Mortgage question..?

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Is a VA loan a non recourse loan? What happens if your house goes into foreclosure..if anybody can give me some info on VA loans that would be great…Thanks…

1 Comment
  1. Reply
    donald e
    May 17, 2011 at 8:20 am

    BEEN THERE DONE THAT AND THE VA CAN AND WILL COME AFTER YOU AS MUCH AS 20 YEARS LATER, THEY WILL TAKE THE HOUSE SELL IT AND YOU WILL BE RESPONSIBLE FOR THE SHORT FALL FROM WHAT YOU OWE TO WHAT THEY GET PLUS ATTORNEY FEES AND FORECLOSURE FEES, BEST THING TO DO IS TO SELL IF YOU CAN CLEAR THE MORTGAGE, THE VA SUPERCEDES BANKRUPTCY AS IT IS A FEDERAL OBLIGATION SO YOU CANNOT GET OUT OF IT WITH BK. SELL, SELL, SELL GL.

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