Unemployment VA Benefits

By Tim Anderson

Veteran soldiers returning from service are often unable to work due to injuries. Others have spent their entire careers serving in the armed forces and may find themselves entering a civilian population that has no direct need for their particular skills. There are a number of reasons why veterans may find themselves unemployed, but thankfully, there are a variety of unemployment benefits that come down from the federal level to ensure that the people who keep the country safe are taken care of.

VA home loans ensure that eligible veterans can obtain or maintain an abode despite their unemployed status. While the specific guidelines vary state to state, the home loan guaranty helps veterans buy or build their own home, whether it be a condo, a house or an apartment. In addition, the loan can help veterans refinance an existing mortgage if required, as well as enable them to repair an existing facility if it is in need of such.

Health care benefits are one of the most important aspects of veteran unemployment aid. Whether a veteran is retiring after a career of service or is someone who has been injured in a past battle, there are a number of situations where the health of the veteran is compromised in some way, and without a job they cannot pay for the necessary health insurance. The government runs over 1,400 facilities to cover the needs of veterans, with a comprehensive program that depends upon the level of service a veteran has performed.

Whether a veteran is permanently or temporarily disabled or is over the age of employment, an individual might find themselves faced with an income that is too low to cover their cost of living. As long as a veteran has performed enough time in service and either retired or was given an honorable discharge, they are eligible for a federal pension to help them cover their costs of living.

On their own, many veterans find themselves unable to cover the cost of many amenities that regular citizens take for granted, such as life insurance. The government offers life insurance policies for unemployed veterans as a way of compensation for time served. Any member of the armed forces is eligible so long as they meet the requirements for time served. Coverage varies from personal life insurance to family policies.

While it is an unpleasant situation, many veterans face serious health issues after their time in the military. When there are dependents in the family who rely upon the income of that soldier, it can lead to disparaging circumstances. Unemployed veterans can rest assured that their dependents and families will be taken care of should they pass on, as well as if they are too disabled to work.

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Underwriting Guidelines for VA Mortgage Refinancing

By David Rouse

Americans started providing benefits for veterans before the U.S. was even a country. The Pilgrims passed laws requiring the colony to take care of soldiers hurt or disabled during the Pequot Indian war. Post-WWII, the government decided to give housing benefits to soldiers. Today, Veterans Affairs (VA) does not give loans directly to veterans but encourages lenders to give $0 down payment loans to veterans by guaranteeing the loans against losses.

The VA guarantees up to 25 percent of a veteran's loan amount. If a home with a $100,000 mortgage is foreclosed upon, the VA will pay for up to $25,000 in losses to the lender if the home does not sell for enough to recoup the mortgage balance and foreclosure fees. The standard loan limit is $417,000 for a VA loan, but in certain high balance counties the limit may be as high as $1,094,625 as of 2011. These limits are subject to change; check with your lender for the limits in your county. VA loans allow $0 down payment and can even include loan balances that exceed the purchase price if the funding fee or energy-efficient items are included in the loan amount.

The VA only offers loan guarantees for eligible veterans and their spouses or widows. Each applicant must provide a copy of his DD214 discharge paperwork and provide a certificate of eligibility from the VA. This information is included in the loan application, along with all of the other qualifying documentation required. Veterans must provide proof of income and employment, along with proof of the funds to close if required.

VA loans require the borrower to pay a funding fee. The funding fee varies, depending on the type of loan and how many times the benefit has been used previously. If the benefit has not been used before, then the funding fee is 2 percent of the loan balance when the down payment 5 percent or less of the purchase price. If the veteran used the benefit to purchase a prior home, then the funding fee is 3 percent of the purchase price. If the veteran did not serve on active duty but was a reservist or national guardsman, then the first time use funding fee is 2.75 percent.

Only a VA-approved appraiser may provide an appraisal for a VA-guaranteed loan. Mortgage lenders must also have an underwriter that has successfully completed the Lender Appraisal Processing Program (LAPP) and has received a Staff Appraisal Reviews (SARS) approval from the VA to examine the appraisal. Many VA loans require very little equity in the home, so the lender must diligently examine the appraisals for fraud or excessive values.

