Talk of The Villages Florida - National Home Foreclosures

Quote:

Originally Posted by retiredguy123 (Post 2226010)

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.

Right on Retiredguy123. I'll add that back when we had a need for a mortgage, VA loans were too expensive. Yes - they always cost more than a well shopped non-VA mortgage. I tried to use my VA loan benefit, but it was always too costly. Your points about putting very little $ down on a home being a contributor to financial problems is also true. The measure of one's assets, (especially liquid assets) to liabilities really impacts how well someone is likely to navigate life's $ challenges.
- Retired before 50 by saving often and spending less. Now it's playtime.