VLB _ Fortified Land Sales To Vets!

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Early in its history, Texas gave land to land to military veterans in recognition for their service. However, as public land became more scarce and more valuable, it became more difficult to simply give away the land. As a result, the return of WWII veterans prompted Legislature to create the Texas Veterans Land Board (VLB) to continue to the tradition of rewarding Texas veterans for their service by providing them with low-rate interest loans to buy land.  Since its inception, more than 120,000 Texas veterans have taken advantage of the self-supporting loan program. The loans in the program are funded through the issuance of bonds and the recycling of loan repayments and investment earnings. Loan repayments and investment earnings are also used to pay the debtservice on outstanding bonds. No general revenue funds are appropriated for the program. Occasionally, Texas veterans are unable to make payments on their Veterans Land Board (VLB) Loans. In such instances, the VLB then resells the forfeited land as either Type I or Type II tracts. The Veterans Land Board is currently selling Type II tracts at a 25% discount. The tracts are sold on a first-come, first-served basis. Both veterans and non-veterans may purchase Type II tracks. However, only qualified Texas veterans may be eligible for VLB financing. Search for a Type II tract by region or county. Interested parties should act soon, because sales prices are good through October 31, 2011.

For more information about the Veterans Land Board’s Forfeited Land sales, please visit: http://www.glo.texas.gov/vlb/veterans-benefits/forfeited-land-sales/inde...

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Govt - State