Bruce Reichstein's (brucereichstein) Blog

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Mortgage and Lending - www.OneTimeClose.com

ARCHIVED BLOG POSTS

2012 

In our last blog post we discussed important home loan resources a VA loan applicant should become familiar with including the Fair Housing Act, which describes and forbids discriminatory lending practices for all home purchases, whether conventional, VA insured or otherwise. These protections ar...
03/08/2012
Knowing the VA loan funding fee process is very important—if you are new to the VA home loan system, how do you know the funding fee has been correctly calculated and applied? It’s true that you may have little to worry about when dealing with a reputable participating VA lender, but human error,...
03/07/2012
There are many scenarios potential VA borrowers bring with them to the bargaining table. Some VA borrowers are looking for typical suburban homes, others are looking for VA condo loans, and still others aren’t as choosy about the type of property they want to buy as they are about the type of loa...
03/06/2012
Since we’ve had some questions related to VA home loan occupancy rules, it seemed like a good time to review the Department of Veterans Affairs requirements for primary occupancy. For most types of VA home loans, the VA requires the borrower to certify in writing that the property purchased with ...
03/05/2012
A reader asks, ” I have previously had a home loan through the VA that was paid off and my eligibility was restored for the purchase of our second house here in Las Vegas. Due to the market, we are upside down about 20k and do not have the option to sell without taking a loss or foreclosure.“ “We...
03/05/2012
In the wake of recent tornado clusters that have struck in places like Alabama, Kentucky, Indiana, and elsewhere, it seemed like a very good time to post Department of Veterans Affairs loan policies regarding natural disasters. For example, according to VA.gov, “VA encourages holders of guarantee...
03/04/2012
There is a lot of talk in the news about the economy and housing market conditions. Regardless of whether the day’s headlines are good or bad, there are still VA borrowers facing trouble with their home loans. The Department of Veterans Affairs offers help to VA borrowers to avoid loan delinquenc...
03/01/2012
A reader asks, “I have a problem. My wife lost her job a few years ago and we lost our house…. Though it was a foreclosure, we did end up selling it in a short sale, and received a letter that it had been paid in full.” “We closed on March 13th 2011, with one year almost up, I have no ideal where...
02/29/2012
A reader asks us, “I am a widow of a retired veteran. My deceased husband only used part of his VA loan to purchase a house…can I use the rest of his eligibility for home repairs?” There are two ways to answer this reader question about VA loan eligibility. The literal answer to the question is t...
02/29/2012
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