I just got a great bit of news that all of those familiar with VA foreclosures will love to hear. VENDEE FINANCING IS BACK!!! One of the biggest changes you will notice is that the seller (VA) can now contribute up to 6% of the sales price toward buyers closing costs. This is HUGE!! If you work with investors and you are not showing them how to use vendee financing to purchase VA foreclosed homes, you are missing a great opportunity. Think of vendee financing as owner financing. Owner occupant buyers can buy with zero down payment and get up to 6% of the sales price from the seller to use toward closing costs and prepaids. Investors can buy with 5% down paymentat a current interest rate of 5.5%. There is also no PMI, just a 2.25% VA funding fee paid up front at closing. If this doesn't excite you, then I just don't know what to think. If it does, the attached flyer will explain more. 
If you cannot read the flyer clearly or would like a copy emailed to you, just email me and i will be happy to forward on to you.
Richard W. Overall, Jr
REALTOR and VA Foreclosure Specialist
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