An element of the GI Bill that is original of, VA mortgage loans — mortgage loans guaranteed in full because of the U.S. Department of Veterans Affairs (VA) — have soared because the housing crash.
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During an occasion of tight credit and tough financing, this long-cherished system backed a record 631,151 loans in financial year 2015. VA loans aren’t simply market that is grabbing — they’re snagging headlines, too, from talk of the industry-low interest levels with their astonishing security.
But countless veterans and army families are nevertheless at a disadvantage, in component due to longstanding urban myths and misconceptions. A notion of red tape and bureaucracy is something Department of Veterans Affairs officials continue to fight.
Mike Frueh, the mind for the loan system, calls it the “myth of my father’s VA. ”
“It’s the misconception that the mortgage takes too much time to get, it is too cumbersome, it is hard, ” Frueh said. “We can counter that through training, and through constantly handling our system making it better. (altro…)
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