VA Home Loan Program Guarantees its 20 Millionth Home Loan

The Department of Veterans Affairs (VA) recently announced in an October 26th, 2012 press release that its Home Loan Program has issued its 20 millionth home loan.

Military families have benefited from services such as these since 1944 when the original GI Bill of Rights became law. According to the VA, the milestone home loan was used to guarantee a home in Woodbridge, Virginia to benefit the family of an Iraq War veteran who passed away in 2010.

The VA home loan program currently supports 1.7 million guaranteed VA home loans, valued at $284 billion. In 2012 alone, the VA has guaranteed 540,000 mortgages, and the growth of the program in the past five years has seen a 71 percent increase in purchases.

Aside from issuing new mortgages, the VA home loan program also strives to help military families with existing mortgages avoid foreclosure. Since 2007, there have been 20 times more refinances successfully completed through the program.

VA home loans are one of the many measures being taken to benefit veterans. Disabled veterans who require accessible homes may find assistance through the VA as well as private and community organizations. These organizations work to provide specially adapted housing for disabled veterans who are amputees or have difficulty with mobility in the home.

If you are a disabled veteran who has been denied disability compensation or have not yet applied for benefits from the VA, a South Florida disability attorney from Veterans Help Group is ready to help. To learn if you are entitled to certain programs and benefits contact our veteran’s disability rights firm today 1-855-855-8992.