Veterans and active-duty military members have access to one of the most flexible and low-cost lending programs in the country, the VA Loan. It’s not by accident — the VA Loan Guaranty program was created 65 years ago to honor the service and sacrifice of the nation’s military members.
What is a VA Loan?
The VA home [...]
One longstanding tradition in the military is the benefits Congress has enacted on the behalf of military members and veterans. As any military member can attest, military base pay is nothing to write home about (check out 2009 pay charts). Without the benefits included in the compensation package, most military members would not be able [...]
The Obama administration was considering a bill that would charge veteran’s insurance companies for medical care related to treatment of combat and service-related injuries. I don’t know whose idea that was, but it was met with extreme criticism from Veteran’s groups and military members. A third party billing system would make insurance more costly and [...]
There is good news for most military members – 2009 BAS and BAH rates have been announced, and the rates are going up for most people.
New BAS Rates:
Basic Allowance for Subsistence (BAS) Rates for CY09 were recently announced by the Secretary of Defense and become effective January 1, 2009.
Enlisted: $323.87
Officer: $223.04
New BAH Rates:
BAH rates vary [...]
I received a reader question this week:
Hi Ryan,
Let’s say an Individual put in 15 years active duty, then separated from the Army at his own request with a less than Honorable Discharge. What would his entitlements be for the time he served in on Active Duty? Is he entitled to Partial Retirement Pay? Or does [...]
With the current issues with our economy, many people are having trouble making ends meet. That is why the VA is reaching out to vets who are having problems making their mortgage payments. Since 2000, VA counselors have helped about 74,000 veterans, active-duty members and survivors keep their homes, saving the government nearly $1.5 billion.
The [...]
I have a new feature to announce on this site – a military discounts page. There are a lot of ways to make free money out there and one of my hobbies is finding them! My goal is to bring everyone regular updates on ways you can save money and make money through deals, discounts, [...]
One of the best benefits that many military veterans have is the GI Bill. Unfortunately, many veterans don’t take advantage of this benefit. There are many reasons people don’t take advantage of the GI Bill – not enough time to go to school, no desire for more education, or no need. But this is costing [...]
With the school year coming to a close, now is a great time to apply for a few more scholarships before college starts up in the fall. College and college-bound children of military members are invited to apply for $1,000 scholarships through Homefront America’s American Patriot Freedom Scholarship Program. A total of twenty-five scholarships will [...]
Certain Ohio residents are eligible for great mortgage rates for first time home buyers. The Ohio Heroes Program is a new first time home buyer program that aims to help Ohio residents in certain professions qualify for a 30-year, fixed rate mortgage.
These loans are made through the Ohio Housing Finance Agency (OHFA) and are available [...]
The military budget has gone through a lot of changes in the last few years. The ongoing War on Terror has stretched the budget thin, to the point of almost breaking. Each service needs an influx of billions of dollars to restock and refurbish their equipment and supply the ongoing war efforts.
But how much of [...]
The GI Bill is one of the most valuable benefits that most veterans are able to take with them when they leave military service and transition into civilian life. The value of a college education vs. not having a college education can be well over a million dollars throughout the course of a lifetime. Using [...]
Congratulations to all military retirees in the State of Ohio! Veterans who receive military pensions no longer will have state income taxes taken from their monthly retirement checks.
On 20 Dec 2007, Ohio Governor Ted Strickland signed legislation that exempts military pensions from state income tax. House Bill 372 allows tax exemption of military retirement pay, along [...]
MSN and CNN both report about the rise in retention bonuses being paid to troops to maintain force strength. The military is having a hard time keeping its personnel numbers at high enough levels to sustain current operations. The hardest hit are the Army and Marines as many troops are getting out due to the [...]
A bill was recently introduced to the House of Representatives that would exempt all active duty military pay and benefits from federal taxes. Read the full text of the bill.
Rep. John Culberson, R-Texas, is the chief sponsor of the bill, HR 1559, which is being called Armed Forces Tax Relief Act.
Culberson said the the Armed [...]
