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This home is a permanent brick house under forecloser, on a private lake that is leased land. Does it qualify for a va loan in Tx

by gswart63680 from Dallas, Texas. Nov 26th 2016 Reply

Brad Cahoone (
#91 ranked lender in Texas - 1,042 contributions

Hello and that is a more complex question with more details required to provide an accurate response. If it is a non-arm's length transaction on a foreclosure then no as it would be considered a foreclosure bail out which is not allowed. If you are not related to the seller then it should be ok as long as the lease term is for longer than the term of the mortgage securing the property. I am a mortgage banker and broker in Lewisville since 2007. Feel free to call me to go over in detail to be sure. Brad Cahoone - NMLS ID 184176 - Global Home Finance Inc. - 316441 - 972-724-3222x227

Nov 26th 2016
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