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VA Loan Tip #6 for Veterans
Your Discharge May Affect Your Chances
The nature of your discharge can affect your eligibility for a VA loan. The certificate of eligibility process gets complicated for veterans separated from the military with a discharge other than honorable. In these cases the VA checks to see if the discharge was classified dishonorable. If you had an 'other than honorable' discharge, seek help from their local VA office, it's best to get some expert advice on what additional information to file, where to send the paperwork and what to do if an appeal is necessary. Be sure to include copies of your DD214 form, plus any paperwork or documentation showing that you either didn't receive a dishonorable discharge, or had your discharge upgraded, modified, or corrected.
VA Loan Tips for Veterans
- Entitlement to a VA Home Loan
- Advantages to the VA Guaranteed Loan
- About VA Loans with Adjustable Rates
- Getting Pre-approved for your VA Loan
- Eligibility for a VA Home Loan Guaranty
- Your Discharge May Affect Your Chances
- I Lost My DD214
- For Those Who Already Have a VA Loan
- A One Time Deal
- VA Loan Partial Eligibility
- VA Loans and Rental Properties
- VA Loans and Your Debt Ratio
- Uses for Your VA Loan
- About the VA Funding Fee
- Co-signers on VA Loans
- The Veterans Benefits Act of 2004
- VA Home Loans and Fair Housing Laws
- VA Pre-approved but Can't Find a House
- VA Loan foreclosures
- Improving Credit to Enhance VA Loan Eligibility
- Help for VA Homebuyers
- VA Loans to Purchase Farms
- VA Loans for Properties Outside of the US
- VA Home Loans After a Borrower's Death
- Selling a VA Loan Property
- VA Mortgage Payments
FREQUENTLY ASKED QUESTION # 7 [ -more VA Loan questions- ]
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Q: I heard the VA has an inventory of foreclosed homes. How can I find out more about this?
A: The Department of Veterans Affairs (VA) acquires properties as a result of foreclosures on VA guaranteed loans. These acquired properties are marketed through a property management services contract with Ocwen Federal Bank FSB, West Palm Beach, Florida.
The properties are listed by local listing agents through local Multi Listing Systems (MLS). A list of properties for sale may also be obtained from Ocwen's website at http://www.ocwen.com/ . If you are interested in buying a VA-acquired property when it is listed for sale by Ocwen Federal Bank FSB, please contact a local real estate broker of your choice to see the property.
Interested Listing Brokers and subcontractors may also access Ocwen Federal Bank's website at http://www.ocwen.com/ for information on selling VA-acquired properties.
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VA Loan Rates
for 9/07/2008
30 year fixed
-----------------
0.000 points
6.500%
6.618% APR
15 year fixed
-----------------
0.000 points
6.500%
6.500% APR
Life Insurance for Military Members
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