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Mortgages

I’m a servicemember or veteran and currently have a conventional mortgage at an adjustable rate. Now that rates are low, I’d like to refinance to a lower fixed rate. Would I be eligible for a VA loan?

Yes, you may be eligible for a VA loan. Because of the Veterans’ Benefits Improvement Act of 2008, veterans who would like to refinance their existing non-VA mortgages into a VA loan may be eligible to do so for up ...

Mortgages

I am in the military or a veteran and I’m in the process of closing on my first VA home loan. My friends are telling me that I do not have to pay many of the closing costs associated with a typical closing. How do I know what I should pay and what I should not pay?

Closing paperwork can be very confusing, but the VA program does have greater restrictions on fees than many other mortgage loan programs. One day prior to the scheduled closing, make sure you request a HUD-1 Settlement Statement. Federal law requires ...

Debt Collection

I'm a servicemember and I'm being harassed by a debt collector about a debt that I do not think I owe. Should I just pay up to make the debt collector go away. What are my rights and where can I get help?

You have the same rights under the Fair Debt Collection Practices Act that civilians do. The Fair Debt Collection Practices Act (FDCPA) says debt collectors may not harass, oppress, or abuse you or any other people they contact. Some examples ...

Credit Cards

I have been on active duty and have returned home. I just learned that I could have gotten a reduction in the interest rate on my credit card while I was on active duty. Is it too late for me to get this reduction?

Under the law, you have up to 180 days after you are released from active duty to let a lender know that you were on active duty. You should write your credit card company and send a copy of your ...

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