Posted: Sun Apr 11, 2004 5:43 am Post subject: Certificate of Veteran Status - A proof of being a veteran
The Certificate of Veteran Status is a document supplied to veterans who have been on service actively for 90 consecutive days (including training time). It is obtained by sending a form DD 214 along with the form 26-8261a to the local office of the Department of Veteran Affairs (VA).
Under the National Housing Act loan program, the Federal Housing Administration of the Department of Housing and Urban Development, United States offers a loan program for veterans. The department of VA determines whether a borrower should get the Certificate of Veteran Status and then issues the certificate as an evidence of entitlement to the benefits of HUD insured loan for veterans.
As a veteran, you may not be eligible for a VA guaranteed loan but still you can receive the Certificate of Veteran status. This legal document helps them to get the HUD insured loan with lower down payments. Borrowers should submit this certificate to the lender along with the loan application.
In general, there are certain conditions of eligibility for obtaining a Certificate of Veteran Status.
As a veteran, you should have been honorably discharged and served in the forces for 90 days continuously during a national emergency. You should have joined the service before September 8, 1980.
Veterans who began serving the regular component of the armed forces before September 7, 1980 or officers or reservists who have been on active duty after October 13, 1982 can be certified as a Veteran. But they must have served for at least 2 years or the full period of active duty before being discharged until and unless the discharge has been due to hardship or disability.
You can also receive the Veteran Status if you are a surviving spouse of a veteran and you have not married again.
You can also be the orphan of a veteran.
Law authorizes the Certificate of Veteran Status and so disclosure of any information provided on this document to anyone except the Veteran Affairs and the HUD is possible only if permitted by the law.
You mean you haven't received the discharge papers yet? why, have there been any problem? _________________ Procrastination is the enemy of your financial sucess
Posted: Tue Apr 29, 2008 1:22 pm Post subject: Check to see if you qualify for a property tax deduction
When you find you discharge papers you'll benefit by checking in with the tax assessor for a veterans tax exemption. This benefit reduces the dollar amount of property taxes to military service veteran homeowners.
Sam
