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VA Foreclosure Auction: Find a Home

A VA foreclosure auction is a great place to find a home for you and your family. If you thought that these auctions were not open to the public then you were wrong. Not only are they open to the public but you can use a Veteran's loan to purchase one of them. This means you can get a loan for much less than what you anticipated and you can enjoy low monthly payments that will give you a better lifestyle to live each month. More money in your pocket is a benefit that many people wish they would have gotten when they purchased their homes at market value. Now they are seeing them being sold at places like VA foreclosure auctions because they couldn't afford the outrageous monthly payments.

If you are looking to buy a home at a VA foreclosure auction then be prepared to have a 10% down payment. You don't have to come up with 20% down and in most cases this is because the prices of the homes are so cheap. You also don't need to use an agent to work with you to purchase any of the homes because the process is so simple that you can do it on your own. Your lender is going to tell you everything that you need to do if you win a bid on a home. The most important thing that you can do is be sure to research the homes prior to making any bids. If you bid on a house with a cracked foundation and you win it then you will be in a bad situation because a lender will not allow you to use a bank loan on a house that has structural or foundational damages.

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