Comments on: Do you know anything about VA home loans?

By: acermill

acermill — Thu, 02 Oct 2008 06:08:10 +0000

There’s more to this story than what you are posting here. Under law, a lender cannot even report you as LATE within the first sixty days of purchasing/selling a loan.

Lenders don’t start foreclosing on ‘late payments’. They only initiate foreclosure when there is NO payment.

Either you are giving us half the story, or your family friend isn’t telling YOU everything.

By: Etta P

Etta P — Thu, 02 Oct 2008 05:52:55 +0000

I am so sorry to hear this kind of thing happening to our veterans that served our country. It is horrible and I am very sad for you. I reviewed the guidelines and according to the VA regulations regarding entitlements for home loans it does not appear that your family member would be able to get another VA home loan. It would be a good idea to contact the Veterans Administration directly and inquire about obtaining another “certificate of eligibility”, especially if there is no outstanding deficit judgment. Hope this helps!
FYI: if veterans have financial problems they can call the VA for help prior to the act of foreclosure or bankruptcy. See the below website and let any other veterans they can call for help, they are not alone!

By: Tmabel

Tmabel — Tue, 30 Sep 2008 10:41:11 +0000

She can qualify for the VA loan again only if she is a vetern. She would need to get a certificate of eligibilty and she would still need to qualify for a mortgage based on credit and income.

By: nitroproperty

nitroproperty — Mon, 29 Sep 2008 15:00:03 +0000

My first question is, WHY WOULD SHE WANT TO? There are so many programs out there that may be a better fit. Do some research and find a local banker or broker that can help.