Va Foreclosed Properties
August 8th, 2007
Va Foreclosed Properties
Question: VA Loans and Foreclosure?
If I foreclosed on a property in MD will my home in another state be at risk? I have a VA loan so would that guarantee the bank would not come after me and if they do, do they wait until after they sell the property?
I am not pocketing any money. I am in a negative equity situation and have had my home on the market for over a year. With all the rentals flooding the market I can not compete. I have a $700 condo fee a month on top of the mortgage and I can't continue to pay $2200 a month even with a second job>
Answer: All of your assets are at risk. You can not pocket the money and expect to retain your other assets.
Foreclosures Bank Owned, Foreclosed Homes $.50 On the Dollar
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