How Does a VA Foreclosure Work?
A VA foreclosure is a foreclosure on a house that was bought with a VA mortgage. Because buying a house is rather a complex endeavor, there are several organizations that assist home buyers with the whole process of buying a home. The VA or Veterans Affairs is one of such institutions specialized in helping veterans to purchase the home they always wished. The VA does not buy the real estate for the veterans, but they assist them all through the house buying process. The veteran borrows the money to purchase the home from the lending society, but whenever it is necessary, the Veterans Affairs Department will contact the lenders and talk to them to defend the interests of the veteran buyer.
