Click the button to hire a Superstar in your area
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
If
Started by Neil L.. Last reply by Short Sale Superstars LLC Apr 9, 2020. 3 Replies 0 Likes
Started by Rose Beaverson. Last reply by Jason Sanseverino Aug 20, 2019. 3 Replies 0 Likes
Comment
I wanted to update everyone. We received a new value on the property (about $70,000 less than the original appraised value) and closed. :-)
Anyone have tips on getting a VA auction postponed? Lender is Chase
Absolutely not! Ocwen just submitted one to the VA for me this week. The VA would not allow me to submit it directly, so Ocwen sent the paperwork to me to fill out and then they submitted it to the VA. The VA responded to Ocwen today asking for a copy of the contract, so they are definitely still working on reconsiderations.
You've been bamboozled. The VA has had no such change. I will say that it's a major uphill battle fighting a still valid (6 months) VA Liquidation Appraisal though.
Has anyone heard the VA discontinuing Reconsiderations of Values on VA short sales? I just had WF tell me that this is a new "policy change".
Brenda - The VA normally does not seek repayment, but that portion of the entitlement used for the purchase will not be available for other home purchases until repaid, if desired by the borrower. I suggest the borrower call the VA directly to satisfy himself. Tey are very helpful!
We just received an approval letter on a Wells Fargo VA short sale. I quit doing VA short sales years ago after disappointingly high, immovable appraisals foiled a number of VA short sales for me. Thanks to a CFPB complaint we filed due to a lack of response by Wells Fargo, we were able to get an approval on this one, but I am concerned about one paragraph in the approval letter. It states:
"Nothing in this Notice or in the release of the mortgage waives the investor's (and all other interested parties') right to seek payment of the remaining deficiency under the loan documents or any of its other rights thereunder, and the obligations of the note shall remain in full force and effect until paid in full."
Does the VA routinely pursue veterans for repayment of a deficiency?
I have a Wells Fargo VA Compromise sale with a contract that meets the required net amount and a buyer who's willing to take on the repairs that has killed other deals. However, the foreclosure sale is scheduled for Friday, June 2. (This is the 3rd contract and the foreclosure sale date has been postponed once already.) I've escalated to Randy K. Saffel, Assistant Vice President, Wells Fargo Short Sale Division and to the VA Loan Technician "helping" the homeowners. Is there anyone else to whom I can make an appeal to postpone the foreclosure? (Mr. Saffel has been responsive, but the sale date has not been postponed - we have less than 4 days!!)
I appreciate any assistance!
good job Wendy!
Although there is no requirement that comparable sales or other real estate market information be submitted with a request for a change in value, such supporting information will greatly assist the VA in reviewing the request. Lender Appraisal Processing Program (LAPP) cases should also include a recommendation by the Staff Appraisal Reviewer (SAR).
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.
You need to be a member of VA Compromise Sales to add comments!