I encourage you to head over to YouServed.com and check out this story HERE. It was put up by a veteran that works for VAMC about some new legislation that is being discussed right now on Capitol Hill.
The huge Financial Services bill currently in the Senate aims to boost consumer protection and bring more openness and accountability to the mortgage industry. But in its current form, after a last-minute amendment from Sen. Jeff Merkley (D-Oregon), the bill will ultimately hurt military families and deal a serious blow to their access to home lending.
Why does it always seem to be the amendments that cause the problems? The last thing Veterans need is to make it harder or more expensive to buy a home. Especially since it was not Veterans that caused the housing problem in this country that has led to these changes.
These new layers would likely end up breaking a program that doesn’t need fixing. Piling on needless guidelines will likely trigger at least two major problems for military families:
- Lending costs will rise because stricter underwriting will take up more time and resources. Veterans will pay more to exercise their VA entitlement, which was created to help make homeownership accessible to this deserving demographic.
- Some veterans who would have normally been cleared for a VA loan may now wind up unable to get one.
So please go over there and read the whole story. Then if you feel led to do something about this, contact your representative ASAP and let them know how you feel.




