ptsd I'm Not Sure Where To Put This, Can Anyone Help?

[vistagirl81]

Hello everyone, i just have a question about home loans. My husband was found to be incompetent per the Va due to lack of evidence saying that he is competent (due to his PTSD). Can we still buy a house? His name would have to be on it. I am sorry if this is not the place to put it, thank you.

[Pete53]

You can still get the home loan. The competency issue is only for VA Pay

[out_here04]

here's some readin' for ya:

http://www.vba.va.gov/ro/houston/lgy/Lende...0May%202009.pdf

somewhere in the training guide it refers to the Lender's Handbook, Chapter 5, Topic 4 (read all you need, just tried to clip and bold-face some for you; there are some hyper-links at the actual web pages that did not copy below) p.s., hope this helps get you close to the right road; looks complicated...

LOANS THAT REQUIRE PRIOR APPROVAL

(Lender’s Handbook, Chapter 5, Topic 4)

All lenders, whether or not they have automatic authority, must submit the following types of loans to VA for prior approval:

Any joint loan where title to the property will be held by the veteran and any person other than the veteran’s spouse.

Loans to veterans in receipt of VA non-service-connected pension.

Loans to veterans rated incompetent by VA.

Interest Rate Reduction Refinancing Loans (IRRRLS) made to refinance delinquent VA loans.

Cooperative loans.

Unsecured loans, or loans secured by less than a first lien.

VA Home Loans Lender's Handbook:

http://www.warms.vba.va.gov/pam26_7.html

(Lender’s Handbook, Chapter 5, Topic 4)

4. Prior Approval Loan Procedures

Change Date September 29, 2008, Change 7

• Subsection a removed cooperative loans from the list of loans requiring prior approval.

• Subsection c, step 2, has been changed to delete references to form numbers for Certificates of Eligibility.

• Subsection j has been changed to delete the requirement for VA Form 26-0285, VA Transmittal List, and the VA Funding Fee receipt. VA Form 26-0285 is no longer required and funding fee information is now automatically captured in VA systems. The subsection has been renumbered.

a. Which Loans are Submitted for Prior Approval? Lenders without automatic authority must submit all loans to VA for prior approval, except IRRRLs made to refinance loans that are not delinquent.

All lenders, whether or not they have automatic authority, must submit the following types of loans to VA for prior approval:

• Joint loans.

• Loans to veterans in receipt of VA nonservice-connected pension.

• Loans to veterans rated incompetent by VA.

• Interest Rate Reduction Refinancing Loans made to refinance delinquent VA loans.

• Manufactured home loans (except when the manufactured home is permanently affixed to the lot and considered real estate under state law), unless the lender has been separately approved for this purpose.

• Unsecured loans or loans secured by less than a first lien.

• Supplemental loans.

Note: VA Form 26-8937, Verification of VA Benefits, will indicate whether the veteran receives VA nonservice-connected pension or has been rated incompetent by VA. See “Debt Related to VA Benefits” in section 6 of chapter 4.

That's the end of the clipped portion. There is, of course, much more on the actual process within the two links above. Here is a link to the VA Form 26-8937, Verification of VA Benefits. Towards the bottom of the form it states:

Veteran has been rated incompetent by VA. LOAN APPLICATION WILL REQUIRE PRIOR APPROVAL PROCESSING BY VA.

Under "Instructions to Lender" it states:

Complete Items 1 through 10. Send the completed form to

the appropriate VA Regional Loan Center where it will be

processed and returned to the Lender. The completed form

must be retained as part of the lender’s loan origination

package.

http://www.vba.va.gov/pubs/forms/26-8937.pdf

Edited September 24, 2009 by out_here04

[vistagirl81]

If i am his payee, and we will be getting a VA home loan, will he be denied because he is incompetent? Thanks everyone for trying to help me understand.

Edited September 23, 2009 by vistagirl81

[out_here04]

This is as far as I get from the VA Form 26-8937:

Veteran has been rated incompetent by VA. LOAN APPLICATION WILL REQUIRE PRIOR APPROVAL PROCESSING BY VA.

Does anybody know for vistagirl81 HOW this is done? Does submitting the form automatically generate "prior approval processing"? What is her source for asking questions (per the form "Send the completed form to

the appropriate VA Regional Loan Center where it will be processed and returned to the Lender."

Is the VA Regional Loan Center the same as the VA Regional Office?

Should she call the VARO at 1-800-827-1000 and follow the prompts to VA Home Loan reps to get her questions answered?

[out_here04]

If i am his payee, and we will be getting a VA home loan, will he be denied because he is incompetent? Thanks everyone for trying to help me understand.

i think the answer to this question is "they better damned not". i would hope it is to protect the incompetent veteran by double-checking to make sure a veteran in your husband's category is not being taken advantage of by, oh say an identity thief??? an evil twin? umm use your imagination here. as his bona fide ("in good faith") payee, the va is giving your husband his deserved home loan guaranty THROUGH you.

as an aside tip, if you don't know where to put a va claim OR benefit (like va home loan) question, generally put it in the top forum "VA Claims Research - Veterans Affairs Claims and Benefits Research". if you notice, there is more activity there than the other forums. a lot of "newbies" to hadit put as the topic something like you did "i'm not sure where to put this..." if you would have named your topic something like "va home loan question" it would get more attention.