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Ft. Belvoir Families-Are You Wondering Whether Your PCS Orders Qualify As A Hardship

Do PCS Orders Qualify for a Hardship?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.

 

 

 

                                   Real People*Real Lives*Real Estate

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and Integrity Real Estate Group a call at 703-346-2213.

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. 

Military Relocation Professional


Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.

Integrity Real Estate Group
 
Real People*Real Life*Real Estate

Licensed in the Commonwealth of Virginia



 

 

Comment balloon 6 commentsCindy Jones • January 11 2012 09:35AM

Comments

These are some good programs to look into for helping Soldiers who need to PCS and need to sell a home.  I, myself need to look further into this for Soldiers in the San Antonio area...although many just choose to rent.  Their big question is, if they do a VA Compromise sale, do they lose their VA eligibility in future home loans as they would if they were foreclosed on?  

Great info Cindy and I know your military sellers are very happy you help them out!

Posted by Brenda Mullen, Your San Antonio TX Real Estate Agent!! (RE/MAX Access) almost 7 years ago

Brenda-with a VA Compromise sale they lose the portion of the foregiven short but not their whole entitlement. 

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 7 years ago

I've done only one VA Compromise sale and it was quick and painless for all involved. 

Posted by Chris Ann Cleland, Associate Broker, Bristow, VA (Long and Foster REALTORS®, Gainesville, VA) almost 7 years ago

Awesome, thank you so much for answering for me :)!  

Posted by Brenda Mullen, Your San Antonio TX Real Estate Agent!! (RE/MAX Access) almost 7 years ago

Chris Ann-Ours wasn't quite as quick until we contacted the CEO of USAA.  Then a fire was lit under the processor which of course was a third party.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 7 years ago

Brenda-you are welcome.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 7 years ago

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