VA Loan trouble - Reach out to the VA
Hi Jim
Right now I am Permanent and total 100%. I have a VA secured loan on my house which I might have to let go. Do you know if the VA can garnish my disability pay if the loan goes bad? Thank you for your help in this matter.
Best regards
Reply:
As a rule, there aren't many circumstances where your disability payments can be garnished.
However, by working with a lot of vets over the years, I've learned that as soon as you think you're going under on a VA mortgage loan, you should reach out to the VA. That really is the 1st step and the smart thing to do. They're done this before, maybe thousands of times in recent years and they can help you. This is one of the very few parts of VA that seems to work fairly well.
Click http://www.benefits.va.gov/homeloans/
Read that stuff carefully and make the appropriate contacts.
There's no shame in this circumstance these days. Hundreds of thousands of people have had the same problem and it's rarely their fault. Once it happens, veterans should do their very best to minimize the damages. If you make the call, it puts you in the driver's seat.