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The company that my husband works for is going bankrupt. He should be out of the job in a matter of a few months. My husband has applied for many jobs in our area with no luck. We have two children we need to think about so my husband and I decided it would be best if he rejoined the Marine Corps (he was previously in the marines 2001 through 2005) This would solve all of our problems except that the base we will be moving to is across the country. We put our house up for rent but we can find anyone to rent the house for what our monthly payment is. We are considering letting our house go back to the bank. Our loan is a VA loan, is there anyway that the VA can help? Do we have any other options? What are the consequences in letting our house go into foreclosure?

Yes you do have other options! Call The VA with your closing documents handy! They will bend over backwards to help you avoid foreclosure in various ways because they have a stake in your success to avoid foreclosure. Good Luck and congrats on keeping your wits during this stressful time.

I received my ch. 7 discharge June 1, 2010. I was discharged from a foreclosure on a VA Home Loan. Can I get an FHA loan after 2-3 years of rebuilding my credit?

A bankruptcy really drags down your FICO (credit) score and stays on the credit report for 10-14 years. If you open up several lines of credit including possibly on 2 or more small secured credit cards, then it might be possible in 3-5 years. Always pay those credit cards in full at the end of the month. But man, you got to keep your nose clean, no 30 days lates, or delinquent rents or any other court judgments. Good luck.

If I find a VA foreclosure being a veteran myself would I still need to go through a lender or can I just go through the VA to take over the loan to acquire the home? Any help or advice would be appreciated.
I noticed that the VA has a website that list homes that have been foreclosed on that were bought using the VA home loan program, thought maybe I could just go through them but your answers prove other wise so I thank you all for taking the time to answer.

Not real sure of your question. Here are various situations that might match what you are asking about.

1. Veteran with a VA loan is selling the home. You assume his loan without substitution of VA benefits. You get the home and the VA loan but it is HIS VA loan that is tied up. Until you refinance the home with a new loan, he can not use his VA loan to buy another home. Bad for him, good for you.

2. Veteran with a VA loan is selling the home. You assume the loan and substitute your VA benefit for his. You get the home and the VA loan and he can once again use his VA loan to buy another home. Your VA loan entitlement is now tied up and he can go use his again. Good for both of you assuming the interest rate he was paying was a good one.

3. Veteran with a VA loan has the home foreclosed on him. The house is now just like any other house. Anyone can buy it. You have no particular right as veteran to "assume his loan" and take over the home. Once someone else buys the home, he can use the VA loan once again to buy another home.

There is only one instance where things might be as you describe. You buy a home with a VA loan. Then you let someone else take over the loan without substitution of the VA benefit. The guy who takes over the home fails to make payments and the house goes into foreclosure. The VA will contact you since your name is on the VA loan as the person using the benefit. You will be given the opportunity to make good on the payments, in which case you once again assume responsibility for the loan and you get the house.

Right now I see absolutely NO benefit of taking over an older loan. You can get far lower interest rates right now on a new loan so that is the way I would go. For example, you can find 15 year fixed rate loans for less than 4% right now. Why would you want to assume a 30 year fixed rate loan at 5%? It would be a bad decision.

The VA pays a commission to the buyer’s real estate agent. The buyer is not responsible for any commission payments.

I had a Veterans Loan foreclosed on 3-6 months ago and ended up filing bankruptcy (chapter 7) which will be discharged on 6-1-10. The court abandoned all interest from the government and my creditors through the bankruptcy. My reason for the foreclosure and bankruptcy was loss of a spouse’s job and medical expenses from a sick child. Will I be able to get another loan through FHA (Hud) with a foreclosure on a VA loan on my record since the loan was discharged through the bankruptcy court?

In 5-7 years, assuming you don’t screw any others.

How to prevent foreclosure presented by Rob Alley of Virginia Real Estate Solutions at Keller Williams Charlottesville

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SaabRealtorshttp://gdata.youtube.com/feeds/api/users/saabrealtors2070 Chain Bridge Rd., Suite G3, Vienna, VA 22182Peoplebank owned in va, dc, md, foreclosure, pre-foreclosure, stop foreclosure, foreclosure rescue, george saab, saab realtorsGeorge Saab, Specializing in Foreclosure Rescue – Short Sale – Bank Owned2009-11-16

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Xtreme Holdings, LLC is the most reliable Real Estate Investing company in the metropolitan area (MD, DC & VA), specializing in the acquisition of Short Sale properties, no matter the price range, condition or location. We offer a unique way of systematizing the Short Sale process from start to finish whether you have your house is listed with a Realtor or not.

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have VA backing, will we have trouble with financing due to the 3 yr old foreclosure?

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Http://www.infoGratisCasas.com Listados de casas reposeidas en Fairfax, VA. 703 929 3395

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