ARCHIVED BLOG POSTS
2012
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Recently, the President declared federal disaster areas in three states; Montana, Maryland, Wisconsin all have counties which are now officially recognized as disaster areas. Those are in addition to earlier declarations for counties in Virginia, Minnesota, New Jersey and elsewhere. All in all, i...
08/19/2012
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One of our recent posts included a reader question about VA loans for home improvements. The reader asked, "Can we get a loan for home improvements. For example, paint, carpet, and tile floor repairs, ect.?" As we mentioned in the original blog post, the VA does not guaranty separate, "new purch...
08/16/2012
A reader asks, “I heard the VA limit is increasing for SAN DIEGO COUNTY in 2012. Is there any confirmation of that?” The Department of Veterans Affairs recently published revised VA loan maximum guaranty limit, which have changed because of the The Honoring America’s Veterans and Caring for Camp ...
08/15/2012
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The Department of Veterans Affairs has released a circular announcing changes to the VA loan maximum guaranty for the remainder of 2012. According to VA Circular 26-12-7, Maximum Guaranty for Loans Closed August 6, 2012 to December 31, 2012, recent legislation signed into law by the President inc...
08/14/2012
A reader asks, "My buyer has been told by his credit union that VA does not finance foreclosed properties in Alabama until the one year right of redemption is removed. Is this true? I can find nothing on the subject." This is a situation where a look at the VA loan rules won't help--the VA Lender...
08/14/2012
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A reader asks, “We own our home, paid cash for it. Can we get a loan for home improvements. For example, paint, carpet, and tile floor repairs, ect.?” There are theoretically two ways a borrower could approach a VA home loan situation like this. One is to apply for a VA mortgage on the property a...
08/13/2012
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A reader asks, “What is the age cut off on buying a mobile home?” Assuming the age of the mobile home is the issue in question (some readers do wonder whether there’s an age cutoff or restriction on VA home loans–there is no “maximum age” for VA loan applicants”), we must reference Chapter 12 of ...
08/12/2012
A reader asks, “We are looking to short sell my husband’s house. We were recently married, but I am not on the VA loan with him. I have a few questions. I know this will affect his credit score but will it affect mine? We do have other accounts that we’re joint on (ie. credit cards, car loans) He...
08/09/2012
In recent days, changes to the VA home loans program will affect many borrowers, and in some cases may speed up the VA loan application process. Two major changes occurred in the first week of August, 2012: the VA published VA Circular 26-12-6, and President Obama signed the Honoring America's Ve...
08/08/2012
A reader asks, “Is there any way for me to purchase two homes with my VA loan benefits? Reason: I want to reside in Texas during the winter and Montana during the summer.” There are two basic reasons why the answer is “no” to this reader question. The first involves the borrower’s VA loan entitle...
08/07/2012
Rainmaker
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Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide