Tag Archives: Veterans

VA Property Loan Centers Announces New Regulations May Adversely Influence Veterans Who Apply for a VA Home Loan Modification

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San Diego, CA (PRWEB) January 26, 2012

VA Property Loan Centers announces new updates to the loan mod regulations may possibly be as well restrictive to give adequate assistance for these seeking assistance with their VA loans.

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The Department of Veterans Affairs has enacted temporary adjustments to the administrative law governing federal VA property loan modification.

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VA Home Loan Centers comprehends that the intention of the short-term regulation reform was to enable loan servicers direct authority to modify VA loans in their portfolios. This adjustment would seemingly supply mortgage relief to veteran and active-duty home owners who are in default on VA residence loans. Despite the fact that the program was made to streamline the modification procedure, the United States Department of Veterans Affairs has stated that an unintended consequence of the new law has been the emergence of extra obstacles for the borrowers and loan services.

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The excellent news according to VA Home Loan Centers is that the program creates specific protections for military property owners in difficulty. The short-term law tends to make it more quickly to get help while limiting the fees lenders can charge for the loan modification. Late fees can’t be added to the new house loan balance, but unpaid taxes, homeowners association dues and insurance can be rolled into the mortgage.

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The new rules let VA loans older than one particular year to be repaid in a new 10- or 30-year repayment strategy. If the borrower has a need to have, they could apply for an additional modification soon after 3 years. The new modified VA loan must provide a fixed interest rate, but this new price can be greater than the rate of the prior VA loan.

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VA Property Loan Centers interprets the law to reflect that while the great intentions are evident, an ironic result of the new regulation is that borrowers who need support the most could not be able to acquire the advantages of the plan.

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The regulations state that as a situation of eligibility for loan modification, the borrower have to have acceptable revenue, expenditures, assets and credit history. The issue is that property owners who are in default normally do not have what lenders would contemplate an acceptable credit or revenue history. VA Home Loan Centers recognizes that this clause is as well restrictive and may permit service providers the capacity to deny numerous modification applicants. When a borrower has been denied, the remaining choices are normally bankruptcy, foreclosure or a short sale of the residence.

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VA House Loan Centers acknowledges that while the new guidelines to the loan mod system are intended to give a second possibility, many borrowers will not be in a position to get relief. The result is likely to hold the plan from finishing its objective.

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“Although veteran borrowers are not guaranteed a loan modification, they can apply for one if they meet extremely restrictive criteria,” mentioned Philip Georgiades, chief loan steward for VA House Loan Centers. “Despite the fact that some veterans can advantage from the loan mod system, several will not. The new update to the law was supposed to make it easier for veterans to get a loan modification. The adjustment to the law is an insufficient way to safeguard those who defend us.”

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About VA Home Loan Centers (http://www.vahomeloancenters.org/)

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VA Residence Loan Centers is a qualified lender of mortgage loans to United States veterans. The VA loan system aids veterans, active and former duty military, and particular spouses of U.S. service personnel to achieve home ownership. Services offered by VA Home Loan Centers incorporate actual estate representation, such as VA loan short sale processing, buy help and VA loans application administration. VA Property Loan Centers offers no expense / low price useful loans and solutions to all eligible veterans and their households.

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A loan by means of VA Property Loan Centers is simpler to qualify for than other loan programs by offering relaxed credit suggestions as properly as the no-down-payment, no-closing-charges selection (VA no/no). Other advantages include the capacity to finance the funding charge, no mortgage insurance coverage premiums, no prepayment penalties, low interest rates and month-to-month costs. VA loans offered consist of 15-year and 30-year fixed-price mortgages. Borrowers who apply directly through VA Home Loan Centers might also be eligible for a rebate of up to 1.5 percent of the total loan quantity.

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Borrowers with a Veterans Administration mortgage who would like to apply for a VA residence loan modification, are advised to contact the firm (mortgage servicer, lender, or bank) exactly where they remit their payment.

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Borrowers with a VA loan who have been denied a property loan modification, are advised to make contact with VA Residence Loan Centers to apply for a VA loan quick sale. Free of charge short sale VA loan help and grants are accessible to all borrowers who qualify.

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To discover more or to apply for a VA loan, call 888-573-4496.

