Law Makes Housing Affordable for Veterans

by Phoenix Homes Team
Oct
14

Realtor Magazine Online examines the newly expanded homeownership opportunities for veterans due to the Veterans' Benefits Improvement ACT of 2008.  President Bush signed this bill into law last Friday. 

"This [bill] will go a long way toward helping veterans buy and keep their homes," said Dick Gaylord, NAR president. 

The law will:

  1. Make it easier for veterans to refinance out of risky subprime loans into safer, more affordable homes;
  2. Make the VA loan limit increases permanent; and
  3. Allow the VA to offer adjustable-rate mortgages to veterans - making homeownership more affordable to veterans that have to move more frequently than their civilian counterparts.

Read full story at the Realtor Magazine Online

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