Foreclosure in 93311>Question Details

Tlsporter1, Home Seller in 93311

can a VA loan be obtained while going through the deed in lew process?

Asked by Tlsporter1, 93311 Mon Aug 17, 2009

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2
You have a couple issues. First no matter what with the va if your a veteran you can only have one loan at a time. So if your loan you are taking a deed in lieu is a va loan you can not use your va eligibility. The second thing is you are going to have serious credit issues to will be not acceptable to most lenders. You might have to wait and work to clean up your credit. Check out your credit score and determine what needs to be done.

Check out http://www.mortgageunderwriters.com/creditg.html

This will give you some information on underwriting guidlines.



Keith Manson
First Weber Group
Certified Distressed Property Expert
Greenfield,Wisconsin
0 votes Thank Flag Link Tue Aug 18, 2009
Hi TLS

You can only buy another house if you haven't used your V.A. or have paided it off.
Talk to a lender and see what options you have.


Jes Sierra, B.Sc. / Realtor®
0 votes Thank Flag Link Mon Aug 17, 2009
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