Posts Tagged ‘active duty’

Are You A Veterans? Get VA Loan

There are many Veterans in this country who are unaware of the housing benefits that are provided to them from the government. They should know that they can own a house very easily with the help of Veterans Administration Loans. Many of them who are aware of these benefits do not use them. They should know that it is the best benefit that a veteran is provided with in any country of this world.

The United States Department of Veteran Affairs has designed a loan for the people who served the military, National Guard or are reservists. However, to obtain this loan one has to contact the lenders who provide VA loans.

These people should apply for VA loans instead of other financial or mortgage loans because through VA loans they will attain more benefits. The best part about a VA loan is that there is no requirement of down payment. The veteran can get this loan without paying any heavy amount. The interest rate is also lower than other loans and 100% refinancing option is also available. This way you can save thousands of dollars and invest it somewhere else to live peacefully after you have retired. Veterans do not need to have any special qualifications to become eligible for this loan. If you have just served the nation for minimum three months on active duty and 181 days on non-active duty then you can easily qualify for this loan. Besides that, spouses of the personnel in the military can also qualify for this loan.

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Veteran Benefits That May Help Pay For Costs of Assisted Living

There are many veterans and surviving spouses of veterans who are currently either in assisted living or are looking to move into an assisted living community; however, the costs become such a burden on the resident and often times, the family has to keep their loved one at home due to the high costs of moving their loved one into an assisted living community. What many people don’t know is that there is a benefit for veterans and surviving spouses of veterans. The benefit is called Aid and Attendance and is provided by the VA. For the actual veteran, he/she can receive up to nearly $2,000.00 each month as a reimbursement for his/her expenses in assisted living.

Now, I’m not the expert on getting you the benefit, but I am the expert on giving you enough information to know if it’s something that you should be looking into and where you can get more information. For the surviving spouse, he/she may be eligible for close to $1,000.00 each month as a reimbursement for his/her expenses in assisted living. Now, you or your loved one is living in a skilled nursing facility and you’re wondering if the benefit will help pay for those costs. The answer is, absolutely. Most (if not all) medical expenses in fact, are reimbursable up to the cap amount that was mentioned previously.

How do you know if you qualify? Here are a few tips. The veteran will have had to be on active duty at least one day during one of the major wars such as Vietnam, World War II, or the Korean War, etc. The VA will look at your current income also. If your income is less than your medical costs (and yes, every penny of the cost of assisted living is considered a medical cost), you will be eligible to be reimbursed up to the full amount of the benefit. For example, say your income is $1,500 per month and your medical expenses are $3,000 per month. You will be eligible for a reimbursement of up to $1500 each month. This amount is paid to the veteran directly and not to the facility. Will they take into consideration that the veteran still owns a home and has other assets? Yes, however, there are legal ways to move these assets around to become eligible for the benefit. I would use the professionals to help you do this to make sure you’re doing it right.