All Posts in "Month: November 2013"

Near the end of World War II, the U.S. government decided that it was both vital and wise to reward and honor the victorious soldiers and sailors who had won the war.
In 1944, Congress approved the Serviceman’s Readjustment Act, which included provisions for the granting and insuring of Veteran Administration (VA) loans.

Since VA loans were first introduced, more than 20 million service families have made use of them. The program has surely been one of the most successful ever undertaken to help those that serve our country in war and in peace.

With the end of military actions in Iraq and Afghanistan, a large number of veterans have or will be returning home – many who are planning to buy homes and start families, or move to new cities with new opportunities. And veterans from prior wars or peacetime may be looking to relocate or downsize.

Some may be concerned that the VA Loan process is complicated or even intimidating. Thankfully, the Department of Veteran Affairs has made important changes to the VA Loan process to make it easier and quicker to apply for and receive a loan.

A VA Loan is issued by any qualified lender and is designed to offer long-term financing to eligible American veterans or their surviving spouses. These loans are guaranteed for active military personnel and the following:

• Former and current active duty veterans. During war-time periods and active duty service, the veteran must have, at the minimum, 90 days of service on their records. If a veteran has served only during peacetime periods, the active service requirement is 180 days.
• Most members of the military, veterans, qualified reservists and National Guard members.
• Spouses of military members who died either while on active duty or as a result of a service-connected disability (and whom have not remarried).

Veterans who buy a house using the VA Loan process receive many benefits. In fact, veteran loans have benefits that regular housing loans don’t have. VA Loans may include:

• Zero or low down payment
• No or low closing costs
• No need to purchase mortgage insurance
• Access to renovation assistance and loans
• No cash reserve requirements
• More lenient income and credit score guidelines. (Note: Veterans Affairs does not require a minimum credit score for a VA Loan, but lenders generally have their own internal requirements.)

Even though VA loans are offered at many banks across the country, there are major differences in the experience an individual will have depending upon the type of bank one chooses to work with. The many differences include:

• The amount of face-to-face attention you will get at all levels of the process
• The time it takes to get pre-approved
• The time it can take to process the loan

Some people prefer to have a lender’s personal attention to answer questions and walk them through the entire process, which is what you will find at many community and regional banks.

Community and regional banks often have quicker turnaround as well. This can be very important for active duty personnel, since they may need to complete a transaction in a short amount of time, prior to deployment. For example, Northwest-based HomeStreet Bank employs in-house underwriters, which means they can preapprove customers in less than 72 hours and sometimes in as little as minutes.

One important aspect to look for at any bank you work with is whether there are provisions in the process for one spouse to complete the mortgage process if the other spouse is called up for immediate deployment. Obviously, this is a vital benefit in an occupation that, frankly, depends on a highly mobile workforce.

According to the U.S. Department of Veteran Affairs, VA lending numbers have been on the rise. In 2012 there were 30% more VA loans made than the previous year and three times more than 2008. In fact, the demand is similar to levels not seen since the mid-1990s.

To keep up with demand, the Department of Veteran Affairs has raised the no-down-payment maximum in higher-cost counties across the country including the Washington counties of King, Pierce, Snohomish and San Juan. This means that the home that once seemed out of reach may actually be attainable.

Many veterans and their families may come into the bank with the jitters, but the VA Loan process has been tailored in a way to make it easier. Often, customers are very pleased when they realize how much closer they were to being able to afford a home than they had realized! The amount of money and time saved with VA loans, compared to conventional loans, can end up being thousands of dollars.

The VA Loan was created to help veterans. Many changes have been made to streamline the process and make it easier for veterans to get and insure the loans they need. The best place to start is to sit down with a qualified banker, ask questions and develop a plan to get approved.

Jodi Watson, who wrote this article, is a loan officer for HomeStreet Bank in Tacoma.

