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VA Assists Vets with Mortgage Problems

With the current issues with our economy, many people are having trouble making ends meet. That is why the VA is reaching out to vets who are having problems making their mortgage payments. Since 2000, VA counselors have helped about 74,000 veterans, active-duty members and survivors keep their homes, saving the government nearly $1.5 billion.

The VA is not only reaching out to veterans with VA Loans, however. They are reaching out to all veterans who are having difficulty meeting their mortgage payments.

“VA is reaching out to veterans — both those who use our home-loan guaranty program and those who don’t take advantage of our guaranties — to keep people in their homes,” said Secretary of Veterans Affairs Dr. James B. Peake. “I’m proud of our solid record of success in helping veterans and active-duty personnel deal with financial crises.” – VA Reaching Out to Vets with Mortgage Problems, VA website

VA Loan counselors offer assistance to all veterans

The VA is encouraging military members, veterans and surviving widows with at-risk loans to seek advice from VA loan counselors even if their loans are not VA-guaranteed. While VA Loan counselors don’t have the authority to restructure loans (whether or not the are backed by the VA), they can advise veterans on their options including methods to negotiate their mortgages with their mortgage holder.

If you are a veteran who is having difficulty, consider contacting the VA’s loan counselors for some ideas on how you can meet your obligations. It’s easy, just call 1-877-827-3702. It’s a the toll free number that will automatically direct you to the nearest of nine VA regional loan centers.

Many VA Loans avoided the subprime mess

While the number of foreclosures in the US has increased over the last few years as buyers have been enticed by teaser loans and exotic mortgages, the number of VA loan foreclosures has dropped. This is because VA Loans go through a standard screening process before approval.

In recent years it has also been possible for homebuyers to purchase homes without mortgage companies verifying income, credit, and other vital financial information. Not so for VA loans.

“We never did the same things [as mortgage companies] as far as changing rules for what it takes to get a loan,” said Judith Caden, director of the VA Loan Guaranty Service, in a phone interview. “We’ve required underwriting and always had underwriting standards. We’ve always required that [applicant] income and credit be documented. We made sure that someone getting a VA loan could afford that loan.”

More VA Loan Information

The VA home loan guarantee program is an affordable way for veterans to buy a house with a guaranteed loan and no down payment. In fact, over 90 percent of VA-backed home loans were given without a downpayment. More information about the VA home loan guaranty program can be obtained at www.homeloans.va.gov. In addition, you can get more free information through Military.com’s VA Loan page.

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Military Discounts

Military members make daily sacrifices to secure the freedom that many of us take for granted. Sometimes a simple “thank you” doesn’t seem like enough to properly thank all military members for their service on our behalf. Perhaps this is why thousands of stores around the nation offer military discounts to active service members, retirees, veterans, and in some cases, their family members.

We have done our best to verify each offer on this list of military discounts. Please help share this list with other military members and veterans who may be able to use these discounts. You can share them via FaceBook, Twitter, E-mail, or word of mouth.

General Rules About Military Discounts:

Here are some general rules of thumb regarding military discounts:

  • Most military discounts aren’t publicized – it never hurts to ask.
  • Most military discounts are only available to current military members. Some military discounts are available to all veterans, but in general, most discounts are for actively serving military members (some military discounts are extended to all veterans around major military holidays (Memorial Day, 4th of July or Veteran’s Day).
  • Valid ID usually required. Most military discounts only apply if you have valid ID – usually a current Military ID Card or a retiree card
  • Other forms of ID may be acceptable. A Veterans Organization Card (e.g., American Legion and VFW), DD214, discharge paperwork, or other form of identification may work for some military discounts, particularly those around the major military holidays (Memorial Day, 4th of July or Veteran’s Day).
  • Many military discounts vary by location. Many franchises leave discounts at the discretion of the owner.
  • Military discounts are not always the best offer. You may be able to find better deals by shopping around (airlines, hotels, and travel are good examples of times when shopping around may lead to bigger savings).
  • Many hotel chains will match max per diem rates for your area. Always ask.
  • Military discounts are a blessing, not a right. Discounts are offered out of kindness and respect for your service.

For veterans of Iraq or Afghanistan, please check out IAVA. Members there are offered vouchers to many retail stores, such as JC Penney.

Military Discounts and Special Offers

Additions or suggestions? Please contact us if you know of additional stores which offer military discounts. Please send a link to the store or discount so that we may share it with everyone. If you are a company representative, please send an e-mail from your company e-mail address so we can verify the offer. Please indicate if the military discount is an ongoing offer, or for a special event such as Memorial Day or Veteran’s Day (see our list of Veteran’s Day Discounts for specific offers).

Military Members File Taxes for Free!

Home Depot, Lowe’s, and other Retail Discounts

Guaranteed Low Prices…Now Even Lower

Education Benefits

You’ve earned your education benefits so use them and increase your earning power! Search GI Bill schools and other education opportunities.

