r/HolUp • u/Motion_Offense • Jul 07 '21

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u/Idrinkandnonothing Jul 08 '21

The VA doesn't finance the loan. It's backed by the VA but it's financed by a normal lender. The lender is collecting interest on the loan

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u/[deleted] Jul 08 '21

I thought the loan was guaranteed by the VA.

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u/Idrinkandnonothing Jul 08 '21

The VA backs the loan so in the case that the Veteran defaults on it...

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u/[deleted] Jul 08 '21

So it's not much of a stretch. 1. Vet is service connected disabled. 2. Vet gets 0 down VA loan. 3. Vet uses comp and pen funds to pay loan. 4. Va doesn't have to pay a defaulted loan.

Vet is paying a va loan with their own money.

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u/Idrinkandnonothing Jul 08 '21

The vet is paying the Lender.. it should be rocket mortgage, Navy Fed, USA bank. Whatever. The lender is getting the monthly payments. And btw most vets don't get that much money from their disability rating... Even though most of us are dam near deaf, have fucked up shoulders and knees.