ARCHIVED BLOG POSTS
2011
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In previous blog posts we’ve covered issues related to natural disasters and VA mortgages. The Department of Veterans Affairs has resources available to help borrowers in declared disaster areas–one of the most important kinds of assistance the VA offers VA borrowers is help with the lender to a...
03/31/2011
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If a veteran wants a VA home loan, has gotten the loan approved, but hasn't closed the deal when a natural disaster strikes, the Department of Veterans Affairs has provisions to protect the buyer. A borrower who hasn't closed the deal shouldn't be held to the same VA loan terms if the property ha...
03/30/2011
It’s easy to make assumptions about VA home loans affected by natural disasters–rumors, half-truths and outdated information can hurt an uninformed borrower in a time of need. VA loan policies in one area do not necessarily translate into other circumstances. The Department of Veterans Affairs ma...
03/30/2011
When it comes to a VA appraiser’s job, moisture is an important factor in rating or evaluating the property. Part of the appraisal process is to identity obvious conditions that could affect the value or usability of the home. Moisture is definitely a factor in both areas. There are three areas w...
03/29/2011
When a VA loan applicant finds a suitable home, it must be appraised to establish the reasonable market value of the property, but also to make sure ht home lives up to VA standards called Minimum Property Requirements. The VA sets standards for a wide range of issues and items on the property. T...
03/29/2011
VA borrowers often apply for VA home loans for improvements, repairs or alterations to a property owned and occupied as the borrower’s primary residence. A VA refinancing loan is a good example, especially if the borrower is applying for a VA-guaranteed Energy Efficient Mortgage. EEMs offer up t...
03/28/2011
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One of the attractive things about VA home loans is that they are assumable–a veteran can “sell” the home by allowing a third party to assume the VA loan payments and responsibility for the mortgage. According to the Department of Veterans Affairs, “Most homes purchased or refinanced with a VA gu...
03/25/2011
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In previous blog posts, we’ve discussed the difference between a VA appraisal, which is required for the sale of a home to move forward, and a home inspection which is an option the borrower should choose (but is not required to do so.) The VA stresses the importance of paying for the home inspec...
03/24/2011
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Veterans who are concerned about defaulting on a VA home loan should beware third-party companies advertising or making direct contact with promises to “stop foreclosure”. It’s true that a borrower in financial trouble can be more susceptible to scam artist tactics designed to play upon fears of ...
03/24/2011
VA loans to individual borrowers are, despite any learning a first home home buyer must do when applying for the VA mortgage, relatively simple compared to the process required to authorize a VA loan to two or more borrowers. When two or more people are buying a property together, the Department...
03/23/2011
Rainmaker
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Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide