"Vic Smith" wrote in message
...
On Wed, 13 Feb 2008 16:01:14 GMT, Short Wave Sportfishing
wrote:

On Wed, 13 Feb 2008 08:22:34 -0600, Vic Smith
wrote:

Saw Jim Webb on C-Span a while ago talking about his and Chuck
Hagel's attempt to get the GI Bill back to where it was before Reagan.
I think the guys putting their lives on the line for us in Iraq and
Afghanistan deserve that. Webb said the educational benefits of that
bill returned 7 to 1 (tax revenues vs costs.)
I'm sure it did in my case. Probably more.
Republicans in the Senate are generally not supporting it.
Creeps.

Once again, the Korean and Vietnam vets get it tucked straight up the
ass.

Moron.

Guess you don't know much about it, or just have jerking knees.
From right after WWII until sometime in the 80's, maybe late 70's,
ALL vets were eligible for state school tuition, and a monthly
stipend.
I served 64-67 and that's how - and WHY - I attended college.
What's your beef? Don't like Jim Webb?

--Vic

I don't know how or when the benefit package changed, but I was active duty
from '68 to '77. Continued school after I got out with full GI benefits
and purchased my first house with a VA backed loan.

Eisboch

On Wed, 13 Feb 2008 11:38:45 -0500, "Eisboch" wrote:




I don't know how or when the benefit package changed, but I was active duty
from '68 to '77. Continued school after I got out with full GI benefits
and purchased my first house with a VA backed loan.

As I recall reading it, the change was something like a 100% match of
what you contribute for tuition. So you'd have to contribute $1000 to
get $2000 back.
My tuition was paid in full, no contribution from me. Besides that I
was getting a gov check for $400 a month while in school.
There was a maximum, and I hit it as I finished school.
I doubt I would have attended college without that GI Bill, because
I started late and already had kids.
Didn't use a VA backed loan for my first house as I had 20% down,
which used to be the standard. I recall hearing the VA loans
sometimes were a hassle in Chicago, because an inspection had
to find the house up to all codes, which often required the seller do
some work, making VA buyers less desirable.

--Vic

"Vic Smith" wrote in message
...
On Wed, 13 Feb 2008 11:38:45 -0500, "Eisboch" wrote:




I don't know how or when the benefit package changed, but I was active
duty
from '68 to '77. Continued school after I got out with full GI benefits
and purchased my first house with a VA backed loan.

As I recall reading it, the change was something like a 100% match of
what you contribute for tuition. So you'd have to contribute $1000 to
get $2000 back.
My tuition was paid in full, no contribution from me. Besides that I
was getting a gov check for $400 a month while in school.
There was a maximum, and I hit it as I finished school.
I doubt I would have attended college without that GI Bill, because
I started late and already had kids.
Didn't use a VA backed loan for my first house as I had 20% down,
which used to be the standard. I recall hearing the VA loans
sometimes were a hassle in Chicago, because an inspection had
to find the house up to all codes, which often required the seller do
some work, making VA buyers less desirable.

--Vic

My experience with the VA backed loan program was different. The guy
showed up, asked me what the house was selling for, then asked if I thought
it was worth it. I said yes, and he signed off on it.

Eisboch

On Wed, 13 Feb 2008 10:59:00 -0600, Vic Smith
wrote:

On Wed, 13 Feb 2008 11:38:45 -0500, "Eisboch" wrote:




I don't know how or when the benefit package changed, but I was active duty
from '68 to '77. Continued school after I got out with full GI benefits
and purchased my first house with a VA backed loan.

As I recall reading it, the change was something like a 100% match of
what you contribute for tuition. So you'd have to contribute $1000 to
get $2000 back.
My tuition was paid in full, no contribution from me. Besides that I
was getting a gov check for $400 a month while in school.
There was a maximum, and I hit it as I finished school.
I doubt I would have attended college without that GI Bill, because
I started late and already had kids.
Didn't use a VA backed loan for my first house as I had 20% down,
which used to be the standard. I recall hearing the VA loans
sometimes were a hassle in Chicago, because an inspection had
to find the house up to all codes, which often required the seller do
some work, making VA buyers less desirable.

