If you're not sure what a VA Compromise sale is you can check out my previous post "Military Families Options if You Are Upside Down on Your Mortgage." In brief it's a short sale for VA loans.
Now the Veteran's Administration (VA) has added a $1500 Relocation Bonus for VA Compromise Sales at closing. The funds must be shown on the HUD-1 provided at closing.
This announcement comes on the heels of the Treasury Department saying some military families may be eligible for HAFA approved short sales without showing a drop in income. Fannie Mae and Freddie Mac have also changed their guidelines to include PCS orders as a qualifying hardship making a short sales easier for military families.
With the DoD HAP Benefits running low more service members may be looking at a short sale or VA Compromise sale as an option. It's never an easy decision to undertake a sale of a home when you are upside down on the mortgage but not everyone wants to become a landlord or face a separation from your family. However you do have options.
If you are a Ft Belvoir, Pentagon or Quantico service member with a VA loan and need assistance selling your Woodbridge VA home give an agent experienced with VA Compromise sales, military short sales and DoD HAP sales give Cindy Jones and CJ Realty Group a call at 703-346-2213
Real People*Real Lives*Real Estate
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
Cindy, Iam just glad that these folks have you as a resource. It's a shame that ANY military familes are facing this plight!
This is another good resource for miltary families that must PCS and sell their home so that they don't have to put it up for rent or bring loads of money to the closing table. Great post Cindy!
Cindy,
The VA Compromise Sales are a great way for a Vet to get a restart. Adding some relo cash is a bonus.
Rich
Cindy
It's a shame that our veterans having the housing issues.
Good luck and success.
Lou Ludwig
Thank you Cindy, for this information on VA Compromise Sale option. I will actually look into this for myself as we 'got stuck' with our home at our last duty station. It would be nice not to have that on our back.
Russell-military families aren't given a choice about moving. After all of the double and triple deployments in the last few years getting some assistance to help them sell their homes seems the minimum of what their lenders should do.
Brenda-a short sale or VA Compromise Sale isn't what a family may want to do but losing money every month on a home when they have no choice to move can have a major finanical impact on a military family.
Richard-since other lenders are providing cash incentives for moves it's nice to see the VA following suite.
Lou-it's a shame anyone has to face a short sale and certainly it's tough for military famiilies.
Susanna-congratulations on your husbands retirement. I'm sure that's a change! If you have a VA loan a Compromise sale may be an option for you. Were you eligible for a DoD HAP Sale?
Good Morning Cindy, that is great news for our vets that they have assistance. This is a very well written blog that will reach those in need. Especially our American Heros. Have a great Tuesday.
Scot-thanks for your positive comments. Just trying to get the word out for any service member who is qualifed for the new benefit.