Anyone with knowledge on how this financial/credit crisis will affect
 

Loans for veterans who still have VA loans that they haven't used yet?

:Oh crap:Oh crap

* a VA loan is a loan guaranteed every veteran who served in the armed services, to buy a house at 1% interest, many times with no money down up to a certain amount, which I believe last I heard was 320k or so.

:warning:helpme

Veterans who served in combat will not be effected at all. Those that didn't will most likely have a lot of adjustments.

well i served in combat, and fall under this criteria as well. i hope they don't fuck with our veterans benefits because of this fucking bailout bullshit.


Gulf War - Service during period 8/2/1990 to date yet to be determined

If you served on active duty during the Gulf War, you must have:

* Completed 24 months of continuous active duty or the full period (at least 90 days) for which you were called or ordered to active duty, and been discharged under conditions other than dishonorable, or
* Completed at least 90 days of active duty and been discharged under the specific authority of 10 USC 1173 (Hardship), or 10 USC 1173 (Early Out), or have been determined to have a compensable service-connected disability, or
* Been discharged with less than 90 days of service for a service-connected disability. Individuals may also be eligible if they were released from active duty due to an involuntary reduction in force, certain medical conditions, or, in some instances, for the convenience of the Government.

Woah shit. I didn't know this.


Date 09/02/2008

Title Loan Guaranty Service: New Law and the Temporary Increase in Maximum Guaranty.

Description

New law provides a temporary increase in the maximum guaranty for loans closed on or after July 30, 2008 and no later than December 31, 2008. For all locations in the United States other than Alaska, Guam, Hawaii and U.S. Virgin Islands, the maximum guaranty amount is 25% of the greater of (a) $417,000 or (b) 125% of the area median price for a single-family residence, up to $729,750.


i bet they wont be giving anymore loans in this time period.

December 31st, 2008? :(

No thanks. I'm not buying until the bottom completely falls out of the housing market say in feb or march more than likely.

A1rek even not waiting for full bottom, the interest saved would more than likely cover any additional drop you may see.

you have a point.

i've been eyeing some really really nice loft style residences down by the ball park in san diego. they're now at roughly 325 and they started at 735 when they first finished them. a large percentage of the new build out residences in "new" downtown are sitting empty because of the financial issues at the moment.

maybe i should just start proceedings now.

That sounds like a good deal but ask to see the condo's financial before buying. If you decide to do it icq me and I can give questions to ask. Im on a condo board.

thanks tony, much appreciated.

i think the place is like 20% occupancy now.

hardly no one in the building.

I'm looking at some nice condos on in the Calabasas/Malibu Canyon area, prices have dropped big time! Stay in town homie!

san diego is my home. :(

l.a. blows my ass.

i will miss my friends though.

you want to hear some crazy shit. i have an almost 800 credit score, impeccable credit history. i went to get a 5k line a of credit for my company last week and was flat out denied because of what is going on.

sucks. the good people who kept their nose clean are fucked now because of people who overstepped their abilities. i guess the moral to this story is go big and go hard and let the govt clean up your messes when you make them.

:1orglaugh:Oh crap

sorry, out of curiosity what sort of questions would you ask?