Stop Foreclosure by seeking a VA Loan Refunding
 A VA Loan Refunding is when the Department of Veterans Affairs purchases an existing VA Loan in an effort to assist active duty and retired military personnel in default on their loan.
 In the rare case of a VA Loan Refunding, the loan is purchased from the lender and the VA takes over full service of the loan and the remaining mortgage payments.
 When seeking a VA Loan Refunding you will need to provide the Veterans Administration with all of the documents you gathered or completed while attempting a Loan Modification with your lender.
 You should explore a VA Loan Refunding only when all other options have been exhausted. Typically, the Department of Veterans Affairs will not consider a VA refund on loans that have been in default for 6 months or more.
 Check your mortgage documents for information pertaining to loss mitigation. In order to qualify for a VA Loan Refunding, all property taxes must be current, or you must be participating in an approved payment plan with your taxing authority. If you have any additional liens or mortgages with other lenders must be subordinate to the first mortgage.
 A borrower can NOT demand that VA refunds the loan. However, the Department of Veterans Affairs may assist when the lender is unwilling or unable to assist with other foreclosure alternatives.
 Home Rescue Foundation can help determine if a VA Loan Refunding is your only option. In today's environment your original lender may be willing to modifying or rewrite your current loan. Home Rescue Foundation can help you evaluate your situation and determine the best way to stop foreclosure on your home.
 Since obtaining a VA Loan Refunding is difficult, you should consider hiring a professional with experience in loss mitigation and that has a proven track record in negotiation with your specific lender. Home Rescue Foundation can review your situation and determine if there is still hope of a successful Loan Modification.
 As mentioned above you should not purposely default on your payment in an attempt to negotiate a VA Loan Refunding. When presented with the necessary information, Banks are willing to negotiate the terms of your loan.
 Additional Resources and Documentation:
VA Home Loan Guaranty Services
VA Forms
Legal Disclaimer: This information on this site is NOT legal advice. You
should consult with your attorney prior to signing anything.
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