Texas Military Vets Have an Array of Loans Available

Since 1946, the Texas Land Board has been offering great benefits, in the form of below market loans for purchasing land, houses, and even home improvements, exclusively to Texas military veterans. In addition to these offers, the Board also offers retirement homes and cemeteries with dignified, specialized care, as well as a full array of amenities to those Texans who have helped to keep America, and Texas, safe and free.

In 1836, when Texas declared its independence from Mexico, and many Texans fought to insure this freedom, the state sought to reward those who sacrificed so much for the nascent republic. Unfortunately, as a newly-formed entity, Texas was not yet wealthy, and had little means at its disposal. So poor was the republic, that it didn't even have enough money to pay its soldiers. Although short of cash, there was one resource in which Texas was extremely wealthy: land. Thus, the Texas Land Board was created to grant land in lieu of cash payment.

Over the years, as the amount of public land has decreased, the system has been adjusted to still assist Texas military veterans, all the while keeping up with modern times. In 1946, soldiers returning from the WWII were greeted with the creation of the Texas Veterans Land Board, which remains an updated version of the original. Since there was a shortage of land and Texas, at this point, was fairly well-developed, the Veterans Land Board offered below market loans that would allow vets to purchase land. In the 1980s, the plan was further adjusted to allow for loans to be given to purchase houses and even make home improvements.

It is safe to say that the program has been a resounding success. Last year, the program lent $1 billion, and reports indicate that every dollar lent results in six dollars for the local economy in the form of real estate, construction, materials, and labor. Perhaps the best part is that the taxpayers pay nothing to keep this program alive, as it is self-funded and self-sustaining, and the vets who use it are some of the most dependable and responsible members of the community. Although over 180,000 Texas veterans have taken advantage of this program, nearly 1.5 million have not.

The plan is continually being updated, changed, and modified to insure that Texas vets will always receive the best benefits package in the nation. The past few years have certainly seen quite a few improvements across the board. For example, the land loans project has not only dropped its minimum land purchase amount from 5 acres to 1, but has also raised the loan amount from $40,000 to $60,000. The home loan project has raised its maximum loan amount from $240,000 to $325,000 and also offers a 15 or 30 year term, which can be used with other loans, such as VA, FHA, or conventional loans. The Texas Veterans Land Board's home improvement loans have a maximum of $25,000 on a 25-year note, and all of these loans can be used more than once, if the original has been paid in full.

Elderly vets also have another option at their disposal in the form of Texas State Veterans Homes, which offer first rate accommodations with specialized nursing care at much lower rates than private care. These homes are available, not only for vets, but for their loved ones as well. Currently, there are homes in El Paso, McAllen, Big Spring, Bonham, Temple, and Floresville, with one opening in Amarillo this year, and others planned.

For those veterans who have passed on, the program also offers them a peaceful and dignified final resting place in the Texas State Veterans Cemeteries. These cemeteries are fully modern, offering all the amenities and services that Texas veterans deserve. Currently, there are two such facilities - the first opened in Killeen in January 2006, and the second in Mission later that year. The Land Board also is planning on unveiling more of these in the upcoming years.

The Texas Veterans Land Board is a win-win-win situation for the entire state of Texas. In addition to assisting veterans to be able to afford quality housing; the benefits to the state itself are many. By injecting money into local economies across the state, the plan insures building and development will continue, communities will benefit from having the leadership and stability of veterans around, and all of this comes as absolutely no burden to the taxpayers of the state. By offering these below market loans, but also at a longer term, the number of defaults is lessened, which should mean that the program, started with the founding of our great state, will remain in place for many more years.

Vets interested in learning more about the loan rates, and getting more information, can call 1-800-252-VETS from M-F 7:30 AM-6:00 PM, or log onto www.texasveterans.com.

Short sale and foreclosure rates are at an all-time high in the housingmarket.Many have found themselves unable to make their mortgage payments and lenders are taking action to recoup their losses. This potentially means good deals are out there, but you should also be aware
of the ramifications of purchasing a foreclosure or a short sale.

It's imperative that you prepare for the process and are flexible since it takes longer than a normal purchase. It's also important to choose an agent that has experience in these kinds of listings who can guide you through every step as seamlessly as possible. You may also want to speak to a real estate attorney to determine the potential drawbacks.