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Far more Loan Modification Services Press Releases

Advantage US Vets Desires to Employ Our Heroes, the Forgotten Veterans

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Clayville, N.Y. (PRWEB) June 11, 2013

American veterans are coming property each and every day, only to wind up standing in an employment line. And, sadly, theyre joining the hundreds of thousands vets nationwide already in line.

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These brave guys and girls answered the contact of national service, usually at the high cost of fantastic individual peril and sacrifice. They did a wonderful job: they served us nicely. But when it comes time for their uniforms to come off and return to civilian life, there is no perform. These veterans are Americas forgotten heroes.

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“Federal, state and neighborhood governments guarantee support. So do companies, large and tiny. But the difficulty persists. Several Americans assume the Veterans Administration (VA) takes care of all this, but the truth is that the VA is severely underfunded and understaffed, and cant meet all of the wants of veterans. And so, too often, in seeking employment, vets get caught in red tape,” mentioned Capt. Mark L. Dyson, U.S. Air Force (ret.), and AUV President.

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Thats why nonprofits like Benefit US Vets Inc are a vital remedy to the problem. As Americans, these veterans fought in our name. Now its our time to step up with the support they want when and where they want it.

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The flagship Advantage US Vets project, the Roots &amp Sprouts Farmstead, establishes an upstate New York not-for-profit workplace to employ honorably discharged veteransand supply them a very good paycheck. In the method, it creates an innovative model to tackle the pernicious unemployment among those who have selflessly devoted themselves to our country.

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To support Roots &amp Sprouts, Advantage US Vets seeks your donation through its on the web fundraiser at the IndieGoGo internet site. All Americans interested in making sure employment for U.S. veterans are encouraged to give now. By going to AUVs Indiegogo campaign you can understand much more, and make a difference in the lives of those who served us honorably.

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We are taking bold methods to make the farmstead a reality, Dyson stated. We require your donation. Our vets need to have your support if they are to locate their way out of the despair, depression, hunger, and loneliness that besets them as they make the hard transition to civilian life in todays uncertain economy.

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Roots &amp Sprouts is primed to guide and direct honorably discharged veterans as they take the methods needed to leave their military lives to turn out to be gainfully employed, taxpaying citizens.

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They deserve the great life they fought valiantly to defend. AUVs applications are made to meet the variety of needs of returning veterans. Veterans on the farmstead earn competitive local wages and salaries to carry out a assortment of jobs, from farming, to animal husbandry, to hospitality, and a lot more. With accountability.

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Unemployment is an ongoing issue for U.S. veterans. The number of unemployed veterans in February 2013 was 772,000, a decline of only five,000 from a year earlier, according to federal labor statistics. The issue has been so intractable that it not too long ago attracted coverage from The Washington Post which followed the travails of 1 National Guard officer trying to secure employment for regional veterans in Oklahoma.

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Veterans developed Roots &amp Sprouts for veterans, to help them help themselves. They function in a setting, which is safe, desirable and delivers assistance, instruction, knowledge and companionship. AUVs mission is diverse, revolutionary, and holistic. AUV applications supply recognition, respect, responsibility and rewards.

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Upstate Central New York is identified for its natural beauty, its fertile countryside, and its historic towns and villages. The area provides profession, cultural, educational, ad recreational opportunities in each and every direction.

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We want to give veterans with good jobs. Through our outreach applications and other activities, we also offer them an overall expertise to assist them successfully re-enter civilian life, Dyson said.

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About Benefit U.S. Vets

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Benefit U.S. Vets (AUV) is a veterans driven non-profit organization aimed at enhancing the employment picture for not too long ago returning honorably discharged American veterans from all branches of the armed forces. All members of the volunteer Board of Trustees have a veteran connection. For much more information, check out advantageusvets.org.

