A VA foreclosure house is potentially a great opportunity for home buyers and real estate investors to buy property at discounted prices. VA foreclosure homes are houses which were originally purchased by U.S. military veterans through a federally guaranteed loan program called the VA Home Loan Program. If a homeowner defaults on a VA home loan the mortgage lender is refunded the costs of foreclosure, and ownership of the property reverts to the Department of Veterans Affairs. The home is foreclosed and offered for sale to the public to help recoup the loss. Read the rest of this entry »