Providing Veterans with the Keys to Homeownership

Inside Real Estate
Call The Home Lady!
(954) 579-6951
Follow My Blog
RSS
elainestevens
Elaine Stevens
Realtor

Direct: (954) 579-6951

Office: (954) 396-5900



Company Info

RE/MAX Partners
2 S. University Dr. #110
Plantation, Florida
(954) 396-5900


Real Estate Tools

Schoolsschools

Communitiescommunities

Calculatorscalculators

Neighborhood Info Links

Posts Tagged ‘Veterans’

One Year Anniversary of the Post-9/11 GI Bill – Press Release

Saturday, August 21st, 2010

Washington, DC—Senator Jim Webb (D-VA) today marked the one year anniversary of the implementation of the Post-9/11 GI Bill, which has offered more than a quarter of a million veterans and their families the opportunity to attend college or training programs.  After introducing the bill on his first day in office, Senator Webb successfully spearheaded the greatest expansion of veterans benefits in the past 25 years.  
Signed into law on June 30, 2008 and implemented one year ago, the bill offers returning service members up to 36 months of benefits including payment of tuition, room and board, fees and educational costs plus a $1,000 a month stipend while enrolled in full-time training.

 “The United States has never erred when it has made sustained new investments in higher education and job training – and its veterans,” said Webb. “I think we can all take pride in saying that we have been able to provide a proper investment in the future of those who, since 9/11, have given so much to this country.”  In the first year, more than 550,500 students have applied to receive their new benefits and more than 267,500 veterans are now attending classes on the Post-9/11 GI Bill.

 “Today marks the one year anniversary of the implementation of the Post-9/11 GI bill. I was privileged to introduce this landmark legislation on my first day in office.  The idea was to provide those who have served since 9/11 the most comprehensive educational benefits since World War II.  We did that. 

“We began with a simple concept—if we continue to call these men and women the next “Greatest Generation,” then we should as a nation express our appreciation in a proper way by giving them the same educational benefits as those who served during World War II. 
“We pay their tuition, buy their books, and given them a monthly stipend.  It was a formula that worked magnificently for those who served in WWII, and 7.8 million of those veterans—because of the GI Bill—were able to have a first-class future.

“We worked very hard in my office, at every level, pushing this legislation.  We eventually received the key cosponsorship of three initial senators: Senator John Warner of Virginia, my former senior senator; Senator Chuck Hagel of Nebraska; and Senator Frank Lautenberg of New Jersey.  We approached this in a way that employed balance. We had two WWII veterans, two Vietnam veterans, two Republicans, two Democrats.  We wanted to strip all the politics out of this issue.Read more about the Post 9/11 GI bill at http://www.gibill.va.gov.

“Along with my Democratic and Republican colleagues in Congress, leading veterans’ service organizations, the higher education community, and, quite frankly, despite the continued opposition of the previous administration, which for some reason opposed this legislation all the way to the day before they signed it, we were able to get this bill passed.

“I take pride in saying that two years ago today, the Post-9/11 GI Bill was signed into law.  And, one year to this day, the new GI Bill went into effect for those who have served our nation honorably during a time of war.

“As of today, I can report to this body that in this first year of implementation, more than 550,500 students have applied to receive their new benefits and more than 267,500 veterans are now attending classes on the Post-9/11 GI Bill.  That’s over a quarter of a million young men and women who otherwise might not have had the opportunity for a truly first class future.

“As one who grew up in the military, was privileged to serve, and who remains proud of the service of my son who served as a Marine and my son-in-law who have served as a Marine in Iraq and Afghanistan, and so many other friends, I understand what it means to be proper stewards for those who have given this type of service.  For those of us in Washington, that is our duty.

“This GI Bill, I think, shows a sense of responsibility and the desire of the leadership of this country to see those who serve really be able to move forward in their lives after their service and continue to provide great contributions to our country.

“But, this GI Bill represents more than just honoring and rewarding those who served.

“When I ran for office, I spoke of the need to reclaim a measure of economic fairness in this country.  Particularly in such dire economic times, the health of our country and society is measured by how the working people are  able to make it through the different barriers—and achieve great things alongside those people who have had greater advantages.  And, this bill does that today.

