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CHAPTER

FHA and VA Foreclosures





In this chapter we will give you information about Federal Housing Administration (FHA) and Veterans Administration (VA) foreclosures. Either one of these areas may be a niche that some of you will find comfortable to make Quick Cash in foreclosures. Remember, the number-one goal for both FHA and VA is to do a loan work-out plan with the borrower.

Foreclosure is their last resort. Once the FHA or VA forecloses,the government is in the real estate business. FHA and VA REOs (real estate-owned properties) have been the inventory that has made many real estate investors a lot of money.

Just remember that both the FHA and the VA are government bu-reaucracies.The rules can change midstream. But once you develop a relationship with someone on the inside,that relationship can be worth its weight in gold. Be patient if you decide to participate with FHA or VA foreclosures.

The FHA is the mortgage insurance branch of the U.S. Department of Housing and Urban Development (HUD). Most people in the real estate arena talk about FHA loans rather than HUD loans. Technically, FHA does not make mortgage loans. It provides mortgage insurance to real



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