| Show Vets Administration Information Service Veterans builders and lenders are again warned by the Veterans Admin Admin- Administration Administration Administration against the consequences of or making or accepting so-called so side payments in the sale of at home proper proper- properties properties properties ties to veterans with the aid of ot GI loans V-A V said such side payments payments usually usually made Thado for the purpose of evading the prohibition against sales to veterans in reasonable value excess of are arc a direct violation of law and subject offenders to possible Federal tion In spite of repeated warnings V-A V said cases c s continue to come to light wherein veterans have been Induced to pay the builder or seller an amount sales shown on o. o r and above the price the loan report submitted to V-A V and upon which the government loan guar guar- guarantee guarantee guarantee antee is based Veterans who knowingly conspire to evade the law by making such side payments a risk loss of their rights under all nil veterans veterans' laws V-A V warned In ad addition ad- ad addition all parties partie Involved arc are liable to toI prosecution under Federal law I V-A V said that any lender who sub sub- submIts submits mIts a 0 loan to V-A V for tor guaranty while possessing knowledge of a side payment in connection with the sale sal even asIC-even even even though the payment was made to a third party other than the lender may lender may be suspended from further participation In the GI loan program Also the V-A V VAI I I Continued on Page Five Vets Administration I Information Service I Continued from Page Pace One guaranty issued in connection with the transaction may be Invalidated I In cases where there Is any reason for tor doubt V-A V suggested that lenders obtain a signed statement from the vet vet- purchaser eran-purchaser that he Is making no payment to anyone In excess of ot the disclosed dis dis- disclosed disclosed closed purchase price V-A V said veterans should remember that the provision of ot the GI GJ Bill stipulating that the selling price to the veteran may not exceed the appraised reasonable value was placed In the law for tor their own protection against over over- overpriced overpriced overpriced priced properties A veteran who tho seeks to circumvent this provision by making an Illegal megal side payment Is only working against his own best Interests V-A V added V-A V again reminds veterans that they I I II I can get quicker and better service by I contacting the V-A V office where their I records' records are kept Usually that office is the Regional Office in the state where the tho veteran lives In Utah the Regional Office is 18 located at Salt BaIt Lake City Veterans who do not know where their records are maintained should visit or write their nearest V-A V office Contact representatives in the tho nearest V-A V office can advise and assist the veteran in obtaining any benefit to which he may maybe maybe maybe be entitled Too many veterans write tho the Washing Washing- Washington ton D O. DO TO office V-A V V A said sald Usually these these- letters are ara returned to the state office where the veterans veteran's records are kept As Asa a result extra correspondence is necessary necessary necessary sary on the part of the V-A V and a reply to the veteran is delayed i I |
