VA owes disabled veterans refunds on home loan fees, report says

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The VA’s Office of the Inspector General (OIG) released a report showing that $286.4 million in home loan fees were wrongly charged to about 72,900 disabled veterans who, because they are entitled to disability benefits, also are exempt from paying the fees.

The American Legion’s TBI/PTSD Committee and the National Veterans Affairs & Rehabilitation Commission recently released The Road Home, a report of developments. The booklet rounds out three.

Thousands of veterans are owed refunds, the IG says.. problem that resulted in erroneous funding fee charges, the report found.. General Finds VA Overcharged Disabled Vets on Home Loans;

For any funding fee refund issued on or after July 1, 2019, VA is to pay the refund directly to the Veteran, regardless of the loan balance. Prior to July 1, 2019, a provision in VA Pamphlet 26-7, Chapter 8, Topic 8, directed lenders to apply funding fee refunds to an outstanding loan balance in cases where Veterans had financed the funding fee.

United States that disability severance pay for personal injury from active service was excludable from taxable income if the separating member was later awarded VA compensation for the same.

Tampa, FL (Law Firm Newswire) July 23, 2019 – The Department of Veterans Affairs (VA) owes refunds to thousands of disabled veterans who were erroneously charged fees when they applied for home loans.A watchdog investigation found that veterans who bought homes under the VA’s home loan guaranty program could be owed up to $190 million.

The federal government owes at least $189 million to 53,000 disabled veterans who overpaid on their home loans, according to the Department of Veterans Affairs’ inspector general. When veterans take out a mortgage, they pay a funding fee to the lender that usually costs several thousand dollars.

For years, disabled veterans were mistakenly charged fees when taking out home loans and the federal government now owes millions of dollars in refunds, a watchdog report revealed this week. The.

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The Department of Veterans Affairs owes about $189 million to 53,000 disabled veterans who were charged home loan fees they were exempt from having to pay, an investigation has found. These veterans were charged the fees under the VA’s Home Loan Guaranty Program and now may be entitled to refunds ranging from $5,000 to $20,000, a VA Inspector General audit released thursday found.

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