VA Home Loan EBenefits - Why Your Home Loan EBenefits Are Expired and How to Recover Them

In order to help those struggling with a VA home loan, most lenders require an upfront "debt relief fee" from the borrower. That fee is very small for a monthly payment that is so small in relation to your total monthly income. And the most expensive VA home loan eBenefits that can be claimed may be the processing of this home loan eBenefits fee.

The home loan eBenefits fee that you have to pay if you have filed for a VA home loan are not disclosed to you in writing. But if you ask your lender, you will most likely learn that the amount is as high as $500.

How do you know if you have filed for home loan eBenefits? When you apply for a new loan, the lender will ask you to complete and sign a mandatory paper form for home loan eBenefits. Unfortunately, it does not indicate what your VA home loan eBenefits will be or how much they will be.

If you expect a refund for your home loan eBenefits, be sure to inform your lender before the loan is processed. Otherwise, the fee could be rejected. Your lender will most likely use this as a reason to deny your request.

But what if you received home loan eBenefits for your first loan? Don't despair because there is still a way to get your money back.

Some lenders require that you obtain a guarantee from them in the event that you cannot pay your monthly payment. This is referred to as a fee of surrender. Do you think the bank will risk your application without such a guarantee? Of course not.

There is another way to obtain your home loan eBenefits back and that is to find a person or company that offers an income verification service for you. An income verification service basically verifies your income to ensure that your VA home loan eBenefits are legitimate. When you go through this process, the lender needs to provide proof of your income and, therefore, of your eligibility for the home loan eBenefits.

Because you are dealing with a third party company, you will not be required to provide the exact amount of your eBenefits, but you will be required to provide enough information for the lender to make a determination about your eligibility. So in some cases, you may receive more than the amount of your eBenefits.

You will be asked to provide additional personal information such as your social security number, date of birth, and driver's license number. You will also be asked to provide verification of your income such as annual gross income, bank statements, and tax returns.

What if you don't qualify for an income verification service? If this applies to you, there is still a way to recover the amount of your eBenefits.

You may want to consult with your borrower's lawyer. Your lawyer will be able to inform you of your rights. He or she will also be able to help you determine the options available to you.

Before you proceed with the process of recovering your home loan eBenefits, be sure to take a look at the documents that are attached to your account. Most importantly, you must have written authorization to recover your eBenefits.