You can absolutely use your VA home loan benefits to
purchase a foreclosure or short sale.
Fortunately for cash - conscious military buyers, VA loans can be used to
purchase foreclosure or short sale properties if the property meets the VA home loan guidelines set by the Department of Veterans Affairs.
Likewise, potential buyers considering
purchasing a foreclosure or short sale property need accurate and complete information before making a decision.
Your value - add in the distressed market is to convey to buyers from the beginning that
purchasing a foreclosure or short sale is very different from the traditional real estate transaction.
Not exact matches
We have put together a guide below to help people who have recently had a
foreclosure,
short sale, bankruptcy, deed in lieu,
or loan modification to figure out the timeline for when they are next able to
purchase a home.
FHA loans include
purchase loans, home construction loans, and streamlined refinance loans insured by the Federal Housing Administration; as well as loans for «special» FHA programs such as Back to Work, which allows for recent bankruptcy,
foreclosure,
or short sale.
Purchasing a home through
foreclosure or short sale is another excellent method to cut costs when
purchasing a home.
A growing number of people desiring to invest
or otherwise
purchase foreclosure real estate are interested in
short sale availabilities.
I can see where this would help out those buyers who were looking to
purchase a
short sale or foreclosure that may need a little help!
The presence of a
short sale or foreclosure does not preclude eligibility for a loan, as long as the borrower is up to date on their payment, there is no waiting process to
purchase a home following a
short sale.
Losing a house through a
short sale or foreclosure doesn't have to mean the end of the road to
purchasing a home again.
There are quite a few variables involved when trying to figure out when someone will be able to
purchase a home after a
foreclosure or short sale.
Many borrowers who previously faced
short sale or foreclosure themselves opt to seek out a VA loan to use for their next
purchase.
When analyzing the difference between completing a
short sale or going through a
foreclosure in regards to
purchasing another property in the future it boils down to the waiting time which is more favorable in a
short sale.
FHA home loans help first - time home buyers and lower income Americans
purchase a home, and can still do exactly that even after a
foreclosure, bankruptcy
or short sale.
Even if you find a good real estate deal
or think you can save money by
purchasing a
short sale or foreclosure, homes cost a significant amount of money just to live in and maintain.
Elligible borrowers can
purchase a home again only 1 year after a
short sale or 2 years after a
foreclosure
Account Closed thank you i will do that, im trying to figure out what would be a good benchmark to go against for example, should the property i
purchase be 10 to 20 % below market value, should i buy
short sales or foreclosures than rehab them refinance them than rent them out etc. something of that sort of line.
The overall trend of fewer distressed properties (
short sale or foreclosure) on the market resulted in vacation buyers and investors
purchasing less of them in 2015.
More than a third of all properties (34 percent)
purchased by investors were either
short sales or REO /
foreclosures.
Forty - five percent of vacation homes and 44 percent of investment homes
purchased in 2014 were distressed properties — either a home in
foreclosure or a
short sale.
Whether you are ready to buy your first home, move - up, down - size,
or purchase a vacation
or investment property, you need to have access to all the up - to - date listings, including
short sales and
foreclosures.
I can see where this would help out those buyers who were looking to
purchase a
short sale or foreclosure that may need a little help!
The survey asked when homes were
purchased, the
purchase prices of the homes, the type of homes
purchased (
short sale,
foreclosure, new
or existing), and the age groups of the homeowners.
There are quite a few variables involved when trying to figure out when someone will be able to
purchase a home after a
foreclosure or short sale.
Thanks Joe for your comments / compliments on when you can
purchase a home again after a
short sale or foreclosure.
We are here to share secrets of the industry, whether interested in
purchasing a
short sale,
foreclosure,
or possibly a builder inventory home.
Bankrate.com recently tackled the question in an article that helps buyers weigh the pros and cons of
purchasing a
short sale or foreclosure.