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VA Compromise Sales

Group devoted to discussions for Veterans Administration short sales, called Offers in Compromise, or VA Compromise Sales.

Members: 199
Latest Activity: Jun 26

VA Compromise Short Sale Information

 

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To contact VA call 877-827-3702

VA Homes Loans Website
VA Financial Worksheet.pdf
VA Servicer Guide


** EFFECTIVE OCTOBER 2013 VA COMPROMISE SALES MUST NET 85.05% of APPRAISED VALUE ***

 

Dispute VA Compromise Appraisals by emailing [email protected]

VA Dispute Form - BPO

VALERI System Questions

http://www.vba.va.gov/ro/roanoke/rlc/forms/Circular%2026-08-13.pdf

 

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Discussion Forum

Borrower current

Started by Guerry Clegg. Last reply by Chad Gelsinger Jun 19. 2 Replies

VA Compromise Sale - deed restriction on resale?

Started by Brenda Houghton. Last reply by Ken Bailey Jun 4. 2 Replies

Comment Wall

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Comment by Wendy Rulnick on February 27, 2018 at 6:37am

@Julissa - the net after closing costs is what they seek. All closing costs.

Comment by Guerry Clegg on February 27, 2018 at 4:08am
Chase has a stupid rule that it will only allow certain closing costs to be paid by the seller. I have escalated and received approval but have not always been successful. I had to get an email from VA to confirm that they would pay the claim.
Comment by Julissa Jumper on February 26, 2018 at 8:32pm

When we say VA short sale must net 84.05% of NOV, is that the net required AFTER deducting agent commissions and other seller costs? 

Comment by Julissa Jumper on February 26, 2018 at 8:19pm

I've tried going through old discussion posts trying to find this answer and will continue but am hoping someone may save me some time. my buyer submitted offer on Chase VA short sale. Offer price is over $1,000 above 84.05% of the newly appraised value and they have rejected our offer.

Where can I take it from here?

Comment by Bill Garrett on April 14, 2017 at 11:08am

My thanks to Corinn and Wendy.  Have a good weekend.

Comment by Corinn on April 14, 2017 at 9:21am

This is the most recent dispute form that I've received for a VA short sale.  I hope it's useful. VABPODispute.xls

Comment by Wendy Rulnick on April 14, 2017 at 9:06am

Bill - Be as detailed as you can, use a grid or CMA format, make adjustments. Show why. Use supporting evidence, such as inspection report, photos, etc.

Comment by Bill Garrett on April 14, 2017 at 7:23am

VA APPRAISAL DISPUTE............Our VA appraiser was either unaware of or ignored significant repair work that was needed.   No buyer is going to pay enough to hit the required net.  .............. Anything new about challenging a VA appraisal?  Still initiate by emailing   [email protected]?  Any required forms?............... I always welcome any suggestions on this stuff.  .............. Thanks.

Comment by Bill Garrett on September 14, 2016 at 12:51pm

Wendy:  Thanks, as always, for the quick and reliable info.  Appreciated.

Comment by Wendy Rulnick on September 14, 2016 at 12:39pm

Bill - VA says they cap, but in reality, if the net to the VA is within limits, they have allowed the excess to pay the junior lien.  I have not seen a requirement from the VA for the junior to forgive, Kevin Lancaster?

 

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