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U.S. Army Reserve Veterans Benefits

By Maggie O'Leary

Veterans of the United States Army Reserve are entitled to many benefits. The benefits for veterans who retire after 20 years of reserve service are greater than for those who retire with less than 20 years of service. These benefits cover health care, burial and funeral benefits, and other privileges.

Veterans who leave the Army Reserves after less than 20 years of service are not entitled to health care from the Veterans Administration (VA), unless they leave the Reserves due to a disability. Those who retire with more than 20 years of service are entitled to full health care benefits at any VA hospital or medical facility.

Only Army Reserve veterans who retire with over 20 years of service are granted a retiree military identification card and lifetime access to military installations.

Army Reserve veterans must be retired with over 20 years of military service to enjoy unlimited shopping privileges at any Army/Air Force Exchange Service (AAFES) Post Exchange or Base Exchange, or any Defense Commissary location.

Army Reserve veterans who retire with over 20 years of military service may take advantage of SGLI policies in amounts of up to $400,000 at very low premiums.

All Army Reserve veterans are entitled to military funeral benefits, to include a flag and a bugler to sound "Taps." Those who retire with more than 20 years of service are entitled to a full color guard with firing squad.

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Types of First Time Home Buyer Loans

By Shauna Zamarripa

First time home buyers are normally a huge segment of the real estate market. However, most first time home buyers do not know the differences in home loan financing. Being educated about the choices and programs available can save a first time home buyer thousands of dollars in interest and fees over the term of the mortgage. Enclosed is information pertaining specifically to the types of first time home buyer loans available.

Due to the low down payment requirements of 3.5% and the minimum credit score requirements, FHA is one of the best programs for first time home buyers. Terms will range from 10 to 30 years for most of the fixed rate loans available to first time home buyers. Monthly payments are calculated with property taxes and insurance factored in to determine affordability for the first time home buyer.

FHA HUD loan programs are designed for first time home buyers who are interested in purchasing a FHA foreclosure home. This loan program offers down payments as low as $100, closing cost assistance up to $2,500 and a small amount of repair escrow on select homes that require repairs. This mortgage is a fixed rate mortgage that factors in taxes and insurance into the monthly payment. Terms range from 10 to 30 years.

First time home buyers with excellent credit should consider a conventional loan. The down payment requirements are 5-20% of the home's purchase price. However, buyers with higher credit scores will benefit from lower interest rates, saving thousands of dollars over time. Terms on fixed rate conventional loans range from 10 to 30 years, and the interest rate starts at the market rate. Interest rates will decrease based on the creditworthiness of the buyer.

Military veterans who have been honorably discharged or active duty military can qualify for a VA loan that requires no down payment. The interest rate on a VA loan is typically up to 1 percent less than the market rate, and the term ranges from 10 to 30 years. Property taxes and insurance are also factored into escrow for the monthly payment on these loans to determine affordability for the veteran. Veterans must pay a 1% funding fee on their loan at closing.

Disabled veterans or veterans who have been discharged from service due to medical conditions are eligible for VA loans with no down payment, no funding fee and rates up to 2% less than the standard market rate. First time home buyers that have been in military service can take advantage of this loan with qualifying documents from the VA. Property taxes and insurance are factored into this loan to determine an affordable monthly payment. Terms range from 10 to 30 years.

USDA loans offer first time home buyers 102% financing on their home. USDA guidelines stipulate that only certain areas of a city or state qualify for this funding program and must be deemed as "rural" (having a population less than 10,000). There is no down payment required for a USDA loan and no monthly fee for mortgage insurance. However the rate can be 1 percentage point higher than the standard market rate in some areas. Terms range from 15 to 30 years.

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TRICARE Eligibility for Veterans

By Amy Pike

TRICARE provides affordable health care for active duty military members and their families. There are several plans from which to choose and include pharmacy benefits, dental options, and a vision plan. Transitional benefits may be available when a service member separates from the military.

