Bruce Reichstein's (brucereichstein) Blog

Follow me
By
Mortgage and Lending - www.OneTimeClose.com

ARCHIVED BLOG POSTS

2010 

In our last blog post I discussed why personal data protected by the Privacy Act is required in order to fill out VA home loan paperwork. The Department of Veterans Affairs and your lender require a Social Security number, an extensive list of credit history and residency information, plus detail...
11/30/2010
Whenever private information is required to take out a VA home loan, apply for credit or run a credit report, there will always be a segment of the population nervous about handing over personal information to the institutions that require it to do business. In the last two decades, sensitivity h...
11/29/2010
VA loans for new construction homes have different requirements than VA mortgages for existing construction purchases. In a troubled housing market, some lenders don't see as much demand for new construction loans, and in today's housing market some lenders have stopped issuing them altogether, w...
11/26/2010
VA borrowers who get into financial trouble and need lower mortgage payments have the option to refinance with a VA Interest Rate Reduction Refinancing Loan or VA Cash-Out Refinancing loan. In many cases even delinquent VA mortgages can be refinanced with a new VA home loan. In our last post on r...
11/25/2010
A cash-out refinancing loans can be used for a variety of purposes. Unlike the VA Interest Rate Reduction Refinancing Loan, cash-out refinancing lets the buyer get cash proceeds from the new loan, which the home owner can use for any approved purpose. But VA guaranteed cash-out refinancing loans ...
11/25/2010
One of the most important rules governing VA home loans is the Department of Veterans Affairs regulation about occupancy. For nearly all VA home loans, the VA requires the borrower to certify that the property purchased with a VA guaranteed home loan will be the borrower’s primary residence. It’s...
11/24/2010
First-time homebuyers applying for a VA mortgage often wonder what steps must be taken before the VA will actually issue a VA loan guaranty, making the VA loan process official and, pending any last minute changes, final. There is a specific set of steps a lender must take prior to the closing of...
11/24/2010
Our last post on VA loans and the myths that sometimes misinform potential VA loan applicants included a discussion on who is eligible for a VA loan. All current and former military members can become eligible for a VA home loan after serving a minimum amount of time on duty. Those minimums vary ...
11/23/2010
1 Comments
There are many myths and half-truths to dispel about VA home loans. As with any government home loan program, there are changing rules, requirements and old policies no longer in effect--but word doesn't always get around about such changes, and the myths tend to pile up until the most recent upd...
11/23/2010
Borrowers who get in trouble on their VA home loans have many options open to them, especially if they don't delay getting help from the Department of Veterans Affairs and the lender. VA advice for homeowners in financial trouble includes strong encouragement to contact the lender at the first in...
11/22/2010
Rainmaker
475,098

Bruce Reichstein

FHA / VA One-Time Close Loans - Nationwide
smartphone800-518-0099
local_phone800-518-0099
Contact The Author