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Make contact with:&#13

Betsy Browne, Executive Director, (315) 737-8685, betsybrowne(at)advantageusvets(dot)org&#13

Scott Nance, Director of Strategy and Public Affairs, (301) 515-0749, scottnance(at)advantageusvets(dot)org

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Lung Cancer Asbestos Victims Center Now Urges US Navy Veterans With Mesothelioma Or Lung Cancer To Call Them If They Had Heavy Exposure To Asbestos On A US Navy Ship

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(PRWEB) June 11, 2013

The Lung Cancer Asbestos Victims Center is urging diagnosed victims of mesothelioma, or lung cancer who served in the US Navy, or their loved ones members to contact them if the Veteran had important exposure to asbestos whilst serving on a US Navy ship. According to the Veterans Administration there are at present about twenty one million US Navy Veterans in living in the United States. The Veterans Administration is extremely open about mesothelioma, or asbestos related lung cancer, and US Navy Veterans, due to the fact so numerous Veterans have been exposed to asbestos on a US Navy ship, specially throughout a dry dock overhaul. If a US Navy Veteran is a victim of mesothelioma, or any kind of asbestos exposure types of lung cancer the Lung Cancer Asbestos Victims Center will direct the victim, or family members to most skilled, and experienced mesothelioma lawyers, or asbestos exposure law firms in the nation, because the best possible lawyers, or law firms normally get the very best possible financial compensation final results for their consumers. For much more information diagnosed victims of mesothelioma, lung cancer victims, or their family members members are urged to call the Lung Cancer Asbestos Victims Center at 866-714-6466.

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The States with the biggest quantity of US Navy Veterans: &#13

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The Lung Cancer Asbestos Victims Center says, “Because there are presently 20 million plus US Navy Veterans mesothelioma, or asbestos associated forms of lung cancer victims are diagnosed in all states including Kansas, Idaho, Colorado, Vermont, Massachusetts, North Carolina, New Jersey, West Virginia, Louisiana, Missouri, Oklahoma, North Dakota, Wyoming, New Mexico, Arizona, Nevada, and South Carolina.” According to the US Centers for Disease Handle of the 2500, to 3000 US citizens who will be diagnosed with mesothelioma this year, about 1 third served in the US Navy.” http://LungCancerAsbestosVictimsCenter.Com

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The Lung Cancer Asbestos Victims Center says, “Aside from the US Navy, other higher danger workplaces for asbestos exposure include shipyards, power plants, manufacturing factories, chemical plants, oil refineries, mines, smelters, aerospace manufacturing facilities, demolition building work internet sites, railroad repair yards, automotive manufacturing facilities, or auto brake shops. With mesothelioma, or lung cancer triggered by asbestos exposure the cancer may possibly not show up till decades right after the exposure. As extended as the victim, or their family members can prove the exposure to asbestos, we will do every little thing possible to help them get what might be substantial monetary compensation.” For much more data please call the Asbestos Victims Center anytime at 866-714-6466. http://LungCancerAsbestosVictimsCenter.Com

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SBA Shows Support For Veterans With New Pledge

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Chicago, IL (PRWEB) June 09, 2013

While The Federal Savings Bank is busy with some veterans trying to make new property purchases, other veterans are kickstarting little businesses – an endeavor the Tiny Business Administration would like to assistance.

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The SBA plans to increase its lending to veterans by $ 475 million more than the next five years, adding an additional 2,000 veterans expanding or starting their personal tiny company. According to the SBA, 9 % of veterans are tiny organization owners. Despite two.45 million veteran-owned firms employing more than 5 million individuals, the SBA notes that they nevertheless struggle to secure adequate financing via traditional channels.

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The 5 % increase to veteran lending is referred to as the Veteran Pledge Initiative, and will certainly help the more than 21.five million veterans in the U.S. transition to the civilian workforce and develop jobs.

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“Our service males and girls have created incalculable contributions and sacrifices for our country, and supporting them as they pursue their dreams to begin or develop their own company is one of SBA’s highest priorities,” said Karen Mills, SBA administrator. “Through this partnership with national and regional and neighborhood lending partners, we stand ready to serve veteran entrepreneurs with loan guarantees, entrepreneurial instruction, and crucial tools to help them start off companies, drive the nearby economy and produce jobs for themselves and their communities.”

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In order to make this pledge reality, the SBA has formed lending partnerships with 20 massive financial institutions as well as hundreds of community banks scattered throughout the U.S. The program will be implemented alongside the VetLoan Advantage plan that offers instruction and discounted financing to veteran organization owners. In addition, there are 15 Veterans Organization Outreach Centers with thousands of integrated tiny company development centers with even a lot more little organization counselor volunteers that help a lot more than 200,000 reservists, veterans and disabled servicemen, according to FOX Enterprise.

