VA Repossessions

What are Veterans Affairs?

A federal agency that offers mortgages to homeowners who have served in the military in their past is the Department of Veterans Affairs. This is also known as Veterans Affairs foreclosures (repossessions). Veterans Affairs are able to purchase foreclosure homes from lenders who foreclose VA-guaranteed mortgages and then auction them for sale.

Where do I locate foreclosure homes from Veterans Affairs?

The best way to guarantee a bargain on a new home or rental property on foreclosure homes are obtained through Veterans Affairs. You can find these foreclosures easy when you use our listings. You should also try to contact your local broker and ask about foreclosure homes from Veterans Affairs.

How do I purchase foreclosure homes from Veterans Affairs?

You can purchase a foreclosure home directly from Veterans Affairs by first submitting your offer to a real estate agent. The agent will then put forward your offer in a written form, by mailing it, faxing it or submitting it online. If your bid wins, your agent will then notify you.

How much money is needed to buy foreclosure homes from Veterans Affairs?

In your bid is won, you are still required to be pre-approved on a home loan. A deposit will then be required, ranging from $100 to 5% depending on the value of the property.

What should I be aware of when buying foreclosure homes from Veterans Affairs?

When you purchase a foreclosure home from Veterans Affairs you will not be able to obtain any other type of home loan. If the property to be purchased will be used as a rental, a Veteran Affairs loan cannot be attained. Veterans Affairs loans are only intended for homeowners who plan to live in the property.