2006-06-22 09:20:51 · 2 answers · asked by j_kubler 1 in Business & Finance ➔ Credit
Your credit score is not the issue. You do however NEED to pay off all collections and write-offs to convince VA to invest in you.
Sometimes the money for these pay-offs can come from:
1) the money you bring to closing; and
2) a corresponding increase in the loan amount provisioned to clean up delinquent and unpaid items.
However, remember, if you act crazy with a VA loan and don't pay your loan after six months, that bank won't mind foreclosing on your house, because VA insures that loan since you are/were in the military.
VA will pay the loan, thus the bank will get their money. VA, in turn, will evict you since it will have title to the house, and sell the house to another deserving military person.
2006-06-22 10:52:10 · answer #1 · answered by DaMan 5 · 1⤊ 0⤋
VA does not use credit scoring, they have their own system. It is worth a try.
2006-06-22 09:44:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