VA mortgage loans are home loans that are government insured and guaranteed by the VA (Department of Veterans Affairs). They are there to help qualifying active-duty service members, reservists and Veterans that wish to purchase a home. Although the financing comes from banks, the borrowing terms are more flexible, including lower interest rates and down payments.
Unfortunately, even with this help many Veterans discover they can’t make the mortgage payment, resulting to the home going into foreclosure. With help, they can often learn how to avoid foreclosure. Countrywide VA loans are issued through Countrywide Banks. Countrywide is used by many Veterans, as they are one of the top lenders for VA loans.