Veterans Pay High Cost as Lenders Drive Cash-Out Mortgage Loans

Veterans Pay High Cost as Lenders Drive Cash-Out Mortgage Loans

The VA is concerned about “subprime lending under a brand new title. ”

Eric Kandell, president of Minimal VA Prices.

Photographer: Cole Wilson for Bloomberg Businessweek

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Eric Kandell, president of Minimal VA Rates.

Eric Kandell is making their pitch to veterans. Using a t-shirt that is red aided by the terms “Low VA Rates” emblazoned across his chest, he appears healthy and muscular, as though he had stepped down an Army base himself. In this YouTube video clip among others, he informs present and service that is former how they may simply just just take tens and thousands of bucks in money from their domiciles. They could pay back bank cards, renovate a kitchen area, put in a pool that is swimming or happen to be vegas. “Do whatever you want, ” he informs them. “Imagine your property is like an ATM. ”

Kandell is focusing on borrowers from the U.S. Department of Veterans Affairs home loan system.

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