Remembering those who served on Memorial Day

While Memorial Day is a day to honor and remember those who have died selflessly in service to our country, it’s also an appropriate moment to bring awareness to a real estate matter that is impacting those who are still actively serving our country and veterans.

One of the benefits of having served is having access to VA Home Loans, which allow those who have served access to mortgages with no down payment required, and lower interest rates and closing costs. Unfortunately, a recent lawsuit settlement, which has changed how buyers’ agents are compensated, looked like it was going to cause veterans to choose between using a VA loan, or being able to work with a real estate agent to help them find a home and represent their interests.

Fortunately, after much concern was voiced by real estate agents on behalf of veterans, the VA has just agreed to allow veteran buyers to directly compensate their agents, allowing them to benefit from both a better loan and professional representation. Although it’s only a “temporary” fix, it’s a good start… 

There’s no way to entirely thank and compensate men and women who have served, but, as an industry, we’ve been actively working to ensure that their home-buying benefits are protected.