VA Compromise Sales
Information
Group devoted to discussions for Veterans Administration short sales, called Offers in Compromise, or VA Compromise Sales.
Members: 201
Latest Activity: Sep 28, 2020
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]
http://www.vba.va.gov/ro/roanoke/rlc/forms/Circular%2026-08-13.pdf
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Discussion Forum
Did the Minimum NET change?
Started by Neil L.. Last reply by Short Sale Superstars LLC Apr 9, 2020. 3 Replies 0 Likes
VA Short Sale Appraisal Value Dispute
Started by Rose Beaverson. Last reply by Jason Sanseverino Aug 20, 2019. 3 Replies 0 Likes
Comment Wall
Comment
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Comment by Guerry Clegg on December 16, 2013 at 2:54pm
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Would like to know the outcome, Jason. I have a WF VA and they capped closing cost at 3 pct and cut the warranty even though it netted about 89 percent.
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Comment by Jason Sanseverino on December 9, 2013 at 11:08am
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Thanks Wendy - I am waiting for the NOV to find out the NET. The appraisal has been ordered - but hasn't been scheduled yet. I did the HUD with the judgments in 500 section. I will keep you posted!
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Comment by Wendy Rulnick on December 9, 2013 at 11:01am
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Jason - they may only care that the net is met. Extra could go to a junior lien. I'd do the HUD just like that.
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Kevin - where can I find their guidelines? This is a Wells Fargo loan - what's your gut feeling on them paying these liens?
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Comment by Kevin - Greenville, SC on December 9, 2013 at 10:52am
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Not according to their Guidelines, but some Servicer(s)/Lender(s) will. It's case by case, by case.
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Good Afternoon all - quick question. Will VA (through the Compromise Sale) pay personal judgments? I have a file where the seller has a DUI and 2 probation liens against him (and the home). What about past due utilities? I don't process many VA sales.
Thank you everyone!
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Any time, Bill!
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Comment by Bill Garrett on November 16, 2013 at 6:25am
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I knew Dr. VA Rulnick would have the definitive answer. And quickly. Thanks.
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Bill Garrett - Yes, even though the service member rented out his home, he can still do a VA Compromise Sale.
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VA COMPROMISE SALE FOR RENTAL PROPERTY?
The retired military seller has rented his property for 4+ years. It was previously his primary residence. Will he be allowed to do a Compromise Sale despite having this long rental history? Thanks.
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