>> Site Map >> Forums >> Veterans Service Organizations
Forum module - topics in forum:
Veterans Service Organizations - Thoughts, Opinions, Comments, and Suggestions - about all organizations that serve Veterans.
What to do for a vet in need?
Say, I have a question and will come back to this site to hear any replies.
I've been exploring ways to help a local vet out here who could really use some help (it's not me). There's an old special forces vet I know about who is nearly losing his house. He has wiped through most of his savings. At the moment, they have no heat. Friends are helping out some. I have some ideas we're kicking around, but could use others.
How'd the guy wind up like that?
1) Fully service-connected disabled vet with many health problems.
2) VA didn't cover an ambulance bill from one hospital to another. Was supposed to. Unclear there. He refused to pay the bill beause VA owed it. That dinged up his credit record.
3) They earlier bought a house with many concealed problems. Did some repairs and refinance. Took one of these adjustable rate mortgages. Payments went up from an affordable $1400/mos to $3000/mos. Now, they're about to lose their home, equity, and have wiped out all savings.
...This is a man who served his country well. He's been serving vets even while a dying man. Always willing to help other vets, but now he needs help. Won't even ask for it. He's founded and commanded VVA and VFW posts. Actually, he holds a high position among a major national veterans organization. I think it time the country serve this man.
What's he need most right now? Just a bank to help him refinance back down to affordable fixed rates and immediate resolution of that VA bill. Too many inquiries and refi rejections on file, I suspect. Old age, visible medical debts, likely mortality while under the loan due to health is surely an unspoken prejudice in loan.
I was thinking the vet leadership over at USAA or some of the "black funds" Booze Allen folks might be able to help. Have a couple other tricks up the sleeve, but I'd be happy to hear of any other options that might move through more quickly.
There are a lot of vets out there in situations like this. Can't help them all, but sometimes you can help one.
Thanks
First I think that the stuff from the VA should be straightened out.. Get those medical bills taken care of.. Clear up the credit with letters stating what happened and why. That in itself will take a bit to get through.. Though, I would contact the mortgage people and see if they have anything that they can do to refi that loan...
There are a few out there that will help Vets.. Wells Fargo is one of them... If they have not fallen behind in their payments for the house, even better... You could also contact your local senator or rep.. We are heading to an election year.. They are going to do what they can to help out...
Also see if they can get ahold of a Credit managing company.. That way They can pay off what they can pay off.. Short of a bankruptcy....
Thanks!
Thanks for the tips and reminders. We're working on it. He has about $40k in credit card bills that they've been living on and not paying....so, that's ruined things Mortgage payments have wiped out savings and he can only upkeep things until March or so. Debt is around $340k; Appraisal value of home on this market is around $250k. Unpaid medical transport bill that VA should have paid showing on file.
We'll be working to have a House rep help with speeding the VA issue. Going to private sector and corporate philanthropy to see if we can't get him a $40k or so 0% interest, long-term loan secured (or unsecured) to his property upon death. Not a handout, but just a charitable loan. With that, he can zero out his credit card bills, the VA bill, and re-fi at maybe a good fixed rate given by a bank with a heart. Like that, he won't lose his house and would be financially back where he was. When the market comes up again, he can always sell, reverse mortgage, or do whatever.
Just trying to see if I can find him some solution so he doesn't lose the house on the bad market. Gotta get him to hold out until 2009 or more. His health might not hold up, but, if he keels over, at least his family will have a better financial position than they're in now.
Thanks again,
- GQ
