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Show Housing advice given veterans . i May 22, 1933 The anni- j versa.ry of the sailing- of the steamship "Savannah" was designated as National Maritime Mari-time Day by resolution of Con- ' gress of The United States. The man who does things makes many mistakes but he never makes the biggest mistake mis-take of all doing nothing! veteran or nonveteran is a good credit risk and assumes all of the veteran's loan obligations. obli-gations. Mr. Smith pointed out, however, how-ever, that a release from liability lia-bility does not restore the veteran's vet-eran's eligibility for another GI loan. Eligibility is restored only if VA is no longer liable and if the veteran disposes of to the lender on the guaranty the home for certain acceptable reasons, generally because he is forced to sell because of transfer trans-fer or illness. Homes repossessed reposses-sed by the VA are sold to veterans vet-erans and nonveterans alike without regard to race or creed. With spring in the air, Elmer El-mer J. Smith, Manager of the Veterans Administration Regional Re-gional Office in Salt Lake City, offered advice to veterans who, like thousands of other American, Ameri-can, are thinking about buying buy-ing or selling a home. While Korean War veterans and certain World War II veterans vet-erans are still eligible under the GI home loan program, the vast majority of veterans interested in-terested in securing a GI loan to buy a home are younger men. Of the 394,776 GI home loan applications received by the VA nationwide, during the past two years, 302,311, or nearly 77 percent were from men who served after January 31, 1955. Last month the national figure climbed to about 85 percent with 16,270 of the 19,112 applications appli-cations from veterans who served after the end of the Korean Ko-rean War. For the veteran who is thinking think-ing of selling his home by allowing al-lowing the purchaser to carry his GI loan, the VA reminds him that he should protect himself him-self by getting a release of liability from the VA. Releases are issued if the new buyer |
