Bruce Reichstein's (brucereichstein) Blog

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ARCHIVED BLOG POSTS

2012 

In October 2012, the Department of Veterans Affairs held it’s second-ever Twiter Town Hall Metting, covering topics about VA home loans including this question from a Twitter user: “I just bought a house over a year ago. 4.25% rate. Would it be practical to refinance to lower rate?” We get the sa...
10/30/2012
In a recent online “town hall meeting” conducted via Twitter, the Department of Veterans Affairs answered reader questions about VA home loans across a variety of topics. One that came up was a question about VA loan credit scores. One Twitter subscriber asked the VA moderator if a credit score o...
10/29/2012
A reader asks, “My husband and I are in process of a VA refinance. The company we used came from a flyer in the mail promoting VA refi…but I don’t think they know whats going on. They tried adding 6 thousand dollars of extra charges. I informed them of fees we’re not responsible for." "Today the ...
10/29/2012
With Hurricane Sandy dominating news headlines over the weekend of October 26-28, 2012, it seemed like a good idea to discuss the official VA advice for homeowners and VA loan applicants who are dealing with a natural disaster. According to the VA official site, “If you have a VA loan and your ho...
10/28/2012
A reader asks, “We are selling a house and we had not put on the light switch plates yet as we just repainted.  As well, he said he wants smoke alarms in each bedroom? We have 2 story Condo and a combo smoke/carbon monoxide detector in upstairs hall and downstairs hall- these things are $50 each ...
10/25/2012
A reader asks, “I would like to use my VA Loan to purchase a duplex. My wife and I plan on living in one of the units and renting out the other side. Can we do that with a VA loan?” This is an excellent question, and most readers will be happy with the answer. VA loan rules do permit a borrower t...
10/25/2012
When an eligible VA borrower fills out an application for a VA home loan, employment and income are two important areas they are required to submit information to be verified by the borrower. The participating VA lender is instructed by the Department of Veterans Affairs to verify both employment...
10/23/2012
The Department of Veterans Affairs carefully spells out a set of requirements for homes to be purchased with VA guaranteed home loans. In recent years, due to housing market problems and other concerns, some lenders have chosen not to offer VA loans on each and every eligible type of property; so...
10/22/2012
A recent New York Times article titled, “V.A. Loans Surge in Fiscal Year” points to greater interest in VA loans, which “surged by 50 percent in the fiscal year ended Sept. 30, as tighter credit standards on conventional financing made these programs all the more attractive to current and former ...
10/22/2012
A reader asks, “I know VA loans can finance up to 30 years. Is there any way to raise the length of the lending time to 32 years?” The VA Lender’s Handbook, Chapter Three, has the rules which govern this area. According to the Department of Veterans Affairs, the maximum length of time a loan can ...
10/21/2012
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