Entries by emg2017

Who is Eligible for a VA Loan?

Veterans who served on active duty and were discharged under conditions other than dishonorable, during World War II and later periods are eligible for VA loan benefits. World War II (September 16, 1940 to July 25, 1947), Korean conflict (June 27, 1950 to January 31, 1955), and Vietnam era (August 5, 1964 to May 7, […]

VA Loan Questions and Answers

Can I get a VA loan if I have had a bankruptcy in the last few years? VA credit standards state that a veteran with a bankruptcy less than 3 years ago would generally not be considered a satisfactory credit risk unless: the veteran or spouse has obtained items on credit since the bankruptcy and […]

5 Steps to a VA Loan

Apply for a Certificate of EligibilityA veteran who doesn’t have a certificate can obtain one easily by completing VA Form 26-1880, Request for a Certificate of Eligibility for VA Home Loan Benefits and submitting it to one of the Eligibility Centers with copies of your most recent discharge or separation papers covering active military duty […]

Bankruptcy Questions and Answers

I am a cosigner for a debt, how does bankruptcy affect my obligation? If the debt is a dischargeable debt then you will not have to pay it. However, the cosigner will become primarily responsible for the debt. Be sure to list the co-signer as a creditor in your schedules as they have a contingent […]

Bankruptcy and Bill Collectors

One of the major benefits of filing for protection under Chapter 7 is that many creditor actions are stayed. This means that debt collection efforts and foreclosure is halted. Once a creditor or bill collector becomes aware that you have filed for bankruptcy protection, he or she must stop all efforts to collect the debt. […]

About The Bankruptcy Process

When making financial decisions during the process, you should consult your attorney. In particular there are three items worth mentioning: Under bankruptcy law, certain luxury purchases over $1000 within 60 days of the bankruptcy filing are presumed non dischargeable. Under bankruptcy law, cash advances aggregating $1000 within 60 days of the bankruptcy filing are presumed […]

Second Mortgage Rates

If you have a fixed-rate loan, the interest rate is set for the life of the loan. However, many companies offer variable rate mortgages, also known as adjustable rate mortgages or ARMs. These provide for periodic interest-rate adjustments. If your loan contract allows the mortgage company to adjust or change the interest rate, be sure […]

Second Mortgage Costs

We may charge you a fee for lending you money. The fee is usually a percentage of the loan and is sometimes referred to as “points.” One point is equal to one percent of the amount you borrow. For example, if you were to borrow $10,000 with a fee of eight points, you would pay […]

Home Equity Credit Lines

If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates and they may provide you with certain tax advantages unavailable with other kinds of loans. (Check with your tax advisor for details.) […]

Relocation Issues for Kids

by Shelley Seale, RPSRelocation.com Every year, one out of five American families move. One of the most important issues to anyone with kids is their reaction to the news that they’re moving and their adjustment to the new home. Being informed is very important to children. One of the worst mistakes we can make as […]