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I recently had the experience of first time home buyers looking for their first home to buy. They are, of course, wanting to close by November 30th in order to be eligible for the $8,000 tax credit. We looked at a variety of homes and they decided on one that they loved. I called the listing agent to confirm a VA loan was acceptable. I found out on that call that they had had a contract on the house right at 6 months ago that was also a VA loan. The appraisal came in below the contract price and the seller
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