“Today, we are supporting hundreds of thousands of our veterans with a college education.  But, our reward is going to be 20 years from now when we can look around and see the successes that have been able to happen to people who are serving now because of this GI Bill.

“The United States has never erred when it has made sustained new investments in higher education and job training – and its veterans.  Educated veterans not only have an easier transition and readjustment experience, but they boast higher income levels, which in the long run increases tax revenues.

“Our country has benefited greatly from its tradition of offering educational assistance to returning veterans.  We should remember what the GI Bill did for those who served in World War II. Very few serrvicemembers thought they would be able to have a college education once they went to the military during those dark and troubled times.  The World War II GI Bill, much like the Post-9/11 GI Bill today, was an investment in our economy: for every dollar invested in the GI Bill for WWII veterans, seven dollars were generated. This is what we’re doing now.

“This is not simply an advantage for this country, it’s an obligation that we have.

“So, on this day, I would like to remember the contributions of those who came together to help us pass this legislation.  I would like thank the American Legion, the Veterans of Foreign Wars, the Iraq and Afghanistan Veterans of America, the Military Officers Association of America (MOAA), the American Council on Education, and the National Association of Independent Colleges and Universities, among many others—and the nearly 60 U.S. Senators and over 300 U.S. Representatives signed on as cosponsors to this landmark effort to reward our veterans for their honorable service.  

“I think we can all take pride in saying that we have been able to provide a proper investment in the future of those who, since 9/11, have given so much to this country.”

For more information about the Post 9/11 GI Bill, go to http://www.gibill.va.gov.

 

 

Federal Government Launches New and Improved National Resource Directory for Military and Veteran Communities

Wednesday, August 18th, 2010

Comprehensive Web site provides quick and easy access to thousands of resources nationwide

 Washington, DC – The U.S. Departments of Defense, Labor and Veterans Affairs, as part of their continued commitment to our Nation’s Service Members, Veterans, and their families, launched  a new and improved National Resource Directory (www.nationalresourcedirectory.gov).

 This free online tool provides access to thousands of services, programs and resources at the national, state and community level.  The Web site has a fresh look with many key features that include an improved search engine, Really Simple Syndication (RSS) news feeds, subscriptions to e-mail updates, and new subject areas such as “Homeless Assistance.”

 The National Resource Directory is designed to serve a broad base of users including transitioning Service Members, Veterans, Wounded Warriors, and their families and caregivers.  In addition, it is a useful tool for service providers who support Veterans and Service Members, such as Department of Defense Recovery Care Coordinators and AW2 Advocates, Veterans Affairs Federal Recovery Coordinators, health care providers and case managers at Veterans Service Organizations.

“The National Resource Directory is wonderful,” says Cara Hammer, an Army Veteran who served in support of Operation Iraqi Freedom.  “I’ve been using it pretty regularly.  It is very comprehensive and fool proof – I love it.”

The new features allow the Military and Veteran community to identify and stay informed about the thousands of resources that are available to them as well as browse for information they may not have known about in the past. Additionally, a faster, more accurate search engine provides the tools to sort results by subject area, audience and government or non-government resources to ensure users locate exactly what they want, without having to sort through thousands of links themselves.

For more than a year, the National Resource Directory has provided Wounded Warriors, transitioning Service Members and Veterans, and those who support them with quick and easy access to resources they need.  Resources on the National Resource Directory are vetted and must meet the participation policy standards before being added.  This ensures that all the posted resources are relevant and from reputable sources.

The new National Resource Directory is simple, easy-to-navigate and even more relevant to the needs of the Wounded Warrior, Veteran and caregiver communities.  It also contains “In the News” and “Spotlight” features to highlight important news and updates. To tell friends and family about the new National Resource Directory, use the “Bookmark and Share” function to post updates on more than 200 social media networks such as Facebook or Twitter.

To learn more about the National Resource Directory’s new features, and to explore the thousands of resources provided, visit the Web site at www.nationalresourcedirectory.gov.

Surviving Spouses of Veterans in Ft.Lauderdale Are Able to Buy A Home

Tuesday, August 3rd, 2010

The loss of a loved one is hard. You find yourself alone even if you have children and want to move on with your life but don’t know how. Your husband enlisted and it seems so did you. You may feel like you are experiencing the post-traumatic stress of combat, grief and desolation.

I won’t tell you I know how you feel because I don’t. I will say that I have had some dark times in my life when my faith in God was challenged by horrific circumstances. But I am here to tell you that healing happens. By grace, the resiliency of the human spirit begins to soar again and we can use our woundedness to help others come out of the darkness into the light.

If you are a surviving spouse of a combat veteran, the VA provides benefits for you and your children.  The Ft. Lauderdale area is home to one of the finest comprehensive outpatient medical facilities in the country, located at 9800 Commercial  Blvd. The VA Outpatient Clinic opened in September 2008, and provides Civilian Health and Medical Program of the Department of Veterans Affairs (CHAMPVA), and TRICARE (the medical program for civilian dependents provided by DoD).

Additionally, you can apply for a Certificate of Eligibility (COE) and receive your spouse’s benefit for 100% financing guaranteed by the US Govt.  There are stipulations that apply:

  • The death must have occurred while in combat.
  • If after being in the service, the death has to be due to a service-connected disability.
  • The widow or widower must not be remarried.
  • Only the spouse can use the benefit, not adult children or other family members.
  • The surviving spouse can be of a serviceperson missing in action or a prisoner of war.
  • A surviving spouse who remarries on or after attaining age 57 and/or after December 16, 2003, may be eligible for the home loan benefits.  (Special criteria for applications apply).

The surviving spouse still must meet satisfactory income and credit guidelines for the VA approved lender to underwrite the loan but I think this is a terrific light at the end of the tunnel. Prices on homes have dropped considerably over the past two years and now more than ever this NO-NO loan benefit could be the opportunity to establish homeownership and own an appreciating asset that could be a roof over your head for years to come.

VA does not have a prepayment penalty. Therefore, if you want to accelerate the payments so that at retirement you have no mortgage, you are more than able to do that under VA guidelines.

Very few people are able to purchase with 100% financing guaranteed by the government, so if you are a surviving spouse living in Sunny Florida I recommend you take advantage of this benefit provided for you as a form of appreciation for the service rendered by your loved one.

Any surviving spouse should look thoroughly into all the possible help provided by the VA including monthly payments, lump sum payments, educational payments and job retraining assistance.

Ft. Lauderdale is an ideal place to be located to start one’s life again and create new beginnings.  I’m The Home Lady and care about surviving spouses and their children, and I want you to know you can make a good life with all the support provided by and for the Veteran community in Ft. Lauderdale.

Female Coast Guard Veteran Becomes a Landlord in Ft. Lauderdale with the VA No-No Loan

Monday, August 2nd, 2010

Ms. Rita works for the Coast Guard in South Florida but is an honorably discharged Veteran who used her 100% VA Home Loan to purchase her second home.  The first time she used her No-No Loan was when she was married.

The home was sold in the divorce and the loan was paid off.  Years later and now a grandmother, she was ready to start again.

Ms. Rita came to me and wanted an income property that she could get a little help in later years when she retires from the Coast Guard.  We found a great home with a building in the back of the main house that had been converted into a studio apartment.

The house was great but full of drama!

The house was in a short sale and the owner had moved to Central Florida.  The owner’s son and his family were staying in the home and were not paying any expenses.  The owner and her husband signed the contract for Ms. Rita to buy the house and now the family had to be relocated.   The son panicked and refused to cooperate.

It took all my experience, knowledge and understanding to get him to go along with the program.  Slowly, we were able to help him see the reality of his situation and little by little he started packing.

Meanwhile, the house inspection revealed the house had termites, the 50 year old tile roof no longer had any life left and water damage had created wood rot around the door jams.  Normally, a bank will not fix anything in a short sale because they are already getting less money back than the seller owes them.

However, the bank agreed to pay for a whole new roof, paid to have the house tented and to repair the wood rot caused by the water damage.   We were able to close in time for Ms. Rita to receive the $8,000 tax credit.  Ms. Rita was able to buy hurricane shutters so when she goes up North to visit her family during her summer vacation, she can close the house up with her accordion shutters and not worry about storms damaging her windows and flooding her home.

Now Ms.Rita is working on helping her father, a Korean War Veteran, purchase a home using his No-No Loan in sunny Ft. Lauderdale.   Being a good mother and grandmother, she is also helping her daughter purchase a home using FHA financing.

Ms. Rita has experienced a lot of challenges in her life but she did not let that keep her from finding the internal fortitude to be strong for herself and her family.  She purchased a home of her own in Ft. Lauderdale as a single, divorced female Veteran using her No-No VA Home Loan benefit.

Veteran women need to know they are able to launch out and that Uncle Sam has provided this benefit for their dedicated service to our country: 100% financing guaranteed by the government. Ms. Rita received her $500 dollar earnest money deposit back at the closing and the seller, who was the bank in this case, paid all the closing costs.  The No-No Loan helped Ms. Rita become a landlord in sunny Ft. Lauderdale.

No-No Loan Pays Veteran to Own!

Wednesday, July 28th, 2010

Believe it or not, an army veteran and his wife closed on a home of their own and the No-No Loan paid them at the closing on Friday, July 3, 2010!  Talk about 4th of July fireworks!  They lit up with joy, elation, wonderment and gratitude for realizing a dream come true.

Army Veteran White got his $500 dollar deposit back at closing.  He received his $350 inspection fee back.  He received a credit back to his credit card for the appraisal fee of $450.  All his closing costs were paid by the lender and the seller. The net result is that he bought his 3 bedroom/2 bath/1 car garage home for $0 dollars – no down payment and no closing costs.  This is the power of the No-No Loan, the 100% VA-guaranteed Home Loan.

The bank paid Veteran White 50% of the cost of a 16 Seer brand new air conditioner and compressor.  He was also able to take advantage of the 30% federal tax credit for purchasing a high energy efficient air conditioner.  I arranged 0% financing for the remaining 50% from the air conditioning company for 9 months.  In 9 months, Veteran White will file his taxes and get back $1,050 in a federal energy tax credit plus the mortgage interest and property tax refund which will more than pay for his 50% portion of the air conditioner.

We also got the bank to pay for the whole house to be tented for termites and to repair and replace some missing shingles on the roof.  The house was a foreclosure and we were told that Veteran White had to take the property AS-IS.  The bank didn’t know that Veteran White answers to a higher authority who he and his wife believe created a miracle for them!

Mrs. White had gotten tired of looking. She had begun to get discouraged as contract after contract was turned down by the banks who wanted the cash offered by investor buyers.  April 30th came and went and they were unable to take advantage of the $8,000 tax refund for first time buyers.

I reminded them that better than the $8,000 tax credit, they had the No-No Loan that never expires.  Imagine how many veterans could buy a home in Ft Lauderdale up to $417,000 using the No-No Loan!  Florida has over 1.7 million veterans, and has the second largest populaton of veterans in the entire country, yet thousands of veterans are not using their No-No Loan in Ft. Lauderdale.

Live in the Sunshine State and own a home with 100% financing to which only honorably discharged veterans are entitled.  When the whole country is crying the blues about the bad economy, Veterans can purchase a home with a No-No Loan in Ft. Lauderdale!

Veterans are able to buy even without a job.   They are able to use their 100% service-connected disability income to purchase their home with the No-No Loan in Ft. Lauderdale.  If they are married, they can use the salary of their spouse as well to qualify, the same way Veteran White and his wife qualified, even though his hours had been cut back at work.

The No-No Loan is the best kept secret in America today. Tell every veteran you know to contact “The Home Lady©” so they, too, can own a piece of the rock!  Veterans have earned this precious benefit, and now is the time to use it while interest rates are the lowest they have been in decades.  Join me on my mission to get hundreds of Veterans in a Home for the Holidays!

Veterans: Always Use a Direct VA Lender when buying a home in Ft. Lauderdale!

Tuesday, June 1st, 2010

The Home Lady has a VA Home Loan direct lender on her One-Stop Shopping Team in Greater Ft. Lauderdale.  Kim Prat, of Suntrust Mortgage, has 17 years of experience in mortgage financing and she specializes in government loans.