A service member must enroll in the Defense Enrollment Eligibility Reporting System (DEERS). While on active duty, they are enrolled in a TRICARE Prime plan. Upon retirement, the service member can change the type of plan for themselves and their family. Moving to a different location can impact the service member's eligible benefits.

Active duty service members do not pay fees for their TRICARE benefits and there are minimal fees for family members. As a retiree, there are enrollment fees and copayments.

Any service member who served on active duty is eligible to enroll in Veterans Administration (VA) health care benefits. The VA no longer only provides services to those with service-connected disabilities. Veterans are assigned to one of eight categories based on service-connected disability, income level and other factors. VA coverage includes preventative medicine and primary care as well as nursing home care and dental services.

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Top Veterans Administration Drug & Alcohol Rehabs

By John Willis

If you're a veteran suffering from substance abuse, you may qualify for treatment through the Department of Veteran's Affairs. If you think you have a problem, immediately go to "Locations" page in the resource section or the "National Veteran's Helpline" listed here, for top Veterans Administration drug and alcohol rehabilitation.

The best VA drug and alcohol rehab for you is probably the closest. At least it's the one you should consider first. VA care has been highly criticized, but that's true of private healthcare, too. VA healthcare has reformed itself over the last twenty years. In many cases, VA care is equal to or exceeds the care you would find in any private hospital. All states have Veterans Affairs facilities, but not all states have facilities specializing in drug and alcohol rehabilitation.

50 Irving St NW

Washington, DC 20422-0001

(202) 745-8251

Drug Dependence Treatment Program

10701 East Boulevard

Cleveland, OH,

(440) 526-3030

11301 Wilshire Blvd,

Los Angeles, CA 90073

(310) 471-3711

If you need further assistance locating the best VA treatment facility for you, check the locator website or call the National Veterans Helpline:

1-800-507-4571

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Tips on Applying for VA Disability

By Lee Grayson

Disability compensation from the Department of Veterans Affairs provides benefits to current or former service members for injuries or diseases incurred while on active duty in the military. Conditions aggravated by military service may also qualify for benefits. Recipients discharged from service under dishonorable conditions usually do not qualify for benefits, even if the disability is service-related. Spouses, children or parents of disabled veterans may also qualify for benefits. Applications may be filed in person, by mail or online.

Letters to the Department of Veterans Affairs or local VA office must include a specific claim, dates and copies of any documentation and proof you have in your possession. Do not, under any circumstances, send original documents. Send the application forms and paperwork to the exact return address on the form or letter or deliver in person to a VA office. If an agent is listed, send the package to the full address listed for correspondence and note the name of the agent requesting the forms, if there is one.

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Specific requirements must be met to confirm a disability. Documents showing proof that the claimant served in the military and that the illness or injury was sustained while on active duty should be included if possible. Current medical records describing the condition may also be supplied. VA investigators have access to service and battle records, but specific dates of service and a narrative of the causes of the condition help staff research records. Some medical conditions, classified as "presumptive service related," are recognized by the VA as directly linked to service even though diagnosed later in life. Examples include exposure to chemicals such as Agent Orange, which has been linked to certain diseases.

Disability claims work through the system in an organized fashion. Filing a duplicate requires the claim to return to the original status for processing. Claims may be amended at any time to include additional conditions, but these changes require additional documentation and processing. Continually adding conditions to an open claim generally delays the VA's decision on the claim. Follow up with a letter or telephone call to determine the status of your claim, but avoid sending a duplicate claim.

Legal counsel may assist in filing claims and requesting status information on current claims, but a lawyer is not required for filing a disability claim. Local VA offices assist in completing forms and collecting documentation necessary to make claims. The Veterans of Foreign Wars, Disabled American Veterans, American Legion and other veterans' service organizations offer free or low-cost assistance in completing forms and putting together documentation to accompany claims. VA does not recognize power of attorney for a family member.

Send as many relevant documents as possible either with the original claim or in response to VA requests for evidence. Many documents arriving at various times can delay the claims process by becoming separated or misfiled. Send information with a confirmation of delivery so you'll know that the package arrived. Be aware that VA compensation and pension claims are deeply backlogged at various offices due to many returning veterans from current conflicts.

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