InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] VA Loan Guarantee Posted by SeanW on November 24, 2003 at 6:44 PM Anyone know when a foreclosing lender can collect it's VA loan guarantee? For example. Suppose a loan that's $80,000 in default goes to sale in June for $70,000. The bank sells it REO in August and collects a net $74,000 after closing. Would the lender collect $10000 in June, or $6000 in August? I'm basically curious whether there's any advantage to a lender, to sell a VA-backed house quickly. If they have to wait until the house is ultimately disposed of, then that would be an incentive to deal (when an investor comes calling after a trustee sale...) Follow Ups: Workings of VA's Loan Guarantee Ward-CA- 8:51 AM, 11/25/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Anyone know when a foreclosing lender can collect it's VA loan guarantee? : For example. : Suppose a loan that's $80,000 in default goes to sale in June for $70,000. The bank sells it REO in August and collects a net $74,000 after closing. : Would the lender collect $10000 in June, or $6000 in August? : I'm basically curious whether there's any advantage to a lender, to sell a VA-backed house quickly. If they have to wait until the house is ultimately disposed of, then that would be an incentive to deal (when an investor comes calling after a trustee sale...) Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455