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What military benefits? If you are discharged early, even for a military related injury or through something else that is no fault of your own, they won't give you anything. I spent ten years just to be able to get them to pay for my medical care (after I had already gone into the worst sort of debt imaginable paying it all out of pocket) and that just happened to come with monthly disability payments. Other than that, I got nothing. Joining was the worst decision of my life. Any time I hear of a young person wanting to join the military, I campaign hard for them to reconsider.
Growing up just about all of the neighbors used their VA benefits to buy their homes... my Dad was only in the Navy a few short years and earned the right to a VA loan...
In many cities of the South and the Midwest outside of the large cities, owning a home while part of the working class is still possible. Anyone here low income and still living the dream of home ownership? Tell us your story!
I used my GI Bill to buy a home I could afford at low interest. I bought when the market was on my side, and I bought a home that I knew I could make the payments on, even if the only job I had was 10 bucks an hour.
The strategy worked well. And my home is worth almost 3x what i paid for it.
Growing up just about all of the neighbors used their VA benefits to buy their homes... my Dad was only in the Navy a few short years and earned the right to a VA loan...
Good for you. Doesn't work for everyone. I have been denied four times the right to use a VA loan.
Your a truly unique individual. Most people can only dream of owning two homes outright and saving enough money to outlive them with SS and pension to boot. Great accomplishments. Your a true outlier from the majority of folks who can't chew gum and hold a job at the same time.
Let me guess. You never had children or a mate. That's the only way I can see one person accomplishing these things in life.
Skipped the mate and kids thing. It never interested me, despite all the pressure you could imagine to do so. I just ignored them. Not my thing.
Stashing money away starting in my 20's is what really made the difference. I was never interested in fancy cars or a 2700 sq ft big box McMansion. For who? Nobody gives a flick what you drive, and a 1500 sq ft house, thoughtfully planned and done tasteful will impress you and anybody else.
I ate my canned peaches out of glass DelMonte jars, ate steaks whenever I wanted to, and still today, confine my dollar store trips to things like candles, canned tomatoes, and Fabuloso.
I was taught early on you pay that plastic off every month - no exceptions! Otherwise you're living beyond your means. And you'll pay the price one day. And you will. Just talk to my neighbors in my 55 plus neighborhood. It's depressing. But, then again, I didn't force them to live high on the hog all those years. "Don't blame me" is my thought.
You can be married and have kids and accomplish this. But skip that divorce thing, and, oh...keep your pants zipped up until you're ready (financially) to go there. And be prepared to sweat. Nothing comes for free.
Good for you. Doesn't work for everyone. I have been denied four times the right to use a VA loan.
The "right"?
From my admittedly limited understanding, only a dishonorable discharge can prevent you from using your loan. If that is the case for you, I don't understand the bitterness displayed in this thread.
Mom is on Social Security and needed a furnace... Utility Red Tagged it.
She got 3 estimates and the least expensive was $5400 and the highest $5800... she want a high efficiency unit.
Told her if she could wait 10 days I would do it for her...
I bought the same exact furnace in two of the quotes for $1200 delivered... spent another $150 at a sheet metal shop to make a transition...
Her new furnace cost her a total of $1400 and she also got a damn fine installation... the inspector even commented on this...
Point is some people should not own homes if they are on a fixed budget and pay retail...
Mom saved $4000 and it took me a day and half to do the job!
Great that you could help your mom. My mother had a similar problem about 15 yrs ago. i purchased her a new furnace valued at $1200.00 at a freight sale for $129.00 Brother had the plenum made and we installed it.
two years later it wouldn't come on and she called a furnace guy. He told her it was rusted out and she needed a new furnace. We called another furnace guy and he said it was no way rusted out and the only thing he could see wrong was the GAS VALVE was missing. Furnace guy #1 denied removing/stealing it.
From my admittedly limited understanding, only a dishonorable discharge can prevent you from using your loan. If that is the case for you, I don't understand the bitterness displayed in this thread.
Yes, the right. You can't apply for a VA loan without a certificate of eligibility. The COE proves you have the right to apply for a VA loan.
I'm sure dishonorable discharges have their own problems, but those are obviously issues they brought upong themselves (with some exceptions). What prevents people from using a VA loan is if they weren't in for a certain amount of time. My discharge was honorable, I am 100% service connected disabled, total and permanent. Just so happens that I wasn't in for the magical amount of time before I was discharged through no fault of my own. Can you now understand the bitterness?
I bought my first home via a program run by the city I lived in. They designated certain neighborhoods for rehabilitation. A local bank participated and wrote mortgages to people who had lower-than-usual income and only a 5% down-payment was required. The main caveat was that the mortgage holder had to LIVE in the house as long as they held the mortgage. That prevented rental property investors and flippers from buying up the houses.
Those programs are popular because first-time homebuyers who make a commitment to living in a house usually improve it. It keeps neighborhoods from becoming run-down areas for transients. These neighborhoods are usually in urban areas, however, so you aren't going to get a suburban place with a big yard, a garage, and in a top school district. It's a good deal, though, especially for young people willing to do some work on an older home. I lived in my place for 13 years, significantly improved it, and eventually sold it for a $45,000 profit. I used that as a cash down-payment on another house.
Yes, the right. You can't apply for a VA loan without a certificate of eligibility. The COE proves you have the right to apply for a VA loan.
I'm sure dishonorable discharges have their own problems, but those are obviously issues they brought upong themselves (with some exceptions). What prevents people from using a VA loan is if they weren't in for a certain amount of time. My discharge was honorable, I am 100% service connected disabled, total and permanent. Just so happens that I wasn't in for the magical amount of time before I was discharged through no fault of my own. Can you now understand the bitterness?
No, but I see where you are coming from.
I forgot about the (short) amount that you have to serve. I think it's 181 days or something like that.
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