Mineral Wells Index, Mineral Wells, TX

Veterans Corner

November 4, 2012

VA’s guaranteed home loans for vets hits the 20 million mark

By JIM VINES

The Department of Veterans Affairs has announced it has guaranteed 20 million home loans since its home loan program was established in 1944 as part of the original GI Bill of Rights for returning World War ll veterans.

The 20 millionth loan was guaranteed for a home in Woodbridge, Va., purchased by the surviving spouse of an Iraq War veteran who passed in 2010.

Given the current low interest rates, the program has grown significantly in the past five years, with 71 percent more purchases and 20 times as many refinances processed in fiscal year 2012 than in FY 2007. Currently, there are 1.7 million VA guaranteed home loans in existence with a total value of $284 billion. The VA has guaranteed 540,000 mortgages in 2012.

The 20 millionth VA home loan is a major milestone and is a testament to the VA’s commitment to support and enhance the lives of veterans, service members, their families and survivors. As a result of their military service and sacrifice, as a group, military personnel prove to be disciplined, reliable and honorable, the traits that are ideal for this kind of national investment.

The program makes home ownership more affordable for eligible veterans, service members and surviving spouses by providing access to lower cost financing. The VA loans are also attractive within the mortgage industry because they protect lenders from loss if the borrower fails to repay the loan.

Mortgages guaranteed by the VA had the lowest foreclosure rate for the last 17 quarters and the lowest delinquency rate for the last 14 quarters compared to all other types of home loans in the nation, including prime loans, according to a report by the Mortgage Bankers Association.

Much of the strength of the VA’s home loan program stems from the efforts of the VA employees and its industry partners nationwide, to ensure veterans receive every possible opportunity to remain in their homes and avoid foreclosure. Since 2009, the VA’s efforts have resulted in over $8 billion in savings to taxpayers in foreclosure avoidance.

Veterans may obtain a certificate of eligibility for a VA guaranteed home loan through the joint Department of Defense, VA web portal eBenfits, at www.ebenefits.va.gov. To obtain information about the VA Home Loan Program, visit the program’s home page at www.benefits.va.gov/homeloans.

Diabetes awareness

November is Diabetes Awareness Month. For many veterans, especially Vietnam Veterans, the onset of diabetes is very prevalent because of the exposure to Agent Orange. The exposure to herbicides during military services in other areas is also significant. For information regarding signs and symptoms, risk factors, prevention, and benefits, go to www.diabetesmilitaryveterans.gov.

Veterans Day is Nov. 11. Acknowledge our veterans when you see them by thanking them for their service. Remember to vote – you can make a difference.

Speak to you again next week.

Jim Vines is commander of AmVets Post 133 in Mineral Wells. Contact him at jim.helpingveterans@gmail.com.

1
Text Only
Veterans Corner
  • Veterans' Corner - April 13, 2014

    The United States Navy is surveying enlisted women and trying to gauge those women interested in volunteering for submarine force duty.

    April 14, 2014

  • Veterans' Corner - April 6, 2014

    Used the GI Bill benefits?

    April 7, 2014

  • VETERANS’ CORNER: Veterans with ALS eligible for housing assistance grants

    The Department of Veterans Affairs has announced that veterans and active duty military personnel with service-connected amyotrophic lateral sclerosis, commonly known as Lou Gehrig’s disease, are now medically eligible for grants up to almost $68,000.

    March 30, 2014

  • Veterans' Corner - March 23, 2014

    U.S. technology trade associations, in an online community, is partnering to help veterans transition to civilian careers.

    March 24, 2014

  • Veterans Corner – March 16, 2014

    The Department of Veterans Affairs has initiated a multi-faceted approach to reduce the use of opioids among America's veterans using VA health care. The Opioid Safety Initiative (OSI) is a comprehensive effort to improve the quality of life for the hundreds of thousands of veterans suffering from chronic pain.

    March 16, 2014

  • Veterans' Corner - March 2, 2014

    The Department of Veterans Affairs has announced the phased roll out of newly designed, more secure Veteran Health Identification Cards (VHIC).

    March 3, 2014

  • Veterans' Corner - Feb. 16, 2014

    The constant relocation in dealing with multiple deployments can be a hectic life for children of military families.

    February 17, 2014

  • Veterans' Corner - Feb. 2, 2014

    There will be a FREE Franchise Expo for veterans and military spouses in Houston, Texas, Saturday, Feb. 8, 2014.

    February 3, 2014

  • Lawmakers, veterans groups step up efforts to fight cuts

    A combination of lawmakers and veterans groups are stepping up efforts to fight cuts to benefits for military retirees under the bipartisan budget agreement passed by Congress before the holiday break.

    January 6, 2014

  • Veterans' Corner - Dec. 29, 2013

    New regulations developed by the department of Veterans Affairs recently, will allow veterans with severe traumatic brain injury  (TBI), who are diagnosed with any of five other ailments to have an easier path to receive additional disability pay under new regulations developed by the Department of Veterans Affairs.

    December 30, 2013

Featured Ads
Mineral Wells Index


Click on a photo to view our SmugMug page

Front page
Seasonal Content
AP Video
Raw: More Than 100,000 Gather for Easter Sunday Raw: Greeks Celebrate Easter With "Rocket War" Police Question Captain, Crew on Ferry Disaster Raw: Orthodox Christians Observe Easter Rite Ceremony Marks 19th Anniversary of OKC Bombing Raw: Four French Journalists Freed From Syria Raw: Massive 7.2 Earthquake Rocks Mexico Captain of Sunken SKorean Ferry Arrested Raw: Fire Destroys 3 N.J. Beachfront Homes Raw: Pope Presides Over Good Friday Mass Raw: Space X Launches to Space Station Superheroes Descend on Capitol Mall Man Charged in Kansas City Highway Shootings Obama Awards Navy Football Trophy Anti-semitic Leaflets Posted in Eastern Ukraine Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Deadly Avalanche Sweeps Slopes of Mount Everest
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Stocks
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Must Read