Florida VA Foreclosure

This page explains the va foreclosure process as a whole and the Florida VA foreclosure process in particular. The Department of Veterans Affairs (VA) provides loan guarantees of up to 25% to lenders providing loans to veterans, their spouses and active duty military personnel.

This means that if you default on the loan, the lender is already covered for up to 25% of the loan amount and the VA is on the hook for it. In some places where there aren't lenders readily available, it can even provide direct loans. If you were to go into foreclosure, the VA stands to lose all this money. For this reason, it tries very hard to help you, the veteran, avoid foreclosure.

The VA definitely doesn't want to be in the real estate business, so it will try anything possible to help you avoid foreclosure, even lending you money to bring your loan current. Of course, it'll only help you make your loan current if you can show that what got you in trouble was a temporary situation. Nevertheless, keep this in mind as you look for options.

Florida Department of Veterans Affairs foreclosures, like other foreclosures are handled through the Florida court system, the one difference is that VA will step in wherever it can to help prevent this foreclosure, so take advantage of their help.

Please click on this link to see options for dealing with the foreclosure process.

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