--Vic

Vic, the numbers I used in an earlier post are accurate.
--
John H

On Wed, 13 Feb 2008 12:08:57 -0500, John H.
wrote:


Vic, the numbers I used in an earlier post are accurate.

Hadn't seen that, but I expect you know it well.

--Vic

On Wed, 13 Feb 2008 11:38:45 -0500, "Eisboch" wrote:

I don't know how or when the benefit package changed, but I was active duty
from '68 to '77. Continued school after I got out with full GI benefits
and purchased my first house with a VA backed loan.

Yes you could, but you could get a commercial loan for .25% less than
what the VA authorized and there was considerably less paperwork.

And it wasn't a full "loan" - it was a security backed loan with a
guarenteed down payment - not the full loan like WWII vets got.

"Short Wave Sportfishing" wrote in message
...
On Wed, 13 Feb 2008 11:38:45 -0500, "Eisboch" wrote:

I don't know how or when the benefit package changed, but I was active
duty
from '68 to '77. Continued school after I got out with full GI benefits
and purchased my first house with a VA backed loan.

Yes you could, but you could get a commercial loan for .25% less than
what the VA authorized and there was considerably less paperwork.

And it wasn't a full "loan" - it was a security backed loan with a
guarenteed down payment - not the full loan like WWII vets got.


It really wasn't a loan at all. The VA simply "co-signed" in a way, my
application for a mortgage.

Eisboch

On Wed, 13 Feb 2008 16:15:26 -0500, "Eisboch" wrote:


"Short Wave Sportfishing" wrote in message
.. .
On Wed, 13 Feb 2008 11:38:45 -0500, "Eisboch" wrote:

I don't know how or when the benefit package changed, but I was active
duty
from '68 to '77. Continued school after I got out with full GI benefits
and purchased my first house with a VA backed loan.

Yes you could, but you could get a commercial loan for .25% less than
what the VA authorized and there was considerably less paperwork.

And it wasn't a full "loan" - it was a security backed loan with a
guarenteed down payment - not the full loan like WWII vets got.


It really wasn't a loan at all. The VA simply "co-signed" in a way, my
application for a mortgage.

Eisboch


I believe the VA guaranteed repayment of a percent of your loan. I don't
recall what the percent was, but I think that's how it worked.
--
John H

On Wed, 13 Feb 2008 16:15:26 -0500, "Eisboch" wrote:


"Short Wave Sportfishing" wrote in message
.. .
On Wed, 13 Feb 2008 11:38:45 -0500, "Eisboch" wrote:

I don't know how or when the benefit package changed, but I was active
duty
from '68 to '77. Continued school after I got out with full GI benefits
and purchased my first house with a VA backed loan.

Yes you could, but you could get a commercial loan for .25% less than
what the VA authorized and there was considerably less paperwork.

And it wasn't a full "loan" - it was a security backed loan with a
guarenteed down payment - not the full loan like WWII vets got.

It really wasn't a loan at all. The VA simply "co-signed" in a way, my
application for a mortgage.

That's correct - they cosigned to guarantee a certain percentage
(which I believe at the time) was 2% of the total value of the loan.
John had it right as I remember it.

I'm not saying it wasn't a good benefit - it was, but lenders, at
least when I was looking at a home, were reluctant to loan against a
VA guarantee and would actually discount their rate to avoid it.

Then again, that was my experience. I've never used the VA loan
benefit because it was cheaper for us to co-own sans VA guarantee.

By the way, I'm not a huge fan of the VA in general.

I have my reasons -someday when we're just sitting around with nothing
else to do I'll tell you why.

"Short Wave Sportfishing" wrote in message
...

On Wed, 13 Feb 2008 16:15:26 -0500, "Eisboch" wrote:



By the way, I'm not a huge fan of the VA in general.

I have my reasons -someday when we're just sitting around with nothing
else to do I'll tell you why.


Other than the education benefit (which helped because I was married, two
kids, working my first, real civilian job and going to school at nights)
and the purchase of our first house, I haven't had anything to do with them
since.

Oh.... yes, I did.

I recently requested (on the on-line military records website) a stamped
copy of my DD-214. I don't know what happened to the original I had, and I
want a free flag when I kick the bucket.

Eisboch