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The Department of Veterans Affairs has announced it has guaranteed 20 million home loans since its home loan program was established in 1944 as part of the original GI Bill of Rights for returning World War ll veterans. The 20,000,000th loan was guaranteed for a home in Woodbridge, Va., purchased by the surviving spouse of an Iraq War veteran who passed in 2010.
Given the current low interest rates, the program has grown significantly in the past five years, with 71 percent more purchases and 20 times as many refinances processed in fiscal year 2012 than in FY 2007. Currently, there are 1.7 million VA guaranteed home loans in existence with a total value of $284 billion. The VA has guaranteed 540,000 mortgages in 2012.
The 20,000,000th VA home loan is a major milestone and is a testament to the VA’s commitment to support and enhance the lives of veterans, service members, their families and survivors. As a result of their military service and sacrifice, as a group, military personnel prove to be disciplined, reliable, and honorable, the traits that are ideal for this kind of national investment.
The program makes home ownership more affordable for eligible veterans, service members and surviving spouses by providing access to lower cost financing. The 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 the VA 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 the VA’s home loan program stems from the efforts of VA employees and its industry partners nationwide, to ensure veterans receive every possible opportunity to remain in their homes and avoid foreclosure. Since 2009, the VA’s efforts have resulted in more than $8 billion in savings to taxpayers in foreclosure avoidance.
Veterans may obtain a certificate of eligibility for a VA guaranteed home loan through the joint Department of Defense, VA web portal eBenfits, at www.ebenefits.va.gov. To obtain information about the VA Home Loan Program, visit the program’s home page at www.benefits.va.gov/homeloans.
November is Diabetes Awareness Month. For many veterans, especially Vietnam veterans, the onset of diabetes is very prevalent because of the exposure to Agent Orange. The exposure to herbicides during military services in other areas is also significant.
For information regarding signs and symptoms, risk factors, prevention and benefits, go to www.diabetesmilitaryveterans.gov.
Veterans Day is next Sunday, Nov. 11.
Acknowledge our veterans when you see them by thanking them for their service.
Remember to vote — you can make a difference.
Speak to you again next week .
Reach Jim Vines at jim.helpingveterans@gmail.com.
Viewpoints
COLUMN: Veteran's Corner
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Guest opinion: Campaign with honor
All politics is local and personal! I hope that you and your family have a wonderful summer, filled with relationship building experiences and times of relaxation. As you do all the things that re-charge us for the next round at work and involvement in community and political activities, let’s reflect on the 2013 local elections for a moment.
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TISCIONE: Woe for calling evil good
You don’t often see “woe” used in an article. It’s a word that has fallen out of usage in our day. But it’s a word that ought to be understood and taken seriously.
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Letters to the Editor – May 17, 2013
As mercury pollution threatens our waterways and carbon pollution-fueled climate change worsens extreme weather, we need someone in Washington who knows how to get things done.
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Letters to the Editor – May 15, 2013
I just wanted to express my heartfelt thanks to the slobs, idiots and inconsiderate people who continually decorate the beautiful Texas landscape with their trash. I guess it’s really a form of art with beer bottles and cans, boxes, plastic drink containers, food packaging and just about anything else you can think of. It just doesn’t appeal to me. Thank you.
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NOW HEAR THIS: Not by the hairs of my chinny chin chin
I had never really considered this possibility, but every one of the Three Little Pigs was almost certainly a guy. I know that assumption is not particularly popular from an equal opportunity standpoint, but the fact is fairly certain. How do I know? They all three had hair on their chinny chin chins.
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ESTES: Securing a bright future for Texas
Texas businesses have created more than 500,000 jobs since November 2011. Our economy is growing nearly 50 percent faster than the rest of the country and our cost of living remains low.
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TISCIONE: ‘It’s not about me’
“It is good to give thanks to the LORD, to sing praises to your name, O Most High; to declare your steadfast love in the morning and your faithfulness by night.”
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NOTES FROM THE JOURNEY: A Mother’s Day memory
A sight that always catches my eye when we’re out to eat is a mother and her young son eating alone. Carole sometimes has to touch my arm to regain my attention. Discretely, I observe the interaction between them and wonder what their story is.
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Letters to the Editor – May 10, 2013
Parker County Health Foundation would like to thank the lady who visited our office last week and made a donation to the Foundation. Although your name is unknown, your kindness is greatly appreciated.
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Letters to the Editor – May 8, 2013
As a lifelong resident of Weatherford, I attended our public schools as did my wife, son, daughter and granddaughters. I have been in business here for many years and paid my school taxes without complaint. However, I do plan to vote no on the upcoming WISD bond election for the following reasons:
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