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I have been trying to find out why the VA doesn’t have a loan program that would assist a 100% P/T veteran in eliminating debt. Since most of us get into debt because we can’t hold a job because of our disabilities, it would be nice if the VA started a program that would assist us. It’s crazy that they have a home loan program, a loan guarantee department, and a debt management center, but won’t do anything to guarantee that the veterans have the proper FICO score to utilize the program. I think something should be done for all veterans to make sure they can get into a permanent housing situation, but at least with the 100% P/T veterans they know that they can get the loan payment back because they can just garnish a portion of their monthly payments.
While I was in school under the chapter 31 program, my counselor was able to submit a request for me to have a portion of my monthly disability payment advanced to me, because of financial hardship, and then it was repaid by them reducing my monthly payments by a few dollars until it was paid back. I think this program should be extended to the rest of the veterans and at least the permanent and totally disabled veterans so that they can eliminate their debt, increase their FICO scores and finally purchase a permanent home. Another idea would be to get rid of the FICO score requirement altogether, for veterans. Since the loans are guaranteed by the federal government , the bank doesn’t stand to loose any money in the first place. Besides I know a lot of people that have bad credit, but always pay their rent. No matter how tight money gets the only way we don’t pay where we lay, is when we just don’t have the money.
Don’t get me wrong, I appreciate all of the benefits afforded me because I served my country, but the benefits that would mean the most would be having a permanent roof over my head and debt relief. The best benefit would be a law stating that all veterans are tax and interest exempt.
CAN ANYONE HELP WITH THIS?
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I have been trying to find out why the VA doesnt have a loan program that would assist a 100% P/T veteran in eliminating debt. Since most of us get into debt because we cant hold a job because of our disabilities, it would be nice if the VA started a program that would assist us.