Loans and Mortgages 
Tip and advice on financing.
There are currently 3 blog entries related to this category.
Optimizing Basic Allowance for Housing
Wednesday, July 28th, 2010 at 8:05am. 605 Views, 0 Comments.
Each month, the government issues a stipend to active duty
military personnel stationed in the United States to alleviate the cost of
housing. This stipend is known as Basic Allowance for Housing, or BAH, and is
dictated by a service member's rank, geography, and number of dependents.
How Does the Government Determine BAH?
The greatest determinate of Basic Allowance for Housing is location. The government carefully reviews data sources and rental listings, and even interviews real estate agents to calculate the proper Basic Allowance of Housing for service members. The government's releases BAH rates once a year, usually in January, and even if a service member who is currently receiving BAH notices that their rank's BAH has…
Ulster County Mortgage Modification Tips On Income
Wednesday, July 14th, 2010 at 2:37pm. 349 Views, 0 Comments.
There is a backlog of hundreds of thousands of mortgage modifications and thousands more get submitted each day. Along with those applications, for thousands of honest and hard-working Americans go the best hopes of keeping their homes. So, getting the applications done right is a very important matter. Still, many...maybe even most of applicants who review their application with me before they submit it make mistakes in that section of the application. They get their own income wrong!
1. Include the correct income. Include the income from the folks signed on the loan. All other household income need only be included if you choose. Even if your spouse or partner or parents or kids contribute to the household income...just include their income if you need it…
An Overview of the VA Loan Program
Wednesday, July 7th, 2010 at 3:07pm. 347 Views, 0 Comments.
What is VA Loan?
The VA Home Loan Guaranty Program , better known as a VA Loan, is offered through lenders and backed by the Department of Veteran Affairs. Most veterans and active military men and women can get one, and the loan can be used to purchase, build or improve a home.
Some of the most recognized benefits of the loan include no down payment, no private mortgage insurance and easier qualification standards.
Who is eligible?
You are eligible if you have served:
- For at least 181 days during peacetime (active duty)
- For at least 90 days during war time (active duty)
- In the National Guard or Reserves for at least 6 years
- You are also eligible if your spouse died while serving in the line of duty
There are other conditions on the loan, such as…
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