is the va loan the best option?

Seven years ago, a family member bought a condo with a VA home loan. The mortgage company sold the account to Fleet who stopped sending bills or coupons for payments. Essentially, they screwed my family member and after two late payments (it took 18 days to process because there was no payment coupon included) they started foreclosure procedures. Really bad company to do business with. She had no choice but to file bankruptcy. They forclosed on her in less then two months and the condo sat vacant for over a year and a half. No one helped her and the mortgage company even hung up on me when I called them. Can she qualify for a VA home loan again?

I was researching VA loans and got confused. Do you have to be currently active duty to recieve a VA home loan, or can you be out but still in the reserves?My husband has been Active duty during wartime for 3 years been deployed to a warzone for a year, but we want to be able to buy a home when we’re out of the military.

This reverse mortgage is for me or not?

Why does some REO listing say no FHA loans, and when I look up the communities they are FHA APPROVED?

2 1/2 years ago I purchased a house for $294,000. I put $30,000 down and took out a loan for $264,000. It is interest only. The monthly payments were managable ($1,600). A few months ago the payments went up by $750 per month. When I went to refinance thay say the house is only worth about $270,000 (real estate in my area took a nose dive) and with a $10,000 prepayment penalty they can not refinance. I looked into a short sale but the mortgage company said they wanted 90% of the balance.. The realtor said that there is no way I will get that in this area. She won’t put me or my family through that aggrevation. I can’t afford this house. What do I do? My credit score is very good! Please don’t say to rent out a room. The house is only 1,000 square feet and we already have myself, my husband, and 2 children living there.

Are va loans affected by the financial crisis or are these va loans kind of shielded from the credit crunch?

What is a debt to income ratio to qualify for Home Equity Loan / Home Equity line of credit.

What if I go to mortgage brokers who have access to “B” type lenders at higher rates?

Thanks guys!

We are in escrow buying a 2nd home (vac property) and are having a hard time trying to figure out what type of Home Insurance we need to get. Our current company is saying we need commerical insurance if we are going to rent it out. Whats the difference between them? We arent sure if we will rent it out. Help…?

The Fannie Mae/Freddie Mac Foreclosure Bill. I think it’s S.2636. If it isn’t please correct me. But is there a place I can go to see who voted for or against that bill?