With a new year comes changes to the housing market, as well as specific legislation that may impact the home buying process. As both a veteran and a mortgage broker in Colorado Springs, I want to ensure all other active duty and retired military members understand upcoming changes that may impact their lives. In the Summer of 2019, the President signed the Blue Water Navy Vietnam Veterans Act of 2019 into law. This act extends the presumption of herbicide exposure, such as Agent Orange, to veterans who served offshore in the war. If the new parameters of this act impact you, then you may be entitled to service benefits such as VA loans.
Quick Details About the Blue Water Navy Vietnam Veterans Act of 2019
Signed: June 25, 2019
Effective: January 1, 2020
Who It Impacts: Military members who served as far as 12 nautical miles from the shore of Vietnam or who served in the Korean Demilitarized Zone that may be impacted by the adverse effects of herbicide exposure.
What You May Be Entitled To: VA service benefits including those related to VA loans.
What is the Blue Water Navy Vietnam Veterans Act?
The BWN (Blue Water Navy) Vietnam Veterans act of 2019 adapted the parameters of the presumption of herbicide exposure to veterans who served in the offshore waters of the Republic of Vietnam between January 9, 1962 and May 7, 1975.
Do I Qualify for the Benefits of the Blue Water Navy Vietnam Veterans Act?
If you served within 12 nautical miles from the shore of the Republic of Vietnam or in the Korean Demilitarized zone between January 9th, 1962 and May 7, 1975 and suffer from a condition caused or made worse by the exposure of herbicides, then you may qualify for the benefits of the Act.
Conditions of Herbicide Exposure
There are 14 main conditions caused by herbicide exposure, such as Agent Orange. Agent Orange was used to clear forestry in the war and contact with the herbicide is believed to cause or worsen various medical conditions. If you suffer from any of the following, then it may be due to exposure during service:
- Chronic B-cell leukemia
- Hodgkin’s disease
- Multiple myeloma
- Non-Hodgkin’s lymphoma
- Prostate cancer
- Respiratory cancers
- Soft tissue sarcomas
- AL amyloidosis
- Diabetes mellitus type 2
- Ischemic heart disease
- Parkinson’s disease
- Peripheral neuropathy, early onset
- Porphyria cutanea tarda
If you suffer from any of these conditions or a medical concern that you believe is related to herbicide exposure, then you may be able to file a claim for disability and receive VA service benefits.
What Does This Mean for Veteran Home Buyers in Colorado Springs?
Veterans eligible for the benefits allocated under the Blue Water Navy Veterans Act of 2019 will now be able to receive mortgage benefit eligibility such as VA loans, potential eligibility for the Pikes Peak Heroes program, and the ability to refinance an existing home using a VA loan.
VA Loan Experts | The Reichert Mortgage Team
At The Reichert Mortgage Team in Colorado Springs, we strive to be the best VA home loan broker in the greater El Paso County area. With an abundance of resources available to educate veterans and active duty service members as well as an experienced team to serve members of the community, we are able to provide extensive knowledge to help others. Contact us to learn more about how we may help you reap the benefits of the new Act in 2020.