SAVANNAH, Ga.-Peach State FCU's Credit Union Financial Services Organization and Georgia CU Affiliates are working with charity Purple Heart Homes to make home ownership possible for disabled veterans who wouldn't otherwise qualify for mortgage loans.
Purple Heart Homes works with a variety of banks and municipalities to get foreclosed homes donated, then CUFS offers affordable financing to the veterans, whose low credit scores make it hard for them to get traditional financing in place.
Purple Heart Homes Co-Founder Dale Beatty explained that many times, those low credit scores are the result of backlogged paperwork at the Veterans Administration-the average wait time for VA benefits to kick in is 273 days-as opposed to any irresponsible financial activity by the veteran. So, in addition to helping the veteran purchase a home, the program also gives the veteran an opportunity to rebuild his or her credit, Beatty said.
