Weatherford Democrat

Viewpoints

November 5, 2012

COLUMN: Veteran's Corner

— The Department of Veterans Affairs has announced it has guaranteed 20 million home loans since its home loan program was established in 1944 as part of the original GI Bill of Rights for returning World War ll veterans. The 20,000,000th loan was guaranteed for a home in Woodbridge, Va., purchased by the surviving spouse of an Iraq War veteran who passed in 2010.

Given the current low interest rates, the program has grown significantly in the past five years, with 71 percent more purchases and 20 times as many refinances processed in fiscal year 2012 than in FY 2007. Currently, there are 1.7 million VA guaranteed home loans in existence with a total value of $284 billion. The VA has guaranteed 540,000 mortgages in 2012.

The 20,000,000th VA home loan is a major milestone and is a testament to the VA’s commitment to support and enhance the lives of veterans, service members, their families and survivors. As a result of their military service and sacrifice, as a group, military personnel prove to be disciplined, reliable, and honorable, the traits that are ideal for this kind of national investment.

The program makes home ownership more affordable for eligible veterans, service members and surviving spouses by providing access to lower cost financing. The VA loans are also attractive within the mortgage industry because they protect lenders from loss if the borrower fails to repay the loan.

Mortgages guaranteed by the VA had the lowest foreclosure rate for the last 17 quarters and the lowest delinquency rate for the last 14 quarters compared to all other types of home loans in the nation, including prime loans, according to a report by the Mortgage Bankers Association.

Much of the strength of the VA’s home loan program stems from the efforts of VA employees and its industry partners nationwide, to ensure veterans receive every possible opportunity to remain in their homes and avoid foreclosure. Since 2009, the VA’s efforts have resulted in more than $8 billion in savings to taxpayers in foreclosure avoidance.

Veterans may obtain a certificate of eligibility for a VA guaranteed home loan through the joint Department of Defense, VA web portal eBenfits, at www.ebenefits.va.gov. To obtain information about the VA Home Loan Program, visit the program’s home page at www.benefits.va.gov/homeloans.

Text Only
Viewpoints
  • larry jones cropped:color NOW HEAR THIS: Going on a wild goose chase

    In recent years I’ve written quite a bit about the introduction and negative consequences of non-native or invasive species. Fire ants, killer bees, English sparrows, Asian carp, feral hogs and others too numerous to list have forever changed our local ecosystem.

    April 13, 2014 1 Photo

  • LETTERS TO THE EDITOR: TV offers

    Have you seen those TV offers where they give a price for one product and then offer a second like items for-free? All you have to do is pay a separate shipping and handling charge for the “free” items.

    April 13, 2014

  • John Paul Carter-color.jpg NOTES FROM THE JOURNEY: What’s in a name?

    Names are important. When my son, Rush, (who’s named after my father) and his wife, Vanessa, were expecting their third daughter, I gave up on having a male namesake and suggested, in jest, they call her “Johnnie Pauline.”

    April 11, 2014 1 Photo

  • tiscione, lou.jpg TISCIONE: The Christian and the government

    The church in the Old Testament lived under a theocracy. That is, both the church and state were one. God anointed kings. Civil laws and religious laws were one and the same.

    April 11, 2014 1 Photo

  • larry jones cropped:color NOW HEAR THIS: Getting in the chicken business

    Anyone who is my age or older has heard the famous quote, “A chicken in every pot.” It is normally attributed to Herbert Hoover during his 1928 presidential bid.

    April 6, 2014 1 Photo

  • VIEWPOINT: Obsessed with sports

    I remember reading a synopsis of the five reasons for the “Decline and Fall of the Roman Empire” by Edward Gibbon in which he listed the Romans’ obsession with sports at the coliseum as a cause of the fall of the empire.

    April 6, 2014

  • 0912 one bday wm j kelly 2013 mug.jpg KELLY: What do you think?

    On March 21, this paper published an article about a six-month drug trafficking investigation involving 12 people. On the front page was a photo of the 12 people involved. The use of drugs had made them a sorry-looking bunch. The look in their eyes was particularly disturbing.

    April 4, 2014 1 Photo

  • Hamilton, Lee.jpg Time to fix government

    In 1965, the chairman of the powerful Ways and Means Committee, Wilbur Mills, brought legislation establishing Medicare and Medicaid to the floor of the U.S. House. That was my first year in Congress, and I remember vividly the moment when Mills came to the Democratic caucus to explain his plans.

    April 3, 2014 1 Photo

  • LETTER TO THE EDITOR: Review of ‘Noah’

    TV host Glenn Beck and other stalwarts of the Christian right have attacked the recent blockbuster “Noah” as being “pro-animal” and unfaithful to the Bible.

    April 3, 2014

  • tiscione, lou.jpg TISCIONE: While going, disciple!

    The purpose that God has given to His people is to be holy. He has likewise given His people a mission. The mission of God’s people, the church of Jesus Christ, is as clear as His revealed purpose.

    April 3, 2014 1 Photo

Must Read
Top News
House Ads
AP Video
Raw: Ferry Sinks Off South Korean Coast Town, Victims Remember Texas Blast Freeze Leaves Florida Panhandle With Dead Trees At Boston Marathon, a Chance to Finally Finish Are School Dress Codes Too Strict? Raw: Fatal Ferry Boat Accident Suspicious Bags Found Near Marathon Finish Line Boston Marks the 1st Anniversary of Bombing NYPD Ends Muslim Surveillance Program 8-year-old Boy Gets His Wish: Fly Like Iron Man Sex Offenders Arrested in Slayings of CA Women India's Transgenders Celebrate Historic Ruling Tributes Mark Boston Bombing Anniversary Raw: Kan. Shooting Suspect Faces Judge