Noteboom The Law Firm

Growing Housing Loans for Veterans in 2012

According to the National Mortgage Professional Magazine, while the nation’s real estate market continues to struggle, the Department of Veterans Affairs (VA) has reported positive growth in their VA home loan benefit program for veterans.

Recent reports from the VA show that the mortgages they guarantee are among those with the lowest delinquency and foreclosure rates. The program, which has been around for nearly 68 years, has resulted in over 19 million home loans to veterans and their families, totaling over $1 trillion.

In 2011, the VA reports that 72,391 veterans and service members were helped with mortgage defaults and foreclosures through their home loan benefit program. This was an increase of over 7,000 cases helped in 2010, and during the same time span the foreclosure rate on VA guaranteed loans dropped 28%.

During the 2011 fiscal year, the VA’s home loan program guaranteed over 350,000 loans, 14% more than the previous year, and reported totals of over 1.5 million active loans across the nation. The program is a great benefit to disabled veterans and their families as it provides a no-down-payment loan and protects them from the abrupt foreclosure losses many civilian families face.

If you are a disabled veteran who has been denied disability compensation or have not yet applied for benefits from the VA, a South Florida disability attorney from LaVan & Neidenberg is ready to help. To learn if you are entitled to certain programs and benefits contact our veteran’s disability rights firm today – 1-888-234-5758.