Posted by Ben on January 18, 1999 at 17:33:58:
The best place to start is notenetwork.com.
Is Military Retirement Marketable? - Posted by Hector
Posted by Hector on January 18, 1999 at 10:10:05:
Over the weekend, I had the pleasure of having lunch with an old high school buddy who left to join the Air Force three weeks after we graduated from high school. He recently retired and during lunch we got to talking about CRE investing and he sounded interested. He said he went through a divorce last year, filed bankrupcy, has no job and has a $300 a month child support payment to make. But, the one thing he does have which no one can take away is a $1500 monthly pension. He said he realizes that he doesn’t have the credit to buy houses but would a mortgage broker or any other money lender lend him cash using his pension and/or term life insurance as collateral. I had no idea what to tell him but I did tell him about this news group and that someone might have an answer. To me, a $1500 cash flow is definately an asset but would it count toward giving him a loan?
Re: Is Military Retirement Marketable? - Posted by Dave T
Posted by Dave T on January 18, 1999 at 18:58:59:
Military retirement pension is income. When verified, it can be used to qualify for a loan. Term life insurance has no cash value and therefore does not contribute to net worth.
Re: Is Military Retirement Marketable? - Posted by Bud Branstetter
Posted by Bud Branstetter on January 18, 1999 at 11:49:03:
It would not be a loan but there are people that buy any type of cash flow including military pensions. as long as you were talking about CRE investing why do you need your own cash. That’s the easy way.
Re: Is Military Retirement Marketable? - Posted by Irwin
Posted by Irwin on January 18, 1999 at 20:11:49:
This is an unresearched wild guess, but I seriously doubt that military pensions are assignable. There woudl be a teriffic public policy argument against such a thing, whereby veterans could be hoodwinked, swindled, extorted etc…out of their money. I’m sure congress has shut off this possibility. I agree that it would be considered income for the purpose of qualifying for a loan, and that’s about it.