Washington, DC, November 13, 2008 --(PR.com
)-- Congress and the President have both acted in a bold move to help assist thousands of deserving military home owners to prevent foreclosure and make the cost of home ownership easier to bear. In October on this year (2008) President Bush signed into law, the Veterans Benefits Improvement Act of 2008. This new law brings many necessary and earned benefits to our nation’s military and veteran home owners. As most of the country is now aware, we find ourselves sliding deeper and deeper into a recession. It is the hope of all Americans that our great country find its way out of this turmoil as soon as possible, however until that time occurs, we cannot deny that owning and keeping our homes seems more and more difficult.
Preventing Foreclosure and lightening the burden of mortgage payments
Veterans and military home owners across the nation are faced with job losses, increased gasoline prices, increased food costs and the emotional stress that comes with all of these recessionary items. At times like this one of the places we find the most solace is in the comfort of our own homes. Lately however, more and more of us worry if we will be able to afford next month’s mortgage payment. For most home owners in this country, the ability to lower their payments via a mortgage refinance is pretty much impossible in today’s mortgage world. THIS IS NOT TRUE for our nation’s veterans and military home owners thanks to the ever expanding VA loan programs being offered by VA approved lenders
. This new law now makes it possible once again for veterans to harness the saving power of the VA HYBRID LOAN. The VA has a loan program that allows veterans the opportunity to take advantage of lower than normal interest rates for a period of 3 or 5 years. This is the VA Hybrid Arm and is not to be confused or feared as the sub-prime Arms or other conventional Arms of yesteryear. “It is amazing how many veterans are initially afraid to even speak about the VA Hybrid Loan at the beginning, and then once I help them see through the media spin and realize how much this amazing program can help them in the short and long term, they [veteran home owner] are chomping at the bit to get the loan done.” Says Ryan Johnson of Flagship Financial Group Branch 403
. LowVARates.com, a website designed and dedicated to assist and educate veteran home owners, has been educating veterans on this VA Hybrid loan since earlier this year. Unfortunately, just as veterans were catching on, the government’s authority to offer such loans expired and the program was no longer available until now. Veterans and active military, do yourselves a favor and at least explore the new options available to you through the Veterans Benefits Improvement Act. As this great nation, which you have served so diligently continues to face economic uncertainty, one this remains stable, and that is the va home loan program and your benefits. As owning a home and making mortgage payments becomes more and more difficult, consult with an approved VA lender and make sure you are aware of all that you are entitled to.