no bid

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no bid

When a property with a Veterans Administration (VA) guarantee goes into foreclosure, the VA must perform an analysis regarding whether it would be cheaper to pay the guarantee amount or to buy the house from the servicer and then sell the house itself.When it chooses to pay the guarantee amount,it is called a no bid.

References in periodicals archive ?
Over its anticipated lifetime, the estimated cost to school districts of this no-bid contract could exceed $20 million.
5 million no-bid contract awarded by the school board to her previous employer.
Jay Bozievich: "Let us not forget the first controversy with (Cylvia) Hayes, when she received a no-bid contract from the Oregon Department of Energy while her boyfriend was running for his third term.
Pierre, who got a no-bid contract with the city in Nagin's first term, provided trips to Jamaica and Hawaii.
The private military company Academi - formerly Blackwater and, more recently, Xe - is the proud winner of a no-bid contract that will keep them profiting off Uncle Sam's wars for the next few years, the RT said.
In late 2009, Citizens was sued by a Georgia software company after the insurer awarded a no-bid contract potentially worth up to $60 million to a Jacksonville company to re-inspect homes that received wind mitigation discounts.
The Iraqi Oil and Gas Parliamentary Committee is expected to address questions to the Iraqi oil minister, mainly about the signature of a no-bid contract with Shell contrary to the laws in force.
This amendment would bar anyone who receives a no-bid contract of $100,000 in a single year from a governmental agency from contributing to political campaigns, ballot initiatives or an elected official's campaign.
The controversial no-bid contract was awarded to Lockheed Martin's PA&E subsidiary by the UN Secretariat drawing fire from UN members.
3 bn no-bid contract to an IRGC firm, and Ahmadi-Nejad appointed his brother-in-law as cabinet secretary.
The Bush administration's award of a no-bid contract to the company ChoicePoint, ostensibly to provide "counter-terrorism databases" on foreigners, aroused further suspicion of possible exploitation.
Trent Lott's home; a class action lawsuit brought against a salvage firm given a no-bid contract for post-Katrina operations; an insurer's denial of a company's post-Katrina bad-faith allegations; punitive damages given to a client of State Farm after being denied coverage for the destruction of their home in a tornado; a contractor's suit for payment; fraudulent claims; insurer petition over 9/11 payments; and, a Trade Center tenant denial of a bid for 9/11 defense cost coverage.