Comment

Comment by Wendy Rulnick on August 13, 2012 at 6:37am

Victoria - Even if the file is started anew, the good news is that the VA Compromise appraisal is valid for six months. That will save about two-three weeks in the approval time frame.

Comment by Victoria Frieberg on August 13, 2012 at 4:09am

My buyer just made an offer on the first day after the relisting of a home which had a va counte.  the original buyer could not perform, agent relisted at the counter offer price.  the seller took two weeks to get all paperwork back, now the listing agent has been told the file needs to be started all over. buyer offer matches the counter offer..I realize it would be outside of timeframe for most lenders leaving with same negotiator..andy tips to expedite?

 

Comment by Brenda Mullen on July 14, 2012 at 3:19am

That is sort of what I thought, but hadn't really heard of that and wanted to get thoughts.  Thank you so much!

Comment by Wendy Rulnick on July 14, 2012 at 3:17am

If there is a document from the adoption agency about the funds, you could include it. Also, they can explain it in their hardship letter. I don't think it will be a problem. Kids are expensive, right?

Comment by Brenda Mullen on July 14, 2012 at 3:14am

Hi Wendy,

I believe from the Adoption agency.  I guess it's some kind of payment for adopting, but I will ask for sure.  I guess they spent a lot of money to adopt and this may be a credit back???   The loan is with GMAC.  We haven't started anything yet as they are thinking about what their options are.  

Comment by Wendy Rulnick on July 14, 2012 at 3:00am

Brenda, where is the money coming from?

Comment by Brenda Mullen on July 14, 2012 at 2:38am

Quick question for the group.  I will be helping a family out with a possible VA Compromise sale soon.  They are PCSing and are living paycheck to paycheck; however, they just got through adopting a child and will receive about 13000 soon.  This money will be used to pay down bills and buy tuition books as they home school.  Do you know will this be an issue for their compromise sale?  Any advice would be helpful.  Thanks!

Comment by Kevin - Greenville, SC on July 3, 2012 at 11:53am

@Tara,  Have you or the Homeowner contacted the VA Loan Technician?

Comment by Tara Samney on July 3, 2012 at 11:46am

Wendy- I don't understand either.  I've spoken to Escalation 2x today and 2x earlier this week.  They keep telling me negotiator has final say.  What?? The negotiator is not getting it- in addition to HUD I have written a breakdown explaining it alll and an addendum.  Is there any other route?  He is threatening to decline file on Mon if he doesn't have a counter at appraised price even though we are netting more than min

Comment by Wendy Rulnick on July 3, 2012 at 11:42am

@Tara - I don't understand why there is an issue if they are making their net. As long  as the net is there - you should be fine in my experience. VA Compromise Sale is not to get a contract price "at" the appraised value... that's why trimming this and that from closing costs works.  Try Chase escalation department *** Escalation Department *** 877-496-9025 

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