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What if a VA loan is foreclosed on?

VA loan holders who suffer a foreclosure must repay the full debt before the federal agency will insure another loan. People with concerns about a specific loans should contact their lender or the VA directly at (800) 827-1000.
 

Contact Information

Jack Thomas
Montana Legacy Real Estate
2013 Cromwell Dixon Lane Suite C
Helena, MT, 59601
Office: 406-431-0599
Cell: 406-431-0599
Fax: 800-496-5705
Lic. #: 15573
Should I buy a vacation home? PDF Print E-mail

Should I buy a vacation home in Helena ?

Today a vacation home can be purchased for investment purposes as well as enjoyment. And yes, there are tax benefits.
Some people buy a vacation home in the Helena area with the idea of turning it into a permanent retirement home down the road, which puts them ahead on their payments. Another benefit is that the interest and property taxes are tax deductible, which helps to offset the cost of paying for a second home. A vacation home also can be depreciated if you live in it fewer than 14 days a year, or 10 percent of the rented days - whichever is greater.

Resources:
* "Real Estate Investing From A to Z," William Pivar, Probus Publishing, Chicago; 1993.
* "The Ultimate Language of Real Estate,'' John Reilly, Dearborn Financial Publishing, Chicago; 1993.


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