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VA Mortgage
A mortgage that is guaranteed by the
Department of Veterans Affairs (VA).
Also known as a government mortgage.
Vendee
A purchaser; the buyer.
Vendor
A seller.
Vested
Having the right to use a portion of a fund such as an individual retirement fund.
For example, individuals who are 100 percent vested can withdraw all of the funds that are
set aside for them in a retirement fund.
However, taxes may be due on any funds that are actually withdrawn.
Veterans Affairs (VA)
An agency of the federal government that guarantees residential
mortgages made to eligible veterans of the military services.
The guarantee protects the lender against loss and thus
encourages lenders to make
mortgages to veterans.
Voluntary Lien
Any lien placed on property with the consent of,
or result of, a voluntary act of the owner.
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