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Opinion: The pros and cons of VA modernization bill

Housing Wire

My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. While I’m a fan of improving antiquated systems, I first wonder if the VA, the MBA, or Congress were open enough about the problems with the current system.

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How to Buy a Preforeclosure Successfully: A 13-Step Beginner’s Guide

HomeLight

The lender has started foreclosure proceedings, but the house isn’t owned by the bank yet, and the owner still has a chance to catch up on payments. This means you might be able to get a discount on the house, but you’re dealing with a homeowner, not a bank — and that owner might not want to sell. (In Step 3: Find your house.

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13 Short Sale Tips So You Get a Dream Deal, Not a Nightmare Scenario

HomeLight

If you’re considering a distressed home, weigh the option of a short sale against the possibility of buying a foreclosure or bank-owned home. Short sales are generally available directly through the MLS. Certain government loans might not work for short sales. Know if a short sale is the best option for you.

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Vital Steps to Take When Purchasing Your First Home

Realty Biz

Start by gathering all relevant financial documents, such as bank statements, tax returns, and pay stubs. Research different types of mortgages available, such as conventional, FHA, or VA loans. They have access to the Multiple Listing Service (MLS) and can help you find homes that may not be readily available to the public.

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

It’s an official form certifying that a veteran has met the terms that qualify someone for a VA loan. VA loans might have a lot of red tape, but they can be excellent, affordable options for service members and their spouses. This is the amount of a property that a person (not the bank) actually owns.

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Selling a House ‘As Is’ in Minnesota

HomeLight

MLS has a field to mark a listing “as is”? Depending on their situation, whether they’re facing foreclosure, price becomes way more important to what we have to do for the short sale with the bank. Yes Is a real estate attorney required? Real estate attorneys are not considered essential for closing in Minnesota.

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The Cost of a Home Appraisal in Indiana

HomeLight

Here are some factors that can influence the cost of a home appraisal in Indiana: Urban vs rural Urban properties tend to be smaller and have more information readily available in the local MLS, which makes them faster and thus cheaper to appraise. FHA and VA loans have additional requirements , most of which relate to safety or soundness.

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