This petition is to allow the GI Bill to count as income for separating Veterans who are trying to purchase a home.
Situation:
Separating Veterans are choosing to go back to school, increasing their education, and thus, improving the workforce. When qualifying for a home loan, the GI Bill is considered "UNSTABLE income" and ineligible. The service member's(SM) current income is also ineligible, since it's now within 12 months of their separation date. So how do separating Veterans qualify to buy a home when they have "no income"??
Conclusion:
-NO LOANS QUALIFIED or APPROVED
-Veterans owning homes continues to decrease
-VA Home Loan doesn't matter, "no income" to qualify
-SM has a difficult transition, rents until after school
**SM must be a full-time student to receive GI Bill money