Snow Federal Retirement Seminars & ChFEBC℠, LLC.

“The Nation’s Premier Leader in Federal Employee Benefits Training For All US federal Employees and The Financial Professionals Who Advise Them”

Send your completed form to info@fedseminars.com if you are approved you will receive a payment invoice in 24 hours.

ChFEBC℠ Blog


By websitebuilder 22 Sep, 2022
This is not legal advice, and qualified legal counsel should be sought for any legal purpose. VA Mortgage Loan and Loan Assumption for Veterans. The VA recognizes life events occur and remain focused on meeting the needs of veterans during such times. Undoubtedly, it was not the intent for any veteran to be “forced” to forfeit an entitlement or benefit due to an unplanned circumstance. The VA mortgage Loan program is no exception. While a divorce may not be avoidable, alternatives are provided for the veteran to continue with the VA mortgage loan when their spouse is a non-spousal veteran (NVS). From the beginning of the VA mortgage loan process education and transparency is provided for both co-borrowers. Explanations and procedures are including in cases of default and removing a co-borrower. Likewise, continuous opportunities are made available through transactions as well as posted publicly for both parties to understand the program and its’ affects in different situations. More specifically, the VA Pamphlet 26-7, is provided to the parties and not only states a veteran can release a spouse from joint owners, joint borrowers in the event of a divorce, but the ways in how to accomplish such. The goal is always to protect the veteran’s benefit while acknowledging a NVS’ need for loan release of liability. Some alternatives include refinancing, but with restrictions from lenders as well as the VA. These options do not avoid refinance charges or other lender fees. In those instances, the terms of the loan will reflect the current housing and lending interest rates rather than original terms of a mortgage. They can create future financial burdens with increased fees, interest rates and payments. The simplest way to protect a veteran’s VA mortgage loan benefit is to utilize a “loan assumption” with a “release of liability” (ROL). A loan assumption is not the same as a refinance loan. It allows a veteran to maintain the original VA mortgage loan terms and conditions. The VA mortgage loan would be “assumed” by the veteran while a NVS would be released (ROL) as a joint owner/borrower. The VA loan assumption and NSV ROL appears to be the best strategy if it would burden a veteran with increased monthly payments. Prior to March 1, 1988, loan assumptions were automatic. Thereafter, loan assumptions are required to be requested through the lender and the VA for permission. In the event, a lender cannot provide permission for a loan assumption, a loan can be transferred to another lender who can. The first step required would be to secure a lender for loan assumption. Once acquired, the lender should begin their loan assumption process. Upon completion of the loan assumption, a ROL through the Regional Loan Center (RLC), Department of Veterans Affairs in the area should be filed. Keep in mind a ROL has specific language to be included for success. There is a prerequisite, however. Loan assumptions require a legally binding separation agreement or divorce decree. But a signed separation agreement by all parties based on the local laws and ordered by the court can often be used in lieu of the final divorce decree. This is ultimately the first step and would seemingly be arranged through a negotiation process. The VA has provided the VA loan assumption method specifically to preserve well deserved VA Loan Mortgage benefits for veterans. Divorce should not impede, terminate, or cause a burden to a veteran regardless of the circumstances. Please know your rights and advocate for yourself!
Show More

Why Work with a ChFEBC℠?

All federal employees should seek this designation when they plan for their financial wellbeing.

ChFEBC℠ means Chartered Federal Employee Benefits Consultant. A ChFEBC℠ has a thorough understanding of CSRS and FERS retirement annuities, the Thrift Savings Plan (TSP), Federal Employee Group Life Insurance (FEGLI) and other benefits that only federal government workers may have.

A ChFEBC℠ has devoted hours of course study and self-education to master federal benefits and their effective application. Different from other designations, a ChFEBC℠ must be retested annually. Things change and your advisor must be continually current. A ChFEBC℠ may have additional designations and registrations, but the ChFEBC℠ designation is unique to financial factors that affect only you. ChFEBC℠ study mitigates the steep learning curve that other advisors must conquer.

ChFEBC℠ requires highly specialized education in CSRS and FERS annuities and the different rules that apply to CSRS Offset and FERS Transferees, Special Provision FERS like air traffic controllers, law enforcement officers, reservists, and firefighters. This education extends to your FEGLI options, your FEHB (medical plan) options, the Thrift Savings Plan, long-term care, Social Security eligibility and choices, and to the individual concerns of survivor benefits and eligibility of children with special needs. A ChFEBC℠ training goes beyond facts, rules, and constructions. It includes discovering the right mix of information to guide your unique and personal circumstances. You, the federal employee, are the reason for all this learning. It must serve you and your needs, first and foremost.

It isn’t easy to be eligible to earn the ChFEBC℠ designation. First a professional must have a minimum of three years of experience in the financial industry, be a fiduciary and have a thorough knowledge of insurance, benefits planning, retirement planning, estate law, or personal accounting. Next there is a background review with FINRA (Financial Industry Regulatory Authority) and SEC (Securities Exchange Commission) to assure that our professional has the appropriate registrations. Any findings that prove questionable integrity become disqualifiers. The purpose of this extensive scrutiny is to assure that you receive objective guidance that is in your best interest. A ChFEBC℠ must earn and validate your trust and respect in every facet of the relationship. Snow Federal Retirement Seminars & ChFEBC℠, LLC enforces the highest integrity among the professionals we designate.

A general practitioner may be able to explain the need for a pacemaker, but a cardiac surgeon (a specialist) is the choice to implant one. If you have access to a Chartered Federal Employee Benefits Consultant, a ChFEBC℠, you have a specialist who is uniquely qualified to help you build and maintain your financial wellbeing. If you’d like our help to find a ChFEBC℠ local to you, contact us at www.fedseminars.com, info@fedseminars.com or 800-696-3505 or visit us at www.chfebc.com to locate a ChFEBC℠ designee by state.

Find a Chartered Federal Employee Benefits Consultant℠ Near You 

Click here
Shaking Hands — Elizabeth, CO —  Snow Federal Retirement Seminars & ChFEBC℠, LLC.

ChFEBC℠ of the Month

Jim Fenstermacher | Elizabeth, CO | Snow Federal Retirement Seminars & ChFEBC℠, LLC

Jim Fenstermacher

Jim Fenstermacher and his wife Mary Kate are lifelong residents of Pennsylvania. They have been married since 2006 and have four wonderful children (2 boys, 2 girls). Mary Kate has worked in Special Education for over 20 years. The Fenstermacher’s are heavily involved with club and recreational youth sports, are active parishioners of St Eleanor’s Catholic Church in Collegeville, PA and love the outdoors.

Mr. Fenstermacher is a fiduciary-based Financial and Retirement Advisor with 360 Investment & Retirement Advisory, proudly serving the greater Philadelphia area and beyond. Jim has his Series 6, 63, and 65 securities licenses, and the PA Health and Life Insurance license. Jim also holds licenses in numerous additional states across the country. Jim's primary focus is on helping federal employees better understand and maximize their retirement benefits, in order to create the individualized retirement plan they deserve. Along with serving the federal market, Jim also services clients from a wide variety of backgrounds, helping with their Retirement and Financial planning needs.

Jim previously worked as a Financial Advisor with Bankers Life Advisory Services, Bankers Life Securities, and CNO Financial prior to joining 360 IRA. Prior to that, he was an Independent Consultant, and a National Account Manager, where he worked with national brands as well as military bases across the USA. This experience, along with the strong relationships he built, led Jim to have a strong focus of his financial planning practice on directly helping military and federal families prepare and plan for retirement.

Share by: