December 10, 2018

High Unemployment for Veterans

“Veterans face an even tougher time in today’s labor market than others, Alana Semuels of the L.A. Times reported July 11. The unemployment rate for veterans nationwide was 13.3% in June, compared to the 9.2% unemployment rate for all workers. The figure for veterans jumped more than a percentage point in June, up from 12.1% in May.

High Unemployment for Veterans

More than 1,000 veterans attended the Hiring Our Heroes job fair in Culver City, California on July 10, where Prince William and Catherine stopped as part of their tour of California, with few actial jobs being offered. With troop levels winding down in Afghanistan and Iraq, unemployment figures for veterans could go even higher, according to Kevin Schmiegel, an employee of the U.S. Chamber of Commerce, who helped organize the fair.

“”You’re going to see the number grow,”" said Schmiegel. “”That’s why it’s so important to proactively address the issue before it becomes a larger problem.”"

There were about 200,000 more veterans in the labor pool this year than compared to last year, but employers only added 18,000 jobs in June. In California, the labor market is even tighter than the rest of the country with an unemployment rate of 11.7% in May. That is over two and a half points higher than the rest of the country.

At the job fair in Culver City, according to Semuels, employers like Sony, Target and Amazon featured booths, but not many were accepting applications. They handed out keychains, pens and candy but directed most veterans inquiring about positions to their company website.

Even veterans with advanced degrees have found it tough in this economic environment. Charlene Emfinger, a former electrician in the Navy, recently received her bachelor’s degree from Cal State Northridge. She initially planned to find an entry level management position but is willing to settle for an administrative assistant position. She initially thought that her experience and degree would help land her a well-paid job, but now she and her husband, also a veteran, are falling behind in their payments.

“”At first I was optimistic.”" said Emfinger. “”But now I’m just really frustrated. It doesn’t make any sense.”"”

LA Times

Jobs outlook darkens for veterans in June – Army Times

Stimulus, RIP: Did the stimulus bill fail? – Slate Magazine

Fed Data Cruncher Finds Jobless Problem Fixable – Bloomberg

Small businesses won’t provide new jobs: survey – Reuters

VA Refinance Benefits

Whether you have a VA home loan or a traditional mortgage, you might also qualify for a VA Refinance loan or a VA IRRRL (Interest Rate Reduction Refinancing Loan) or “streamline” loan. These programs, available to qualified veterans and active duty military and spouses, may enable you to lower payments and even squeeze out a bit of home equity cash.

VA Refinance

Refinancing Basics

Why refinance anyway? Typically, homeowners consider refinancing their mortgage to get a better interest rate, or as a cash-out payment for home equity–a part of the home’s value.

Refinancing is not always a good move, which is why it’s critical you consult a lender that participates in the VA mortgage or home loan program. They can advise you on your qualifications, any financial repercussions of a refi, and the VA programs available.

VA Refinance and IRRRL Programs

Two variations of a VA Refinance are available to veterans and active duty military personnel. In either case you must live most of the time in the house you’re refinancing—it cannot be a rental property or a temporary or vacation home.

  • VA Refinance Program – you can refinance a VA guaranteed mortgage or a traditional home loan with this program. If you have equity in the home you can also use it as a “cash-out” option. First, choose a lender that participates in the VA Loan program. Your lender will verify your eligibility for the new VA loan, including a credit check. Just because you have an existing home mortgage doesn’t necessarily mean you’ll be approved for a refinance. You must have good credit and enough income to pay a monthly mortgage and other key monthly bills. You will also need a current Certificate of Eligibility (COE) that you can download and complete on the Department of Veterans Affairs website.

The VA Refinance program is limited to mortgages of 30 years or less and may only cover 90% of your home’s value. Ask your lender if there are any additional fees you’ll be required to pay as part of the refinance and plan accordingly.

  • VA IRRRL Program —The Interest Rate Reduction Refinancing Loan is also commonly called the “Streamline” loan and it does exactly what it sounds like it may do: lower your current mortgage interest rate. Unlike the above VA Refinance, there is no cash-out or home equity option and you must already have a VA Mortgage.  Because this is an “interest rate reduction” loan it stands to reason that part of the requirement for this program is that your new loan must actually provide you with lower interest rates.

Because you are free to choose any lender you’d like that handles IRRRL loans, it’s important you choose wisely. Ask about additional fees that might be required and beware any attractive options to bundle incentives into the loan that could lift your loan amount and payments higher.

Refinancing your home’s mortgage with a VA refinance loan could be a valuable benefit when used wisely. Learn more about these programs by visiting the Department of Veteran’s Affairs website. [http://www.vba.va.gov/VBA/ ]

VA Mortgage

Home ownership is a dream of many Americans. Unfortunately buying a home is a costly venture and for most people, if you suddenly are unable to pay your mortgage you lose your home to foreclosure.

VA Mortgage

But for service men and women the Veteran’s Administration provides a VA Mortgage program, designed to offer financial advantages that may make it easier to buy a home.

How the VA Mortgage Program Works

The VA Mortgage or Home Loan is available to all qualifying veterans and active military personnel, as well as their spouses.

Veterans interested in a home loan backed by the VA can work directly with a private lender. You must make sure the lender participates in the VA Home Loan. Your lender and real estate agent assist you in shopping for a home and in qualifying for a loan.

To be eligible for the VA Mortgage, the home you’re buying must be the home you’re going to live in most of the time. You will not be eligible for a VA home loan if your intention is to rent the house out to someone else or use it as a vacation or temporary home.

As valuable as is the VA Mortgage program, it is not a magic bullet. Applicants must still be credit worthy—your credit standing must be good and you must be able to substantiate income that can support a monthly mortgage. But there are some nice advantages once you do qualify.

VA Mortgage Advantages

Here are the key advantages to the program:

  • VA Mortgage is available to all veterans and active duty military people not just first time homebuyers as is often the case with other types of home loan benefit programs.
  • If you qualify for the loan you may be able to buy with no money down—a big benefit that helps keep more money in your bank account.
  • Should you lose your job or suddenly incur massive financial hardship, the Veterans Administration can step in to help—it is your loan guarantor. In the real world, if you experienced sudden financial hardship, your lender could foreclose on your home.
  • The VA Mortgage home loan exempts you from buying private mortgage insurance, or PMI. This additional cost is required of most home buyers. PMI insurance benefits the lender and helps offset costs should a home loan go bad. It’s not typically a lot of money, but the savings adds up.
  • Pay limited closing costs. Closing costs are those extra expenses many homebuyers automatically pay—sellers could pay if negotiated into the deal—that cover things like administrative and attorney’s fees associated with “closing” the deal.

Home ownership has been an American ideal for decades. And there may be no more deserving homebuyer than a veteran and his or her family who have given of themselves in service to the country.

To learn more about the VA Mortgage program available for Veterans and active duty military personnel, visit the VA Home Loans webpage [http://www.benefits.va.gov/homeloans/ ]. You may also be required to submit a Certificate of Eligibility to receive the VA Mortgage and other benefits available to you.

Veteran Benefits And The Veterans Health Administration: The Facts

The Veterans Health Administration is a part of the government of the United States that serves the veterans of the military and gives them health benefits as well as their spouses and their children. Although there are a lot of factors to consider and an application process to go through to be able to be eligible for these benefits, the program they offer is really advantageous to the member of the military who have unselfishly risked their lives to fight for their country.

veterans health administration

Eligibility is one thing to consider when applying for health benefits in the administration. You may be asking yourself several times already, “Am I eligible?” A lot of people in the military don’t know that they are eligible for these benefits; they just didn’t pay much attention to it yet. To be eligible you must be an active US military member and must be discharged from duty. You must also have served the minimum number of months required for you to become a veteran. All veterans who have served since 1980 are also included. For the complete list of eligibility requirements, you may visit the website of the administration and find out if you are truly eligible.

Now let us talk about the benefits. Veterans can enjoy so many programs that cater to their health, disability, lack of income, education, spouse, children, and other dependents. Even house loans are included in the list of benefits as well as death pension benefits for both the veteran and the surviving family.

Veterans can enjoy medical care from some of the most reputable hospitals around the country. Whether it is outpatient care or inpatient services, you will find what you need with this program. Some of the inpatient services include diagnostics, admissions to hospitals, drug prescriptions during admissions, medical checkups, surgical procedures, emergency care, and admissions to nursing home facilities.

For outpatient care, there are also a lot of benefits. These include but may not be limited to checkups in outpatient departments, drug prescriptions in outpatient departments, checkups on general health and also mental health.

Rehabilitation is also included in the benefits, especially since there are a lot of disability cases with veterans. Physical therapy and occupational therapy are at your advantage as long as you enrol for these services.

Home health services are also a part of the package, as well as pregnancy packages for female veterans. There is also hospice care, counselling, and bereavement services offered to members of the veteran US military.

If you have been disabled due to trauma during your duty, the benefits also cover reconstructive surgery as well as other surgical procedures that may contribute to your healing process. They also offer prosthetic and orthotic services for those veterans who lost a body part during their duty. Of course, rehabilitation comes as part of the prosthetics and orthotics services.

Although there are certain conditions that the administration cannot provide, such as abortions, health club memberships, and private nursing, with all these benefits you are still able to get what is necessary. Veterans health Administration takes care of your health needs as long as you are eligible as a veteran of the US military.

Find out more, visit: https://www.qmo.amedd.army.mil/

U. S. Veterans Can Benefit From The Veterans Benefits Administration

Veterans benefits have been the responsibility of the federal government ever since the end of the Revolutionary War around the year 1789. Back then, the laws and constitution of the United States just started to get approved. Since then, the government has always made it a point to include benefits for veterans who have served the country and who may have sacrificed their lives as to protect their beloved country.

veterans benefits administration

The Veterans Administration was then created to give these veterans the benefits that they so truly deserved. Medical help, long-term nursing care, house loans, and educational loans were just among the many benefits of the said program. Even families of the veterans were included in the benefits, and more important pensions like death pension were also given out to those who served the country well.

There are programs that are waiting for veterans who have were disabled due to the services they offered to their country, for veterans who have limited income that may or may not be due to certain disabilities, further education and skills training for veterans, house loans, benefits for their families or in cases of death, the surviving ones, death benefits, life insurance, benefits for imprisoned veterans, educational assistance for veteran’s families, compensation for parents and other general services.

There are, however, a few things to consider, that is why the Veterans Benefits Administration require each veteran to apply and enrol themselves for these programs to make sure that accurate information is being gathered and they can determine which benefits are necessary to be given to the individual. Your requests have to be approved, and you must provide the documents that are necessary for the processing of your application.

In order to apply, you need to obtain a completely filled form of your discharge form, or otherwise known as the WD form. These contain vital information about your military work and other personal details like your name. It also contains your military service number, the type of discharge you were given, and your service dates. For death pension, you may need to present some documents so that your surviving loved ones can benefit from the program. These may include birth certificates of those who are involved.

To be able to take part in this program, you must find out if you are eligible. You must be an active member who was discharged and who has served about twenty-four months of duty. For your loved ones, your spouse is entitled to medical, death, and job benefits as long as you are legally married.

If you have children, they are also eligible for medical care, educational assistance, burial assistance, and survivor benefits. You may ask more about this program from the Veterans Benefits Administration to know the full services that they can offer you.

This program does not only cater to male veterans of the United States military, but also to women veterans. With veterans benefits, it does not matter if you are male or female, as long as you served the country, you are given these wonderful things to live by.

Resource link: http://www.whitehouse.gov/open/innovations/vaii