Kentjbkent
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- Joined
- Jan 29, 2009
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Here's a thought...
Seems we discussed a long time ago, the possibility that GA/CA bought this house by assuming one of the old VA Assumable loans since they purchased this house immediately after filing bankruptcy..
So IF they did just simply assume a VA mortgage (believe it was back in late 80s, early 90s when these loans were all over the place..), and there is no equity in the house (from what we learned?), they will not be losing ANYTHING by letting the house go back to BOA.
The foreclosure will go against the original loan holder.
Seems we discussed a long time ago, the possibility that GA/CA bought this house by assuming one of the old VA Assumable loans since they purchased this house immediately after filing bankruptcy..
So IF they did just simply assume a VA mortgage (believe it was back in late 80s, early 90s when these loans were all over the place..), and there is no equity in the house (from what we learned?), they will not be losing ANYTHING by letting the house go back to BOA.
The foreclosure will go against the original loan holder.