Quote:
Originally Posted by Marine1974
So my VA loans with 0 down and 2.399% 30 year fixed is not away to avoid foreclosure? My principal goes down $900 a month when I make my payment.
|
I know you won't agree, but I think the VA loan program, which is promoted as a "benefit", actually does a disservice to a lot of military people, especially young people. They buy a house with no money down, get a car loan, buy a lot of furniture and other things for the house, all with the premise that they are making a good investment. Unfortunately, many of them are never able to get out of debt, even if they are able to avoid foreclosure, which many are not. Not a good lesson in financial planning. Clark Howard, my hero cheapskate, and a military reservist, has given a lot of lectures on financial planning to his fellow military members. He has become a millionaire many times over by avoiding debt.