Although foreclosed homes are oftenpriced much lower than regular listings, there are some things you should look out for. Foreclosed homes are often sold "as is." You will be able to have the house inspected before you buy it; however, the bank will not be required to make any necessary repairs. It will be up to you to pay for the inspection and to decide if you should continue with the purchase of the property thereafter.

Any people think another option for a good deal is a short sale, meaning the homeowner is negotiating with the bank to be able to sell the house for less than what is owed on the mortgage. Homeowners who find themselves buried by overwhelming mortgage payments may choose this alternative over foreclosure to avoid bankruptcy and destroying their credit. However, short sales are a notoriously lengthy process, rendering any prospective buyer unable to write a contract on any other home for what could be weeks or months. If you are not restricted to a lease termination, a short sale may be an alternative for you.

With either type of transaction, keep your budget and time constraints in mind when considering the offer. The price may be great, but the possible issues with purchasing an "as is" property may cost you more in the long run.

Courtesy of Navy Federal Credit Union (navyfederal.org)

The original vision for the Trans-Texas Corridor Plan (TTC), called for a corridor of up to 1,200 feet in width that would allow for several modes of transportation in addition to utility transmission facilities. Since the concept was publicly introduced in 2002, communities along the TTC-35 and I-69/TTC study areas have frequently voiced concerns over the corridor width, and viewed the idea as a one-size-fits-all concept, inappropriate for a state as diverse as Texas.

"Texans have spoken, and we've been listening," said Texas Department of Transportation (TxDOT) Executive Director Amadeo Saenz. "Citizens across the state have had good ideas about how Texas roads can better serve Texas communities. I believe this transformed vision for the TTC and other major corridor development goes a long way toward addressing the concerns we've heard over the past several years."

Since its unveiling, Governor Perry’s ambitious plan would have cost 100's of billions of dollars and would have been one of the biggest government land grabs in history. Condemming thousand upon thousand of privately owned acres to become the TTC. The TTC plan would have engulfed hundreds of miles along I-35 from Laredo to Oklahoma and from Houston's IH69.

Although, the ideas of major corridors across Texas are not entirely gone, major corridor projects will now only be comprised of several small segments closer to 600 feet wide and will no longer be called the Trans-Texas Corridor.

For more complete information visit www.txdot.gov

Buying a piece of America isn't just the American dream, now it is what smart Europeans are doing, too. Strong Euro against the weak US dollar makes investing in the United States by overseas investors a quite smart and potentially profitable choice.

One of the quickest ways that an investor can increase his or her wealth involves owning real estate. This is particularly the case when it comes to European investors, especially if they are looking to invest in U.S. real estate. There are numerous advantages to choosing the United States over other countries for investing purposes. One main reason is because the U.S. dollar is weak compared to the Euro. This allows the European investor to leverage the purchase of real estate at prices that are tens of thousands less than what an American could make the same purchase for.

However, not all real estate in the United States is prime for investment purposes. For example, areas in California, Florida and parts of the Northeast United States have somewhat considerably inflated real estate prices. These properties might be too expensive for an ordinary European investor. This is why it is better that Europeans ought to be considering alternatives that are more reasonably priced, though even then they should be careful. Inexpensive options for real estate are not effective if they are in areas that are not capable of increasing in value over time. Instead, the real estate will just remain on the market for much longer, as the investor will have to struggle to find a person who is willing to buy.

So, what would be a very good solution for overseas investors? Investors who want to be successful need to find an area within the United States that is both reasonably priced and has a moderate cost of living. With this winning combination, investors will be able to purchase into something that they can afford while still being allowed the opportunity to make a decent profit in a reasonable amount of time. If investors are unfamiliar as to which U.S. cities fits such a set of criteria, one of the greatest places to begin a search is in San Antonio, Texas, due to the reasonable cost of living.

More High-Tech Jobs Coming to San Antonio

San Antonio’s high tech sector is rapidly growing.  So much so, that the demand for qualified employees is outstripping the supply.  It’s no secret that many high-tech companies are moving into the city, but some, such as Rackspace, who have plans for growth, are having a hard time competing with other companies for their workers.  This is certainly a good sign for area graduates or soon-to-be-graduates with computer science degrees, and for others as well.