VA foreclosure

[miloroo]

What is the name of your state? MD

i have a va loan on a home that is going to be auctioned off next week. i know there will be a defiency balance. my questions are who do i pay it to? or who do i list it under if i file bankruptcy? i know va guarantees so much of the loan. someone told me that the va will pay the mortgage company the difference and that i will owe the va. but that the va won't sue me for the difference. they will just take away my va eligibility. please help if you can. thanks.

 

[cclovins]

The VA puts up to 30% of the cost and the bank the rest. If the sell pays off the bank and then the VA will get the rest up to the balance. So you most likly will pay the VA. And I'm sure they will take your tax refund to pay this until it's payed off. Any Federal monies now-a-days student loans, VA loans, and the such is now subject to be taken from tax refunds.