VA Loan Information

A VA Loan is one of the best ways for a military veteran to afford a house. Be sure to get the right information before applying for your VA Loan!

Travel Discounts & Discounts on Flights

Try some of the following discounted travel outlets when making your next travel reservations:

Freebies and Sign up Bonuses

A little free money never hurt anyone! Try some of these discounts and freebies for a little extra spending money!

Check for updates!

Be sure to check back often! I will try to make new listings as new new deals become available. Be sure to spread the word. Your family members and squadron members will thank you!

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How Military Members Can Get Out of Cell Phone Contracts

If you are like me, you probably don’t like being stuck in a cell phone contract. Unfortunately, canceling your cell phone contract often comes with an early termination fee that can run as high as $200!

The good news is there are ways to get out of your contract without paying any fees. If you are a military member, there are a few extra clauses that allow you to cancel your cell phone contract without paying any early termination fees.

Cancel Your Cell Phone Contract When You PCS

how military members can break cell phone contracts

Need to get our of your cell phone contract?

One way to cancel your cell phone contract without early termination fees is when you PCS. You won’t be able to do this every time, but you should be able to cancel your contract if you PCS to a location where your current cell phone provider doesn’t have service, or if you PCS overseas. Be sure to show the cell phone provider a copy of your military ID card and a copy of your orders.

I’ve read about some cell phone providers trying to force military members to continue paying their contracts even when the PCS overseas, but you should insist that they allow you out of the contract.

Cancel Your Cell Phone Contract When You Deploy

Deployments are not always a guaranteed way to get out of your cell phone contract without paying early termination fees, but you may be able to do it. Be sure to take a copy of your military ID and orders with you, or you may be able to fax in a copy.

Your best bet to be able to cancel your contract is when your deployment is for longer than 6 months. If the cell phone provider will not cancel your contract for you, they will probably allow you to place your line on vacation status, which places your contract on hold until you return. You will be able to keep your phone number and will still remain on contract when you return from overseas.

Sell or Transfer Your Cell Phone Contract

If canceling your contract doesn’t work, you may be able to sell or transfer your cell phone contract and avoid early termination fees. You may be able to find a friend or relative willing to take over your contract. All you need to do is call the cell phone provider and do an assumption of liability transfer, which legally transfers your contract to another person – that way you won’t get stuck holding the bill.

If you need help finding someone interested in taking over your contract, you can try posting your phone on Craig’s List, or using a free service like Trade My Cellular, who will match you up with people around the US. You can also try Cell Swapper and Cell Trade USA which provide a similar service for a $20 fee, but seem to have more options.

Servicemembers Civil Relief Act

Another possible way out of your contract is through protections provided by the Servicemembers Civil Relief Act, which gives military members certain legal protections based on the military service. Please me be sure to read more about this act and the benefits it provides before taking action on it. The SCRA won’t apply to every situation.

You have enough to worry about when you serve our country. Hopefully your cell phone contract isn’t one of them.

Photo credit: thinkpanama

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Earn Extra Money with the GI Bill

One of the best benefits that many military veterans have is the GI Bill. Unfortunately, many veterans don’t take advantage of this benefit. There are many reasons people don’t take advantage of the GI Bill – not enough time to go to school, no desire for more education, or no need. But this is costing them a lot of money! Many people aren’t aware that they can make money by using the GI Bill!

How to Make Money with the GI Bill

The GI Bill pays veterans based on how many hours of classes they are taking, based on a prorated scale of full-time, ¾ time, ½ time, and ¼ time. (Rates for Active duty military members are capped at tuition costs). Check out the current MGIB rates for more info.

GI payments are intended to be used for school related costs, but there is no stipulation on how the money must be used. In fact, a check is written directly to the veteran to be used how and when the veteran wants to use it.

This means that is your tuition costs less than the full time GI Bill rates, you can keep the difference. This may be hard to find unless you are going to a Community College or State School. But there are other ways you can make money with the GI Bill.

If your tuition costs are covered, you can still receive the GI Bill

If your tuition is covered by an employer’s tuition assistance program or via a scholarship, you can still receive full GI Bill benefits! I have a friend who is currently taking advantage of this benefit and is earning over $1,300 per month while going to school. His employer is covering the cost of his tuition, and he is earning his full GI Bill benefits. This is money in his pocket! The same thing goes for scholarships. If you have a full-ride scholarship, the GI Bill is money in your pocket!

Note: Sometimes employers limit educational benefits to those who use the GI Bill. In this case, you would need to choose between employer tuition assistance and the GI Bill.

Search GI Bill Schools: You can use this tool to Search GI Bill Schools to help find available programs where you can use your GI Bill.

More GI Bill and Scholarship Information

Find more information about the GI Bill, and check out these GI Bill programs.

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