More information VA Homes.
How can I find out more information on VA homes?
The HUD home and the VA home are similar, in that the loan was originally insured by the Veteran’s Administration, and following this type of foreclosure the Veteran’s Administration will take possession of the property. A REO company has recentlly been hired to process VA homes thru the foreclosure process. This means that realtors have minimal access to the sale process but they still appear in the multiple listing service.
Similar to the HUD homes, these propeties will normally be listed at or neear the Full market value. So again, we may not save a great deal of money purchasing a VA repo property.
Is there a way to find other foreclosed properties other than VA or HUD homes?
Tons of services out there on the public market sell information of the foreclosure process. Many contain lists of HUD, VA and other bank foreclosures. You can find many of these services on line 24 x 7. I have personally signed up for severarl of these foreclosure list myself. Most of the time I signed up just out of curiosity just to see what is available.
I have to admit, I’ve even signed up for some myself out of curiosity.
The information they provide, generally, is not sufficient to aid in any useful way in the purchase of foreclosed properties. In most cases, by the time the services have collected the information, it is already out of date and the bank may now own the property.
So in my experience, you can do better in your own searches without paying good money for a useless list that in most cases will not be of significant help to pay for its cost.
Again… don’t expect to make a killing as most of the properties whether VA, HUD or other properties will be listed either at or above the market. In most cases, the services that provide access to foreclosure listings will not provide it for free, as there is usually a minimal charge on a monthly basis.