Contributing Author by — November 26, 2013 in Everything Else

Madonna Hanna, who has a you-can-do-anything attitude, still surprised herself when she went from being a novice in track and field to part of a medal-winning relay team in this year’s national Senior Games.
Hanna, 59, is a Milken Educator and motivational speaker with more than 30 years of experience as a teacher and 25 years as a program creator, coordinator and fund-raiser. She has earned national recognition as a career and technical educator, plunged into community service and tackled speaking engagements on topics such as bullying, swearing and group behavior issues.
But she had no reason to think she might be a national-caliber senior sprinter. The Ruston resident had no experience in track and field, and her only previous foray in sports was when she took up tennis and bowling in her 20s before she decided “on a whim” in 2011 to enter the 100-meter and 50-meter dashes in the state Senior Games.
“I was just looking for something to do in the summer. I was teaching at the time,” Hanna said.
Her husband Steven, a former track competitor who also coached the sport at the high school level, became her personal trainer and coach. He soon had her running stadium steps and doing situps to get in shape for races that she. figured just required her to “run in a straight line as fast as I can.”
That worked. In the 2012 state games, her third-place time in the 200-meter race qualified her for the national meet. She also was invited to run in the 4×100 relay at the nationals.
Fast-forward to last summer and the national games July 19-Aug. 31 in Cleveland, Ohio. Having never run in a relay previously, Hanna found herself trying to pick up the finer points of the event in literally minutes. After finishing ninth in the 100 in 16.8 seconds, the fastest she’d ever run it, Hanna had 15 minutes to learn 4×100 techniques, including which hand to hold the baton with and how and when to transfer it to the next runner.
Hoping she was a quick study, Hanna gave it a try. After sprinting through the first leg of the relay, Hanna’s handoff to the next runner was perfect, and their team went on to finish third and earn the bronze medal.
“I couldn’t believe it I did it. The whole thing was so exciting,” Hanna said. .
The Senior Games began in 1985 in St. Louis, Mo., the brainchild of seven men and women who formed what orginally was known as the National Senior Olympics Organization. The games, held every two years with as many as 100 participants, promote healthy lifestyles for adults through education, fitness and sport.
For Hanna, who taught fashion marketing and career opportunities at Bremerton High School and Bates Technical College and earned a statewide Milken Educator award before changing professions, the games are a real-life example of what awaits people who step (or is that run?) out of their comfort zone and try something completely new.
“I’m so glad I decided to do this. I never would have known I could do it if I hadn’t tried,” she said.

Madonna Hanna celebrates at the National Senior Games with her husband and coach, J. Steven Hanna.
Madonna Hanna celebrates at the National Senior Games with her husband and coach, J. Steven Hanna.

srmedia by — November 19, 2013 in Spotlight

Here we are nearing the end of the year again. It has been a very busy year with exciting things to do and places to go. It is sometimes hard to try to decide what to do next. We are always looking for suggestions.
There might still be some space on the Cuba trip Dec. 1 for those who can’t make up their minds until the last minute. We might even still be able to find space on Princess cruises for anyone who would like to that that wonderful 15 day cruise out of San Francisco to Hawaii and back. There have been some very good fares listed for that one.
Now is also the time to be thinking of our cruise out of Galveston to Roatan and Belize on March 9. A nice seven-day cruise to get you out of the weather and start you thinking about spring.
And then there is our annual two-week trip to Hawaii. This year it will be Maui. Come along and see every inch of the island. The price tag includes lots of day trips, plenty of meals and a great deal of fun, sun and relaxation.
Further into the spring is Washington, D.C. for the cherry blossoms. Think about perhaps staying in the country and seeing those things which have been so important to us – the Jefferson, the Lincoln, Vietnam and Korean War memorials. The Smithsonian. Visit Mt. Vernon, Alexandria, Arlington, and even tour Annapolis.
Want something a little more exotic? Then how about Portugal, Spain and a river cruise through the Duro Valley? Everything is included on this one, with no extras for shore excursions or even cocktails.
For further information on these and many other trips (don’t forget all the dinner dates and mystery trips, the MOHI and the theater), call me at 253 927 8207 or get on the e-mail list at linda.finch@gmail.com.

Linda Finch by — November 13, 2013 in Lifestyle, Home, Adventures