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Archive for May, 2010

VA Foreclosures

By admin On May 4, 2010 No Comments

It is no secret that foreclosure rates are up in recent years. However, amid all the turmoil associated with the loss of jobs, the economy and other factors, the VA loan program has become a force relatively stable in an otherwise volatile mortgage market. After the foreclosure statistics published by the Mortgage Bankers’ Association for the fourth quarter of 2009 show a significant difference between the types of loans

All loans: 4.58% in foreclosure

Prime Mortgages:  3.31% in foreclosure

Subprime: 15.58% in foreclosure

FHA Mortgages: 3, 57% in foreclosure

VA mortgages in foreclosure:  2.46% 

 these impressive figures come after a banner year VA loans, which saw 80 per cent loan growth during 2009. Almost $ 70 billion in loan funds were guaranteed by the Department of Veterans Affairs last year.

Most of the program’s success in maintaining VA’s foreclosure rate is fixed, can be directly attributed to the Department of Veterans

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