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Buying a home while on Rehab Program/IRB??

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Buying a home while on Rehab Program/IRB?? Empty Re: Buying a home while on Rehab Program/IRB??

Post by 308vet_smith Thu 20 Aug 2020, 12:01

cookie2007 wrote:My husbands DEC app was submitted mid June- and we received notification that he was approved DEC on Monday August 17th. Took about 2 months from when report was submitted.
Hope yours goes fast as well.

Thanks, I hope so too. DEC is never a good thing for us vets struggling to get better but its a financial burden off our shoulders for sure...
I hope this can bring some financial stability for the both of you, take care now

308vet_smith
CSAT Member

Number of posts : 4
Location : Canada
Registration date : 2020-02-20

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Post by cookie2007 Wed 19 Aug 2020, 12:42

My husbands DEC app was submitted mid June- and we received notification that he was approved DEC on Monday August 17th. Took about 2 months from when report was submitted.
Hope yours goes fast as well.

cookie2007
CSAT Member

Number of posts : 17
Location : Ontario
Registration date : 2020-08-19

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Post by Unknown Soldier Wed 15 Jul 2020, 15:30

308vet_smith wrote:Hey all, I've been looking to buy a home far from the city. I've come to a conclution that I officially hate the GTA and cant live here anymore; traffic, theft, crime and arrogance dont help my PTSD and Im looking to move as far away as possible. I prefer buying a cheap property where my monthly payments would end up being cheaper than rent in the city anyways.
I've been curious to know if a veteran receiving Income Replacement Benefit can qualify for a mortgage. Would VAC even provide some sort of support for financial approval or would this be looked as not legit?
Im currently receinvig Pain and Suffering + Income Replacement Benefit. As suggested by my CM I've put in a request for DEC but who knows how long this will take until VAC makes a decision.
Has anyone on here ever gone through this process or know anyone who has while on the Rehab Program/IRB?
Any help/advice is appreciated...
I’m hearing the wait for DEC hearings are over a year with no guarantee the vet will be granted IRB for life, it would be quite the gamble buying a home on the premise you will receive DEC. No one can live someone else’s life, but if l we’re you I’d find whatever coping mechanisms I could to stay put until after the DEC board, or you may find yourself out of the frying pan and into the fire.
Unknown Soldier
Unknown Soldier
CSAT Member

Number of posts : 503
Location : MIR
Registration date : 2019-05-15

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Post by bigrex Wed 15 Jul 2020, 00:38

Honesty, it would really help if you could wait until you get the DEC approval, because then you could prove that the IRB is not going to be cancelled in a month or two. One thing though, when you do apply, make sure that you point out what amounts are tax free, because their calculations are based off gross income. So they will add 30% to those amounts, to account for presumptive taxes. It will drastically change how much of a mortgage you could qualify for.
bigrex
bigrex
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Number of posts : 4061
Location : Halifax, Nova Scotia
Registration date : 2008-09-18

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Post by 308vet_smith Tue 14 Jul 2020, 23:25

Hey all, I've been looking to buy a home far from the city. I've come to a conclution that I officially hate the GTA and cant live here anymore; traffic, theft, crime and arrogance dont help my PTSD and Im looking to move as far away as possible. I prefer buying a cheap property where my monthly payments would end up being cheaper than rent in the city anyways.
I've been curious to know if a veteran receiving Income Replacement Benefit can qualify for a mortgage. Would VAC even provide some sort of support for financial approval or would this be looked as not legit?
Im currently receinvig Pain and Suffering + Income Replacement Benefit. As suggested by my CM I've put in a request for DEC but who knows how long this will take until VAC makes a decision.
Has anyone on here ever gone through this process or know anyone who has while on the Rehab Program/IRB?
Any help/advice is appreciated...


Last edited by 308vet_smith on Wed 15 Jul 2020, 06:18; edited 1 time in total

308vet_smith
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Number of posts : 4
Location : Canada
Registration date : 2020-02-20

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