TIP OF THE DAY- VA TREATMENT OF FEDERAL DEBTS

TIP OF THE DAY- VA TREATMENT OF FEDERAL DEBTS

An applicant cannot be considered a satisfactory credit risk if he or she is

presently delinquent or in default on any debt to the Federal Government until the delinquent account has been brought current or satisfactory arrangements have been made between the applicant and the Federal agency.  The refinancing of a delinquent VA loan with an IRRRL satisfies this requirement.

 

An applicant cannot be considered a satisfactory credit risk if he or she has a judgment lien against his or her property for a debt owed to the Government

until the judgment is paid or otherwise satisfied.

justin brown