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If a loan closed prior to March 1,1988 can be assumed without VAs approvals why should a veteran be concerned about requesting and obtaining a release from personal liability?

April 26, 2017approvals Assumed closed concerned loan prior requesting VA veteran

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If a loan closed prior to March 1,1988 can be assumed without VAs approvals why should a veteran be concerned about requesting and obtaining a release from personal liability?

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If a veteran does not obtain a release of liability, and VA suffers a loss on account of a default by the assumer or some future assumer, a debt may be established against the veteran. Also, strenuous collection efforts will be made against the veteran if a debt is established.