There are many people in the south left without shelter after Hurricane Katrina destroyed most of what was in her path. Much of what is still standing is either uninhabitable because it is flooded with water or structurally unsound. People from the areas affected by Katrina have been fleeing to different cities and towns all across the United States in the hopes of finding some relief. These people are looking for places to live, food, clothing, and even work in order to support themselves and their families, and rebuild their lives. VA owned homes may offer some help to these people.

VA-owned homes are homes that the VA has repossessed due to the owner defaulting on the mortgage and the lender getting the money for the loan back from the VA because it was guaranteed. The VA then lists the homes for sale to the general public. According to the speech given by President Bush, VA homes (along with other government-owned properties) that were up for sale will soon be offered for sale to people who have been displaced by Katrina. For those people who are now homeless due to the hurricane, this means that homes all across the Unites States will be available for them to live in.

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As for people who are not homeless due to Katrina and were planning to purchase a VA -owned home, these homes are now off the market and unavailable to the general public for purchase. The VA Home Loan Program is still available to eligible veterans who are interested in using this guarantee service to purchase property. The only change is that VA owned properties are no longer available to purchase.

For more information on VA owned homes and victims of Hurricane Katrina go to VA Loans Government Site. To prequalify online for a home loan, complete our short online form and a Loan Specialist will contact you.