It's true, the VA does get control of properties with VA loan foreclosures. VA foreclosures are offered to the public in the same manner as repossessed HUD and USDA Development homes. If you are interested in one of these foreclosed single family houses, check the HomeSales.gov website to see what might be available in your area.
There are many different agencies offering homes on the website. Eligible buyers should contact a broker to have the Offer to Purchase And Contract of Sale VA form completed and submitted. All the routine eligibility and credit terms apply, as with any housing purchase, including the VA's property requirements. Check with your lender if you are unsure of the terms and conditions of purchase.
MORE: Learn more about the property requirements for VA loans.