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“This new SBA initiative really highlights the Administrations’ commitment to assisting the nations’ veterans,” said Terry Robinson, president of Sunovis Financial. “It is ironic that even even though our nations’ veterans are willing to threat their lives, a lot of lenders are unwilling to risk lending to veterans. I locate the program to be an superb modify to this mindset.”

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Contact Federal Savings Bank, a veteran-owned bank, at (877) 788-3520 if you are a veteran interested in beginning your own company and need financing assistance.

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Sunovis Financial Highlights New SBA System Focused on Veterans

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San Francisco, CA (PRWEB) Might 27, 2013

Early final week the U.S. Little Business Administration (SBA) announced that they would be launching the SBA Veteran Pledge Initiative, a commitment to increase lending activity to U.S. Veterans by five percent a year more than the coming five years. The SBA expects the initiative to assist roughly 2,000 U.S. veterans get modest organization loans by growing veteran lending by $ 475 million more than the coming 5 years.

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The SBA has begun this initiative in partnership with their prime 20 national lending partners and an further 100 regional lending partners. The initiative was created to address issues that veterans frequently face when trying to raise capital for a new tiny enterprise.

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This new SBA initiative truly highlights the Administrations commitment to assisting the nations veterans. It is ironic that even though our nations veterans are prepared to threat their lives, many lenders are unwilling to danger lending to veterans. I discover the program to be an superb adjust to this mindset, stated Terry Robinson, president of Sunovis Economic.

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The new program is noticed as a good compliment to the existing SBA partnership with the National Association of Improvement Businesses that has been offering training and financing discounts to veterans who are interested in starting a little enterprise or currently have an existing business.

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Our service males and females have made incalculable contributions and sacrifices for our nation, and supporting them as they pursue their dreams to start or grow their personal enterprise is 1 of SBAs highest priorities, SBA Administrator Karen Mills mentioned.

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Whilst small businesses make up a massive percentage of organizations in the U.S., veterans account for nine % of these tiny organizations. Together they employ more than 5 million men and women and contribute extensively to the U.S. economy.

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Big Banks Target Veterans for Foreclosures

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Chicago, IL (PRWEB) May 17, 2013

The Federal Savings Bank echos news that veterans are finding themselves in difficult financial situations and facing mortgage foreclosure. However, in at least one state, they are even being targeted by banks looking to profit off foreclosures.

According to Atlanta ABC affiliate WSB-TV, lawyers in Atlanta, Georgia, are receiving hundreds of cases in which veterans are being victimized by big banks and ultimately end up in foreclosure. In one instance, a man was not in foreclosure and had no mortgage loan issues, but his bank suggested he apply for a loan modification. As reported by the source, during the two-year-long process that ensued, the veteran was instructed by the bank not to pay the mortgage. However, soon after, lenders were sending astronomical bills he couldn’t pay.

Similarly, Air Force veteran Richard Leder’s bank told him not to pay his lenders, and his home was foreclosed five months later even though he had the money to pay back what was owed.

It is important to bank with a financial institution you trust. The Federal Savings Bank is a veteran owned bank that puts you first. Visit us today to learn more.

The attraction of targeting veterans is likely because VA home loans are insured, WSB-TV reported. After foreclosure, a bank can sell the home loan to another mortgage company and still keep the insurance money – thus earning double profits. The problem is that the misguided instructions given to veterans are usually over the phone or in person, so there is no written record of them. This makes it much harder for homeowners to prove that the banks were acting in bad faith.

National measures

Fortunately, many states are implementing strong initiatives to help veterans who are at risk of foreclosure. For example, Michigan recently introduced a $ 5 million veteran homeowners’ assistance program. Through this new system, both active military members and veterans will have the opportunity to get financial aid from the state.

Veterans Affairs Supportive Housing (HUD-VASH), from the Department of Housing and Urban Development, is also a great resource for homeless veterans to get assistance with finding permanent homes.

Atlanta lawyers are working hard to bring justice for the veterans who were victimized by big banks. Some of the offenders are offering settlements, but for many defendants, that isn’t sufficient.

“There’s not enough money to compensate me both emotionally and physically for what I went through,” Lydia Smith, one homeowner who was targeted, told WSB-TV.