Veterans across America now have expanded homeownership opportunities due to the Veterans’ Benefits Improvement Act of 2008, which President George W. Bush signed into law last Friday. Three provisions in the legislation are critical to help veterans during the current housing turmoil.
- The law will make it easier for veterans who have fallen victim to risky sub prime loans to refinance their loans into safer, more affordable loans backed by the U.S Department of Veterans Affairs.
- The legislation also makes the VA loan limit increases permanent, which will help veterans living in high-cost areas.
- The VA also can now offer adjustable-rate mortgages to veterans. That would make homeownership more attainable for military families and personnel who often have to move more frequently than their civilian counterparts.
David Labrecque
Exclusive Buyer Agent
http://www.fletcher-realty.com/
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