Carmichael Times
Like Us On Facebook Follow Us On Twitter
Founded 1981
Serving Carmichael and Sacramento County
  Home Community Finance Employment Your Home Your Money Your Kids Your Health  
  Business Education Politics Police & Fire Veterans' News Real Estate Consumer News Taxes  
  Religion Food Recipes Gardening Car Care Fashion Beauty Pets  
  Lifestyles Sports Feature Writers Events Environment Human Interest Technology Travel  
$2.99 .Com at GoDaddy! Local Classified Advertising
Pay Legal Ads Online
Messenger Publishing Group
Shop Local Carmichael Rewards Program
Constant Contact

Veterans' News

Helping Veterans Stay In Their Homes

Posted: 1/11/2013

The American dream remains a reality for most veterans
The American dream remains a reality for most veterans.

(NAPSI)—Even in today’s housing market, the American dream remains a reality for most veterans.

The Department of Veterans Affairs (VA) has guaranteed 20 million home loans since its program was established in 1944 as part of the original GI Bill of Rights for returning World War II veterans. The program has grown significantly in the past five years. Currently, there are 1.7 million VA-guaranteed home loans in existence with a total value of $284 billion.

The program makes home ownership more affordable for eligible veterans, service members and surviving spouses by permitting no-down-payment loans with no requirement for mortgage insurance—features that will alone save borrowers whose loans originated in the past year $13 billion over the life of their loans. 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 VA have 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 VA’s home loan program stems from the efforts of VA and its industry partners nationwide to ensure that veterans receive every possible opportunity to remain in their homes and avoid foreclosure. Since 2009, VA’s efforts have resulted in more than $8 billion in savings to taxpayers in foreclosure avoidance.

“At the center of the home loan guaranty program is the idea that veterans and their families are a safe bet,” said Allison A. Hickey, VA’s Under Secretary for Benefits. “As a result of their service and sacrifice, as a group, they prove to be disciplined, reliable and honorable-traits that are ideal for this kind of national investment.”

Veterans can get a certificate of eligibility for a VA-guaranteed home loan through the joint Department of Defense-VA web portal eBenefits at For more information, visit



left Pause Right


About The Carmichael Times | Copyright Notice
Carmichael Times| Paul V. Scholl, Publisher
P.O. Box 14 | Carmichael, CA 95609-0014 | Telephone: 916-773-1111 | Fax Line 916-773-2999
Email: | Site Designed and Hosted by
ISSN#: 1948-1918

Like Us On Facebook Follow Us On Twitter