Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

I Foreclosed on a Home with My VA Loan...Can I Purchase Another Home Using My VA Benefits?
Caller: In 1998, I was uh,careless and walked away from a property I could not sell. I purchased the home with my no money down VA loan. Can I purchase another home using my veteran benefits? This seems like a great time to buy another house....
Answer: Yes, BUT it depends on the amount of entitlement you have left, if any. To determine the VA Home Loan Benefit we instructed Mr. Veteran to submit this form to the Regional Veteran Affairs Office requesting his Certificate of Eligibility. This certificate allowed us to determine any entitlement due to the veteran.
 
 

Upon return Mr. Veteran had a loss of $19,000 suffered by Veteran Affairs. The full entitlement is $36,000 so his remaining entitlement was $17,000. Since we are in a high cost area (the maximum VA loan limit in the Washington DC area is $768,750) we are able to add additional entitlement to the amount and calculate the maximum allowable home sales price.
Here is the formula:
 $768,750X 25% = $192,187 Maximum Guaranty
$192,187- $19,000= $173,187 Entitlement Available
$173,187 X 4 = $692,748 Maximum Loan Amount for no money down purchase
(I don't recommend trying this at home, just pick up the phone and call 703-497-3936)
Mr. ... more

__________________________________________________
Are you on The Rain? Grow Your Network!