Bruce Reichstein's (brucereichstein) Blog

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Mortgage and Lending - www.OneTimeClose.com

ARCHIVED BLOG POSTS

2012 

A reader asks, “My sister is a cosigner on a VA loan based on her husbands eligibility.  She is now divorced and the house was given to her in the divorce agreement.  She received part of her husband’s retirement, since they were married 33+ years.  Her ex-husband signed a quitclaim relinquishing...
05/08/2012
One common question about VA home loans involves the purchase of properties other than suburban homes. VA loan benefits allow buyers to purchase a condo, mixed-use property, multi-family units, manufactured or modular homes and many other options. Not all lenders offer loans on these properties, ...
05/08/2012
We get many questions about VA loan limits, including the usual “how much can I borrow?” queries and related topics. Here’s a list of common questions about VA loan limits and the answers to those questions: What is the maximum amount I can borrow with a VA guaranteed home loan? This is a common...
05/06/2012
Is it true that if you have a short sale but you don’t miss any payments on your current mortgage that you can get a VA loan immediately after the sale? Here’s a quick rundown of my situation. I just got a new job so I have to move across the state (PA). I owe 270,000 on my house but it won’t app...
05/03/2012
A reader asks, “Everyone is telling me that a VA loan can only be used to for up to 4-units and that there are no exceptions. How can I prove that two VA eligible veterans can rent up to a 6-unit property? Can you tell me where, specifically, you found this information? Thank you!” Chapter 7 of t...
05/03/2012
A reader asks, "My credit is not so good due to a student loan...it was canceled out but it still on my credit report and for some reason it hasn't been removed….with that my credit score would be rather decent….it would be nice to know how to move forward with this issue…..can anyone help me?" V...
05/01/2012
We get many questions about VA appraisals. Some of the most common include specific queries about conditions such as peeling paint, houses equipped with fuse boxes, homes with septic tanks or well water systems, and many other topics. VA appraisals are governed by a set of rules established by th...
04/30/2012
A reader asks, “What happens to a VA loan when the veteran dies and the spouse is not on the loan?” The Department of Veterans Affairs official site addresses this question directly in a section called Post-Loan Frequently Asked Questions. According to the VA, this is common enough question to wa...
04/30/2012
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