The Veterans Administration does not lend money for mortgages.    Qualified lenders provide 100% financing to Veterans and the VA guarantee helps protect lenders from loss if the borrower fails to repay the loan.   You need a  COE (Certificate of Eligibility) to get a VA-backed loan.  If you do not have a COE or can’t find your original, Kim Prat with Suntrust Mortgage can order one online for you with your DD214 discharge papers or active duty documentation.   Many veterans have seen this green form with $36,000 on the front and have discarded the COE because they felt they could never buy a house in their area for that money.   The $36,000 dollar amount is used by the lender as part of their formula to determine your eligibility.   If you have used your COE before to purchase another home, you can use your COE again and get 100% financing as long as the previous home mortgage was paid off.

Although your mortgage limit is $417,000 in the Ft. Lauderdale area and in the state of Florida, the lender stills qualifies you based on your income.  Your income can include:  salary, pension, disability payments and social security.   Your spouse’s income can also be included.

I have had several couples go to the justice of the peace and get married in a civil ceremony so that they would be legally married and be in compliance with VA regulations.  They wait for the big church wedding and reception and they don’t tell the world what they have done until they are ready, but they have met VA’s requirements.  Owning a home could be one of the best wedding presents you could get to start your new life together.   If you intend to get married anyway and you know you have a solid relationship, then using both incomes may help with qualifying for your VA loan.  If both partners are veterans, only one VA COE will be used.

Remember: in order to use your VA home loan, you must owner-occupy the property.  If you buy a 2-4 unit property, you must live in one of the units to use your VA home loan.  Owning a 2-4 unit property is a great way to get started now that prices have come down considerably in the Ft. Lauderdale area.

Veterans, you are the only people in the country that the United States Government provides 100% financing.  On this Memorial Day Weekend, we want to say Thanks for Serving our country and give us a chance to give back to you.

Veterans Use “NO-NO LOAN” to Buy Homes in Fort Lauderdale Area

Sunday, May 23rd, 2010

Sea, sun, sand and 100% financing make Greater Ft. Lauderdale a paradise for veterans. Our military men and women from the Vietnam era to the returning OEF and OIF veterans are able to buy a home up to $417,000 in Ft. Lauderdale.

The Home Lady Team helps veterans purchase homes with NO money down and NO closing costs.  The “NO-NO Loan” is only available to veterans who have given honorable service to their country.

What a wonderful benefit!  What a wonderful way for the government of the United States to say “Thank You!”

Ft. Lauderdale Veterans Buy Homes Using One-Stop System

Wednesday, May 19th, 2010

Imagine you are a Veteran looking to buy your first home or move up to a bigger home in the Ft. Lauderdale area. My Home Lady Team is determined to help make your dream of homeownership a reality with as little stress as possible.

Veterans will work with my team of experts that know what the VA requires in order to purchase a home – whether it be a home, condo, duplex, triplex or quadplex in the Ft. Lauderdale area.

Qualified Veterans can purchase a home for up to $417,000 in Ft. Lauderdale.  Give The Home Lady a call and let our Team help make your dream a reality!

The Home Lady Helps Veterans Own Homes in Fort Lauderdale

Tuesday, May 18th, 2010

Veterans are successfully becoming homeowners in Fort Lauderdale, Florida.  As the Home Lady, I am 100% committed to helping Veterans take advantage of their VA home loan.

For 17 years, I have always provided a one-stop shopping approach for my veteran clients.  My team includes myself as the Realtor, the Lender, the Credit Counselor, The Home Inspector, the Insurance Company and the Closing Agent.  The entire team is dedicated to veterans becoming successful homeowners.

I am a member of the Broward County Veteran’s Council, and have worked closely with VFW Post 8195.  I have also worked with PWVA – Professional Women Veterans Association – presenting Veteran Homebuying Bootcamps and Expos.

Call or email The Home Lady to find out more about what our team can do for you.

Market Recap

  • Avg. Sales Price: 379,000

  • Avg. Days on Market: 69

Free Market Alerts

Get local reports delivered to you

 
Recently Asked Questions
    market alert newsletter

    Get free market reports delivered to you. » Sign up today

    - Copyright © 2010 Inside Real Estate, LLC

    Inside Real Estate does not endorse the agents on this site, and does not guarantee the content submitted by the site's members. Blog and page entries, content, and other information contributed by agents that are members of the site are accountable to the particular agent. Inside Real Estate and Omnia Alliance LLC take no accountability for the content contributed by members to the site.