Va Home Loan Lender

Francis Said:

anyone do a FHA or VA home loan?

We Answered:

you are very correct! Peeling paint, issues with siding and lack of railings are the biggest issues. Electrical outlets must be grounded or gfi's installed> termites is another biggy!
Usually easy fixes, just make sure it is done before the appraisal in conducted.
Good Luck!

Patsy Said:

VA Home Loan Assumption?

We Answered:

See here: http://www.valoans.com/va_article.cfm?id…

Teresa Said:

What is a wellness letter requested by the lender for VA home loans?

We Answered:

I am Joy Anderson i was in need of a loan of $100 000 USD and was scammed by those fraudulent lenders and a friend introduce me to Mr John clarke,and he lend me the loan without any stress,you can contact him at clarkeloanscompany12@yahoo.com

Jane Said:

If I short sale on a VA home loan and the VA covers the rest of the payoff will it effect my credit?

We Answered:

First of all, you can not do a short sale unless the mortgage holder agrees to it. The VA home loan only covers you if you were to '"default" and go into foreclosure. Then the VA would cover some of the loss. If you wish to sell your property, but the net proceeds from the sale won’t pay off your loan and you can’t afford to pay the shortage, the VA may allow you to sell your home without paying the entire amount due. You’ll need to complete a Financial Analysis Form and send the VA a letter requesting a short sale.
They (the VA) would also start taking deductions of any VA comp you are receiving if you are getting disability benefits if they have to actually pay anything to the mortgage company.

Your best bet is to get another veteran to buy the house, is your VA mortgage assumable (some Realtors forget to have that included in the deed.)

The effect of a short sale on a seller's credit report is identical to that of a foreclosure. The ding on credit will show up as a foreclosure in redemption status, which will result in a loss of 200 to 300 points. This means a short sale with a previous FICO of 720 will see it fall from 520 to 420.

Hope this answer is of help to you
LEGAL DISCLAIMER: The answer provided here is intended for informational purposes only. It is not intended nor presumed to be legal counsel or professional legal advice

Bernice Said:

Does my spouse have to be on a VA home loan in CA?

We Answered:

They require it in the CA I live in, I do not know which the LoanMaster is talking about.

Because your wife's creditors can lien the property she has to pass the check and be acceptable to the bank.

Maybe not VA, but the lien laws all apply, so I would think the VA part would not make a difference.

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