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veteran obtains a release of liability

Published 08/06/2012 09:47 AM   |    Updated 08/06/2012 09:47 AM
If a veteran obtains a release of liability, is restoration of entitlement automatic?

No. The assumer must not only qualify from a credit and income standpoint, but he or she must be a veteran with sufficient entitlement to substitute for that used by the original veteran in obtaining the loan and meet occupancy requirements.