May
5
mike slick rick asked:
I had a VA loan to foreclose about 7 years ago in North Carolina. The property that foreclosed was worth about $72,000 which was about what I owed on my VA mortage. I think my same foreclosed property was sold for about $72,000. I think the VA didn’t lose money or if they did it was less than $7,000. Am I able to get another VA loan today being that I had a foreclosure in the past?
Minnie
I had a VA loan to foreclose about 7 years ago in North Carolina. The property that foreclosed was worth about $72,000 which was about what I owed on my VA mortage. I think my same foreclosed property was sold for about $72,000. I think the VA didn’t lose money or if they did it was less than $7,000. Am I able to get another VA loan today being that I had a foreclosure in the past?
Minnie
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One Response to “My 1st VA loan foreclosed 7 years ago?”
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Amanda
Look online at the VA or give the local office a call. Actually, the VA only guarantees that you will be a good risk due to the fact that you were military at one time.
Generally, if a house is foreclosed, the mortgage company is just happy to get their money out of it. Anything above that amount is given back to the original owner. The mortgage company doesn’t stand a chance to gain from it.