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Tuesday, November 11, 2014

Veterans and real estate…

We tend to celebrate Veteran’s Day like many other holiday in America - with Sales at most stores, with some, but not all having the day off, and, oh, by the way, say “Thank You”, if you happen to meet a veteran today. That’s just how it is and I’m OK with that. Things are a whole lot better now than they were at the end of the Viet Nam War, when a Viet Nam vet on the street was as likely to get jeered as praised. We haven’t done that to our vets for a long while. I guess wars got more popular.

One thing we have done is to extend programs to veterans, some aimed at those who came
back wounded, that make home ownership a little bit easier. The VA Hospital situation was pretty bad for a long while, but now is getting better. The VA Loan program has always been there for returning vets, but has of recent become a bit more useful to them.

Veterans who qualify may find that they can buy a new home for little or no money down, at a very good interest rate and with no monthly cost for Private Mortgage Insurance (PMI). Click here to read a program flyer from John Adams Mortgage Company. Most mortgage companies, banks and brokers offer VA Loan programs. Most programs also limit the closing costs on the sale.

If the veteran has returned with severe war injuries that preclude holding a normal job or is declared by VA to be 100% disabled, there is also a program in Michigan to waive the property taxes on the home. That is often a savings of several thousand dollars a year. Click here to read about the Michigan Law concerning property taxes and disabled veterans.

If you are a recent veteran and perhaps new to the whole world of VA benefits, click here to go the Michigan Department of Military and Veterans Affairs web site. You can click here to go to the VA site and explore all of your benefits. There are many more things that you might qualify for then just real estate related items. You earned these benefits through you service, so don’t be shy about taking advantage of them. 

Good luck and thank you for your service (from one vet to another). 

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