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Va Foreclosure Article
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Learning About A VA Home Foreclosure
from:Buying your first (or second) home is one of the most exciting things we do in our lives. From the time we become adults or get married, buying a home is usually first on our list of what we want to do in our lives. When we finally are able to make that large purchase, we think we're set for life and have a home to grow old in. Unfortunately, many people are not able to continue making the mortgage payments and lose their homes to foreclosure. These homes are usually put up for sale at an auction and sold to the highest bidder. Another type of foreclosure is a VA home foreclosure. When a Veteran puts a home with the help of the Department of Veterans Affairs (VA), a bank or lender gives the loan, but the VA guarantees the loan.
Unfortunately, even with the guarantee given by the VA, many Veterans still cannot keep their home and it ends up in a VA home foreclosure. When these foreclosed government homes are put up for sale, they are an excellent opportunity for a prospective homeowner to get a home at a bargain price. For years, people have been getting bargain homes by purchasing homes in foreclosure. Although there are not as many VA home foreclosures as HUD homes or traditional mortgaged homes, there are still many of them available. If you are looking for a bargain home, a VA home foreclosure may be the perfect opportunity for you to finally get your dream home.
Many real estate agencies carry VA home foreclosures for sale. They usually offer the home for sale for a certain period, often called the "Simultaneous Offer Period". During this period, all bids that come in on the home are considered as coming in at the same time, or simultaneously. At the end of this time, all the bids are reviewed to see if they've met the criteria set by the VA. If they have not been met, the home will continue to be for sale.
If the VA does not accept your bid, they will make a counter offer just like any other seller. A few things to remember are that the VA will not make repairs on the home and they are sold "as is". In some cases, the VA will help with financing of the foreclosed VA home through a program called VA Vendee Financing. This program is available for non-Veterans as well as Veterans. This is a great opportunity to obtain a home at a bargain price. Contact your local VA office for a listing of VA home foreclosures in your area or do a search online. There are many of them out there.
Va Foreclosure Specific links
Va Foreclosure News
VA Seeing Spike In Homeless Vets With Families - New Haven Independent
 New Haven Independent | VA Seeing Spike In Homeless Vets With Families New Haven Independent Former teachers with master's degrees who have a six-year-old son, they have lost a house to foreclosure and were evicted from an apartment for falling behind on rent. Last year, the family spent six months living in a New Haven homeless shelter. |
Running Robo-Settlement Numbers - CNBC.com
 Los Angeles Times | Running Robo-Settlement Numbers CNBC.com A potential $25 billion settlement between the nation's four largest banks and the 50 state attorneys general over faulty foreclosure processing is imminent. Or at least it's closer than it's been, given that we are now well over a year into the ... Business, Government , Legal News from Throughout W.Va.Key states move closer ... |
Select Your Real Estate Agent Carefully in Today's Market - MarketWatch (press release)
Select Your Real Estate Agent Carefully in Today's Market MarketWatch (press release) Many properties in the Virginia real estate market have lost value over the last two years, and sellers are faced with the prospect of short sale or foreclosure. Elaine VonCannon, a REALTOR with Coldwell Banker Traditions in Williamsburg, is providing ... |
Mortgage Market Shows Year of Low Foreclosure Rates and High Loan Volume Cap - LoanSafe
 PR Web | Mortgage Market Shows Year of Low Foreclosure Rates and High Loan Volume Cap LoanSafe Last year, VA helped 72391 Veterans and Servicemembers who were in default on their mortgage loan retain their homes or avoid foreclosure, an increase from 66030 from the prior year. At the same time, foreclosures on VA guaranteed loans dropped by 28 ... VA's Home Loan Program Continues to Lead Mortgage Industry |
Mortgage fraud unit co-chair sues biggest banks - USA TODAY
 USA TODAY | Mortgage fraud unit co-chair sues biggest banks USA TODAY By Michael Gormley, AP ALBANY, New York – New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures while ... |