Reduced VA Funding Fees Now in Jeopardy? UNBELIEVABLE!
VA loans are important to buyers and sellers in the greater Wilmington, NC & Jacksonville, NC area!
We’re making sure you have the latest regarding implementation of the reduced VA funding fee!
This helpful post is worth sharing with you!
Compliments of Beverly Femia - Coastal Area Living in Hampstead, NC 910-279-9794 www.CoastalAreaLiving.com
Via - Louise Thaxton #6 in Nation for VA Loans 866-960-9115 VA FHA USDA Louisiana Loans
Unbelievable.......
Last week I wrote a post celebrating the lower VA funding fee going into effect for VA loans closed on or after October 1, 2011. Sadly, it appears that at least for now, the lower VA funding fee is in jeopardy. The following announcement, listed as "Important News" dated October 1, 2011, and posted on the the Department of Veterans Affairs website:
"LOANS CLOSED ON OR AFTER OCTOBER 1, 2011: Due to legislation affecting funding fees that has passed both houses of Congress and is awaiting the President's signature, lenders should not submit payments for loans closed on or after October 1, 2011, until further notice. This issue should be resolved within the next several days. If the President signs the legislation, it will in effect keep funding fees at their FY2011 rates through November 17, 2011. This means the changes set to take effect per Circular 26-11-12, might only be in effect for a very short time."For cases where lenders have closed loans with lower funding fees than provided in the new bill, the Secretary, under existing authority, will waive the difference in the fees. PLEASE monitor this page for updates. We will pass on information as soon as we get it and also release a circular if and when the bill is signed".
If and when?
If and when?
If and when?
Unbelievable......
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Louise G. Thaxton NMLS #69996, VA Home Loan Expert
#6 in Nation for VA Loans
Fairway Independent Mortgage Corp NMLS #2289
Phone: 866-960-9115 Email: lgthaxton@fairwaymc.com
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