Our country’s Troubled Asset Relief Program which provided $700 billion to bailout banks, insurers and automakers angered me. I begrudgingly accepted that it was our nation’s best option for reinvigorating the economy, but people like me — who have never been late on a bill and live within our means — are the ones who are paying for the rash and greedy mistakes of others.
Even under the program, credit has not relaxed much, and good refinancing deals are still hard to come by, but at least for those who have served our country in the military there are some promising options.
For active duty members of the armed services and veterans with VA home loans who have been responsible and have not been more than 30 days in arrears on a payment in a year, there are streamlined government backed refinance loans available that can make their payments lower by 1 %, which can amount to $100 to $600 a month.
MilitaryVALoan.com offers free price quotes for re-fi. They also have new VA home loans which would enable a purchase of a new home at a purchase price in the low $700,000s with a low VA loan interest rate and no down-payment. There are also VA home loansbad credit and poor credit for qualifiers who have endured hardship, such as those service members who find their finances are in disarray after they return home from a tour.
Though I am not a member of the military or a veteran and entitled to VA benefits, I am glad to see that they have some options to aid them in finding an affordable home loan program so they can live the American Dream that they deserve.