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Can I get my eligibility restored to use for a new loan?

Published 08/03/2012 12:27 PM   |    Updated 08/03/2012 12:27 PM
I sold the property I obtained with my prior VA loan on an assumption. Can I get my eligibility restored to use for a new loan?
In this case the veteran’s eligibility can be restored only if the qualified assumer is also an eligible veteran who is willing to substitute his or her available eligibility for that of the original veteran. Otherwise, the original veteran cannot have eligibility restored until the assumer has paid off the VA loan.