Death in the family, illness, loss of a job, or divorce can take a great toll on our daily lives and finances. If tragedy strikes and you are unable to afford your monthly mortgage payments and find yourself falling behind, you may be able to modify your home loan to catch up and avoid foreclosure.
Why Mortgage Companies Should be Veteran Friendly
Is your mortgage company veteran friendly? Veterans have unique needs and requirements than civilians, so your mortgage company needs to be able accommodate them respectfully and efficiently. Here’s why you company should be veteran friendly:
Veterans Have Different Needs
Unlike civilian home buyers, veterans tend to have different and more unique needs. For example, the VA has minimum property requirements (MPR’s) that veterans must meet when looking for a home in order to be eligible for a VA loan. A veteran friendly mortgage company will recognize this need and work with veterans to find a home that meets these requirements.
Veterans Choose VA Approved Lenders
Veterans are advised to opt for a mortgage company who is VA approved since they are very familiar with the VA program. These mortgage companies can easily answer any questions a veteran may have regarding the VA loan program, and easily work through any delays in the process.
Veterans Have Limited Time Frames
Because veterans who are still on active duty move often, they need a lender who understands their limited time frame. According to Realtor.com, service members only have 10 leave days to search for a new home, so your mortgage company should understand and accommodate this timeframe. In doing so, you will be helping them find an eligible home and approved for a VA loan quickly and professionally.
Veterans Need Strong Resale Value
Since they move sooner and more frequently than their civilian counterparts, veterans need a home that will have a good resale value and sell quickly. So when they come to you for a VA loan, you can help advise them about the best practices when buying a home like: