The Veterans Administration was initially formed as a near completely independent government agency that had been founded as far back as in the 1930s. Initially referred to quite simply as "the VA," the organization had gone about providing various levels of patient care, veterans' benefits, as well as many other services to the veterans of the United States armed forces, along with their families.

Apart from that, this organization also provided those stalwart individuals who had willingly gone in harm’s way  with disability compensation in case they had been injured during their respective tours of duty (both stateside and abroad) or had contracted a lethal disease while serving in either the US armed forces, or any of their auxiliary arms. Moreover the VA has also provided surgical, medical, and rehabilitative care (in case that was required), education and training, bereavement counseling, surviving spouse benefits, readjustment counseling, life insurance, care and benefits to many homeless veterans, vocational rehabilitation, medical research, headstones/burial markers, and even home loan assistance (for both veterans and their surviving spouses). In 1988, the ‘VA’ became a full-fledged U.S. department of the federal cabinet and subsequently went through a change of nomenclature and had been called the “Department of Veterans Affairs” since then.

The VA currently employs close to 400,000 thousand people who are present at literally hundreds of Department of Veterans Affairs benefits offices, cemeteries, medical facilities and, clinics. The net program costs for DVA are close to the $three hundred billion mark, effectively making it one of the most expensive departments in the country.

The agency itself is led by the US Secretary of Veterans Affairs. Since the secretary is a full-fledged cabinet member, he is duly appointed by the US president with both the advice, as well as the consent of the United States Senate.

o The VA loan

Apart from its many programs, the DVA is also responsible for curbing rampant homelessness currently prevalent amongst those veterans who are not able to put a roof over their heads for any number of reasons. It is for this reason alone that the “VA Loan” has been created.

As a matter of fact, this is a sort of mortgage loan that is usually issued both to and by already pre-approved lenders (or lending institutions) and are moreover, practically guaranteed by the U.S. Department of Veterans Affairs or DVA.  The Veterans Administration created this program way back in 1944 when World War II was just about winding down. Ultimately the main purpose was to help all those returning service members (i.e. the veterans of some of the toughest battlefields of the world)to be able to buy their own homes without any prior need of making large and hefty down payment, up front. Even if they did not have great financial credit ratings in their own right. Due to the sacrifices they had made, the (then) Veterans Administration stepped in and guaranteed their loans in much the same way they had guaranteed the freedom of the whole world through their own blood and sweat and bravery.

is loan is approved by the US govt. itself.  this is a tremendous plus point from the point of view of the lending institutions since they will then have the desired confidence to go right ahead and proceed with the disbursement of the loan and thereby help various service members, as well as veterans, to be in a position to secure really amazing terms and rates.

This is an historic financial benefit program that has effectively helped guarantee well over 2 million Veterans Administration loans to help retired veterans, as well as their myriad counterparts on active military duty (along with their families) to either purchase their very own homes or otherwise, be in a position to refinance their already existing mortgages.

As of today, the Veterans Administration Home Loan program is currently taking center stage, viz-a-viz, its other entire extended network of programs for both current service members along with those individuals who have left the service.

This is largely due to the fact that many lending and financing institutions all over the country have essentially tightened many, if not most of their lending requirements in large part due to the collapse of the housing bubble around a decade back or so.

Since many veterans are not really in a position to buy houses due to the extensive costs of the property. They have no choice but to either remain homeless or live in rented premises with their earnings going into monthly rental payments. This is precisely why the Veterans Administration ‘Home Loan’ facility is a veritable lifeline for many, if not most, armed forces personnel. Especially if you vector in the fact that credit standards have risen to a great degree and it is very difficult for a veteran to be able to get hold of enough credit to afford a commercial loan, let alone the hefty down payments that may be required up front.

o Fully backed up by the express guarantee of the US government

If the veteran applying for the loan has been approved then he can rest secure in the knowledge, that h

o A VA loan is also available in spite of either bankruptcy or foreclosure

Subject to certain terms and conditions, it is entirely possible for an active service member or even a veteran to be able to acquire a soft loan even if he or she has had a foreclosure or bankruptcy in their credit history.

o Conclusion

The Veteran Administration as it has existed in its various iterations has been a tremendous help to aging and retired vets all over the country. We at Tommy’s Team help many retired individuals including vets find their bearings in today’s society as well as help them to continue their mission to make this world a better place. We would like you to join our team as well. You can do so simply by registering at http://www.tommysteam.com/

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