ARCHIVED BLOG POSTS
2012
A reader left us a comment recently about purchasing homes that have been previously owned (as opposed to buying a new construction property with a VA mortgage). He writes, “… there are too many possible issues with a house 15 years or older, VA will not allow you the loan because of issues with ...
03/20/2012
2
Comments
In order for VA loan applicants to be approved for a VA insured mortgage, they must first establish eligibility with the Department of Veterans Affairs. This is required so that the VA can verify the borrower has met requirements including time in service, and other factors. Once a borrower’s eli...
03/19/2012
3
Comments
We get a variety of questions about VA insured mortgages. We’re always happy to answer these questions in the reader comment section, and often as longer posts here where appropriate. Some of the most frequently asked questions about VA loans include queries about the nature of the loan program ...
03/18/2012
This week we’ve received a variety of reader comments and questions about credit, delinquency, money troubles, and more. One reader writes, “I am a disabled veteran, retired US Army. Are there any programs available to Veterans to consolidate credit cards and lower interest rates? Grants?” Anoth...
03/15/2012
0
Comments
Since we’ve had reader questions recently on VA loan benefits for disabled veterans, it seemed like a good time to review those benefits. Did you know qualifying borrowers with VA-recognized disabilities may be eligible for special consideration for VA insured mortgages? Disabled vets who receive...
03/14/2012
A reader asks, “We filed bankruptcy in 2010 due to medical bills. Both of us are on Social Security Disability. How does this affect our eligibility? Does the VA loan money to remodel a home to better fit our physical limitations?” When a VA borrower files bankruptcy there is a minimum two-year ...
03/14/2012
“I moved from the Seattle area to Albuquerque, New Mexico, 5 years ago, and was using my VA loan (with my 100% VA disability rating) to purchase a house. My financer said that NM did not pay VA closing costs on initial purchases, but only did that on refinancing. I thought this strange, as I have...
03/13/2012
A reader asks; “I currently owe an FHA loan at a ridiculously high 7% interest. I foreclosed another property in June, 2010. I was told that I have to wait 3 years from June, 2010 before I could refinance the loan.” “I was also told that under VA guidelines, I only have to wait two years. I am a ...
03/13/2012
A reader asks about a previously owned home up for sale with some work missing. “…(T)he last owner left the master bathroom unfinished, floor and wall tiles missing, sink, cabinet and toilet not installed but everything is in a closet including the tiles.” “It is an approved short sale for less t...
03/12/2012
With recent headlines announcing discrimination charges filed against major lenders, landmark foreclosure settlements and other actions taken on behalf of consumers and home buyers, it seems like a good time to review important resources VA loan applicants should know about in order to be fully e...
03/12/2012
Rainmaker
475,198
475,198
Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide