It was last year, a home owner died. We were less than thirty days from settlement. As tragic as that was, things got worse when the surviving military spouse learned that her income would be cut in half and that she could no longer use her husbands VA Loan. The reason his illness had not yet been documented  as a service related injury that led to his death and the VA Office needed more time...she was devastated. To say her world fell apart is an understatement. Worse,  the monthly income she had been receiving stopped. There was not enough proceeds from the sale of the home to survive for very long. She was under contract for the smaller home...now what?

She was now a surviving military spouse. No money coming in, stuck in limbo.Luckily for her a very nice investments counselor along with a loan officer stepped up to see how he could help. She was lucky the builder granted us more time to get her financial house in order, and luckily for her we just needed to change her to a conventional home loan and the investment counselor was able to set her up on a small lifetime annuity that would pay her monthly mortgage payment on the smaller home. Our office held a huge Estate Sale at her home and she netted a very good some of money from all her worldly belonging.  Thank God, because her VA Benefits didn't start arriving for months. I don't how in the world the military expects people to live without their monthly income. It is so unfair. However, like the old saying goes, you never know how strong a woman is until she is in hot water! 

What happened to this woman should not happen to anyone who scarified their entire life while their spouse severed in our military. But it did, and it does, and so many people are left with no way to access the benefits they have been promised. Well yesterday...a few things changed for military veterans and their families.

 

It's About Time

 

It's About Time!

Yesterday finally their was some "Good News for Veterans and Surviving Spouses" 

Some of the highlights of the new law:

  • VA LOAN LIMITS for high cost area's are going back up to $729,750 until December 31st,2014 ( currently the VA Loan Limit in Prince William County Virginia, Manassas and Manassas Park and Spotsylvania is $625,500.
  • Single Parents and Married Couples who are deployed can now have a  dependent child fulfill the occupancy requirement.
  • VA loan eligibility will now extend to spouses of veterans who lived at least the last decade of their lives with a permanent service-connected disability, regardless of whether it led to their death. (Bravo!)
  • ARMS and Hybrid Arms will still remain available going forward.

 

Read a full article here on the Zillow Blog

When it's time to buy a home here in the Prince William County Virginia and you need a good contact for getting pre-approved with your VA Eligibility. Simply contact Markita Aldridge Woods of WestStar Mortgage at MyMilitaryMortgage.com

 

 Other Resources:

Find out if you are eligible for a VA Loan

Office of Survivors Assistance

2012 VA Benefits Booklet

Proof I can help you buy a home VA ZERO DOWN

 

 

Peggy James REALTOR® Woodbridge Virginia

" You would want to hire me as your REALTOR®, if you're looking for a high energy, positive, take charge,knowledgeable person that is passionate about helping you get what you want! "

That's me! I'm easy going, and prefer to communicate by email, text and I use the latest technology to not only to stay in touch with you, but to market homes for sale as well and to negotiate.Still not sure I'm the right local professional for you? Check out my LakeRidgeVARealEstateNews blog or head on over to my LakeRidgeVAHomesForSale.com website to learn how I have others just like you sell or buy a home in the local area.

Read Success Stories Here 

To search for home currently Active Sale right now Start Here

The area's I service in Virginia are Lake Ridge, Woodbridge, Manassas. If you live outside these area's let's talk. If you have found my information helpful and you like what you see, chances are if I cannot help you, I know another REALTOR® who can. 

Tip: when reading any blog post, pay close attention to the date post was written as homes sell quickly. Call author for up to date information.     

Do you need help?  Have a question? Contact me now  

Note: This real estate blog is written by me Peggy James and it is is my opinion and may not reflect the opinion of Exit Choice Realty 14067 Crown Ct, Woodbridge Virginia 22193.

I have been blogging since 2008 and I am a full time REALTOR® .

Fair Housing Symbol

 

 
This post has been included in Virginia Real Estate News Prince William County, VA Real Estate News
Post is included in group: POSITIVE ATTITUDE for the Weary Soul
Post is included in group: Realtors®
Post is included in group: Virginia neighborhoods

8 Comments on VA Loan Eligibility Now Extend to Spouses Regardless Whether Death Was..

AUG
14
492,317 Points 10 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Good Evening Peggy:

This is great news.  I will definitely reblog this and publicize it in my market.  
9:35pm • #1
AUG
16

This is great news especially for those who's husbands are in the military service. Definitely, a breath of air for those who are troubled. Hopefully, there's none, but still, this is an ennormous help. I hope this is made possible not only in the state of Virginia, but in other states as well.
Xanjah
1:10am • #2

This is great news especially for those who's husbands are in the military service. Definitely, a breath of air for those who are troubled. Hopefully, there's none, but still, this is an ennormous help. I hope this is made possible not only in the state of Virginia, but in other states as well.
Xanjah
1:11am • #3

This is great news especially for those who's husbands are in the military service. Definitely, a breath of air for those who are troubled. Hopefully, there's none, but still, this is an ennormous help. I hope this is made possible not only in the state of Virginia, but in other states as well.
Xanjah
1:11am • #4

This is great news especially for those who's husbands are in the military service. Definitely, a breath of air for those who are troubled. Hopefully, there's none, but still, this is an ennormous help. I hope this is made possible not only in the state of Virginia, but in other states as well.
Xanjah
1:11am • #5

This is great news especially for those who's husbands are in the military service. Definitely, a breath of air for those who are troubled. Hopefully, there's none, but still, this is an ennormous help. I hope this is made possible not only in the state of Virginia, but in other states as well.
Xanjah
1:12am • #6

This is great news especially for those who's husbands are in the military service. Definitely, a breath of air for those who are troubled. Hopefully, there's none, but still, this is an ennormous help. I hope this is made possible not only in the state of Virginia, but in other states as well.
Xanjah
1:18am • #7

This is great news especially for those who's husbands are in the military service. Definitely, a breath of air for those who are troubled. Hopefully, there's none, but still, this is an ennormous help. I hope this is made possible not only in the state of Virginia, but in other states as well.
Xanjah
1:18am • #8


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Confindence%20trimmed-small Rainmaker_large

Peggy James

Peggy James Listing Agent in Woodbridge Virginia

Woodbridge, VA

More about me…

Exit Choice Realty

Address: 14067 Crown Ct, Woodbridge, VA, 22193

Office Phone: (703) 350-4990 x 104

Cell Phone: (703) 851-3085

Email Me

Lake Ridge Virginia Real Estate News Local real estate agent Peggy James of Exit Choice Realty blogs about current real estate market conditions, just listed, just sold, and shares tips and information for home buyers and sellers in Lake Ridge Virginia.

Lake Ridge VA Real Estate News- Peggy James a local Realtor® helps home buyers and sellers in the Woodbridge,Lake Ridge, Manassas, Dale City, and Quantico Virginia area's. Ask questions, learn about short sales, foreclosure homes,how to sell your home fast. Find active homes for sale, learn "what's happening" in the local Prince William County Virginia Real Estate market.

Let me know if I can help you with a real estate question call 703-851-3085.

View Peggy James-REALTOR® in a larger map
My homes for sale in Prince William






Have a question? Feel free to call me direct at 703-851-3085. " Have a Super Day!"



Listings

Links

Archives

RSS 2.0 Feed for this blog