Potential homebuyers looking to save money on their purchase might want to consider a foreclosed home. If a buyer is looking to obtain a VA home loan through the U.S. Department of Veterans Affairs, they may want to look into the VA’s foreclosed properties.
After the VA acquires a property that has been foreclosed upon from one of its loans, the department markets it through its Real Estate Owned (REO) property list managed by BAC Home Loan Servicing LP. The foreclosed properties are listed by listing agents through the local Multiple Listing Systems or MLS.
Those who are interested in learning more about a property that was foreclosed upon by the VA may want to contact their local Veterans Affairs Department or a local real estate agent to find out more. Learning how to identify the most affordable homes, as well as the ways to obtain a VA home loan, can save veterans thousands of dollars on their purchase.