VA foreclosures

[Anonymous]

Does anyone have a quick answer to this question. Is it easier to get a home the VA has foreclosed on with a certificate of elegibility myself? Just thinking off the top of my head maybe it would give me an advantage others without a certificate wouldn't have.

[ShanetheMortgageMan]

All VA loans require the veteran to have a COE - I'm not quite sure I understand your question.

[Anonymous]

i think the o/p is asking if they have and advantage being a veteran vs people who are not vets when attempting to bid on the same va foreclosure

Message Edited by loyal2dagame on 03-30-2009 11:49 AM

[ShanetheMortgageMan]

Ah I gotcha, I don't think it would as the COE does not prove you can qualify for a mortgage - but a pre-approval letter would.  COE just shows you are eligible, which is a requirement for the loan, but so are bank statements, paycheck stubs, and a credit report.  A COE would be kind of harmless to send, so if you have it, and the real estate agent thinks it would help... then go for it, but personaly I don't think it'd make much of a difference.  I'd probably look at it and say "They better darn well they are eligble for a VA loan if they are making an offer with one".