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Im planning to sell my home on which I have a VA-guaranteed loan. If I let someone assume my loan, will I still be potentially liable in case of default?

April 26, 2017assume Case Home let liable loan planning potentially sell va-guaranteed

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Im planning to sell my home on which I have a VA-guaranteed loan. If I let someone assume my loan, will I still be potentially liable in case of default?

1 Answer

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On VA home loans for which a commitment was issued on or after March 31, 1988, approval by VA of assumes is required, and if granted, the veteran is released from future liability, but such a release does not restore loan guaranty entitlement.