Upcoming Foreclosures

Can someone use their VA loan after having a foreclosure FHA loan?

Can someone use their VA loan after having a foreclosure FHA loan? I understand the the VA loan is a guaranteed loan for those eligible. However if someone has a recent foreclosure on a FHA loan can they still obtain a VA loan for a home purchase? How does this work?

Public Comments

1. Not if you've had a recent foreclosure. Once the lender sees fc on your credit report it will all be over. You will need to wait 3-4 years and rebuild your credit before you will be able to get any kind of mortgage.
2. No not for at least 3-4 years at best. Your credit score is shot and you do need a semi decent credit score, not to mention you have already shown that you hate to say it but be trusted to make payments on your loan.