Are PCS orders considered a hardship? It's a question that we are asked frequently by military families stationed at Ft. Belvoir, Quantico MCB, the Pentagon and other installations part of the Military District of Washington. Last fall the Fannie Mae issued guidelines to include Permanent Change of Station (PSC) orders as a hardship. A hot line was (877-MIL-4566) created for service members to be able to discuss foreclosure prevention options available.
In addition Fannie Mae also announced a six month military forbearance program where the death or injury of a service member on active duty causes a hardship for military families with a mortgage obligation. Don't know whether you have a Fannie Mae backed loan? Check to see if you have a Fannie Mae Loan.
The Treasury Department has also announced military families may be eligible for Home Affordable Foreclosure Alternative (HAFA) approved short sale without showing a drop in income. You can read the official guidelines for HAFA on their website.
Last year both Chase and USAA approved short sales for two of my military clients with PCS orders. USAA also approved a VA Compromise Sale for a military family who qualified under the Fannie Mae guidelines. Just as with any short sale a military service member does have to provide a complete packet of documentation.
If you are Ft Belvoir service member faced with a short sale decision check with your lender to see what options they have to offer. If you are looking for an agent who has experienced guiding service members through short sales, DoD HAP or VA Compromise Sales give Cindy Jones and CJ Realty Group a call at 703-346-2213.
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Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations.
Licensed in the Commonwealth of Virginia