Enhanced VA Mortgage Options Now Available for Veterans

Of Potential Benefit to Those in Financial Distress

WASHINGTON -- Veterans with conventional home loans now have new options for refinancing to a Department of Veterans Affairs (VA) guaranteed home loan.  These new options are available as a result of the Veterans’ Benefits Improvement Act of 2008, which the President signed into law on October 10, 2008.

“These changes will allow VA to assist a substantial number of veterans with subprime mortgages refinance into a safer, more affordable, VA guaranteed loan,” said Secretary of Veterans Affairs Dr. James B. Peake.  “Veterans in financial distress due to high rate subprime mortgages are potentially the greatest beneficiaries.”

Benefits for Veterans With Service-Connected Disabilities

(Separate from Vocational Rehabilitation)

Eligibility

• At least 10% service-related disability
• Discharged under other than dishonorable conditions

Traumatic Serviceman's Group Life Insurance (TSGLI)

Many WW's do not know about applying for TSGLI payments. This should be done through the SFAC. If there are any questions concerning eligibility for TSGLI or any related TSGLI questions, call the TSGLI Office at 1-800-237-1336 (Army); 1-800-368-3202 (Navy); 877-216-0825 (Marine Corps) or email them at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .