done in his final figures? How does that work? I would appreciate any insight you can offer us on the topic.” It’s not quite cl...
11/15/2012
The VA Lender’s Handbook lists a set of specific rules about the kinds of property that can be purchased with a VA guaranteed home loan. For example, borrowers cannot apply for VA loans on property that is not located within the United States or its territories. VA loans are approved only for hom...
11/14/2012
A reader asked us a question over the weekend about VA loan rules for rental and occupancy, writing; “I currently have a VA loan on a house I live in. My family is getting bigger and I need to find bigger house. I can’t sell my house though because I’m upside down, but I could rent it. Can I bu...
11/13/2012
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A reader asks, “We just got this letter about the VA IRRRL program. It says that the number to call is 1-800-949-0101 ext 2316. The notice number is VA 11023693. My wife and I are both retired Majors and have delt with scams before and we don’t mess around. But if this is a VA program that is fo...
11/13/2012
Many borrowers assume the home they will purchase with a VA guaranteed home loan will be a typical suburban home, but not everyone is interested in a single-family dwelling. There are plenty of eligible VA loan applicants who want to explore their options for multi-unit properties. VA loan rules ...
11/12/2012
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November 11 is the “official” Veterans Day commemoration. From the VA official site: “The Veterans Day National Ceremony is held each year on November 11th at Arlington National Cemetery . The ceremony commences precisely at 11:00 a.m. with a wreath laying at the Tomb of the Unknowns and continue...
11/11/2012
At a time when interest rates on home loans and home loan refinancing are at historic lows, many borrowers are interested in refinancing their VA mortgages. Is now the best time to refinance? Many say yes, and with a housing market recovery underway in so many markets across the United States, it...
11/08/2012
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There have been federal disaster areas declared in several states in the aftermath of Hurricane Sandy; Rhode Island, New Jersey, Connecticut, and New York have all taken damage. Home owners there, veterans and civilians alike, are trying to put their normal lives back together as recovery efforts...
11/07/2012
Rainmaker
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Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide