Real Estate is cheap lately. Tough times for many people and our government is no exception. Right now, the United States Government is liquidating homes for as little down as $100! This article will show you how… for free!
Leading up to the peak of real estate prices, many toxic loans were issued. Dishonest banks gave loans to borrowers who could not afford the payments. These loans had sneaky terms where the borrowers ended up paying more than they could afford. Many of the banks that made those loans have gone into receivership with the US government. The result was that these properties were foreclosed upon and those banks were taken over by the US government.
This has created a fundamental problem from the government agencies that now own these homes. To aggravate the matter, many potential buyers lack the necessary funds for a down payment. The solution for the US government was to open the floodgates and offer government owned foreclosures for reduced down payment. In addition to this, special low interest rate financing can be obtained to purchase these homes.
Prior to the receivership, many of the homes were foreclosed upon. The end result is an unprecedented opportunity for many Americans. That opportunity is the government foreclosure purchase program. These homes are available for less than $1,000 down. In fact, many of the homes qualify for special financing where the down payment is as low as $100 and some are even $0.
How can you get in on the action? Easy just contact your local VA Home Loan Center and get connected. In an effort to stimulate the economy and liquidate government owned real estate assets (REO’s), VA HLC has created a one stop shop wherein those who can afford to pay rent, can now afford a home of their own. Designed with these objectives in mind, government owned repossessed homes can be purchased with little to no money down. The buyers do however; have to place a refundable deposit into escrow once they have chosen a home. This special program is open to all Americans over the age of 18 but for a limited time only.
Here are some benefits of using VA Home Loan Centers to buy a government owned foreclosure:
Low down-payment The VA home loan centers are offering loans to all US citizens over the age of 18. These loans have down payments as low as $100. Some borrowers will even qualify for $0 down financing!
Low closing costs Each VA home loan centers loan features clsoing costs (in part or whole) to be paid for by the seller, not the buyer!
$2,000 VA HLC grant money VA home loan centers is offering a limited grant of $2,000 when you close your loan. This grant is available only though VA home loan centers and only for a limited time.
Easy qualifying The loans originated by VA home loan centers have lower standards than you will find with most banks and institutional lenders. If you have stable income and average credit, you probably qualify!
Fixed rate mortgages VA HLC loans are fixed for 30 years! These payments will not increase for the life of the loan. Your loan payment will remain affordable for the entire loan.
When you examine all the factors, its obvious why VA home loan centers is your easiest path to buying a residential foreclosure.
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Source by VAHomeLoans