V.A. mortgages drying up

With all the problems American military vets face, The New York Times' Bob Tedeschi writes about another one -- the difficulty in getting V.A. mortgages.

Tedeschi writes,

"MILITARY veterans have long been accustomed to a relatively easy mortgage process. Even borrowers with no down payment or a low credit score were usually granted V.A. loans, in large part because the Department of Veterans Affairs insures a quarter of the loan amount."

"But about two years ago, lenders began limiting the conditions under which they would offer these mortgages, and industry executives say that since the start of the year, all the nation’s major lenders have followed suit."

This is not a new issue. Loans are still offered with no down payment but some of the big lenders are backing away.

Credit scores seem to be playing a major role in the decision of lenders to make the insured loans.

Is this a way to treat men and women who have stood in the front lines for America?

Read the full article here.

If you have questions about what you see here,
contact Stephen M. Flatow
StephensTitle AT comcast.net