Information

VA Compromise Sales

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

Members: 197
Latest Activity: Feb 27

VA Compromise Short Sale Information

 

 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]

VA Dispute Form - BPO

VALERI System Questions

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

 

If

Discussion Forum

VA relocation assistance extended beyond Dec 2016?

Started by Deb Clark-Wyles. Last reply by Brett Goldsmith Aug 3, 2017. 2 Replies

VA Minimum Net is 84.05%

Started by Allan Robinson Aug 10, 2016. 0 Replies

Comment Wall

Comment

You need to be a member of VA Compromise Sales to add comments!

Comment by Guerry Clegg on February 18, 2016 at 12:03pm

I have a VA short sale with Chase for $278,600 paying $8,358 in closing -- exactly 3 percent. We structured the contract, including a slight commission reduction, to meet the net of 85.05 pct. But Chase is allowing only $2,839.45 for CC. On my last VA short sale in October (Wells Fargo) they allowed $4,931.47 for a $169,900 purchase. If Chase is wrong, how to I escalate it?

Comment by Deb Clark-Wyles on January 27, 2016 at 11:16am

I just spoke to the VA regional office in Denver because I have a VA appraisal that came in 75K above the buyer's FHA appraisal.  She told me they no longer reconsider liquidation appraisals because by law they can't.  She told me our best bet is to just let the appraisal expire then resubmit the short sale request and hope for the best with the new appraisal.  Wells Fargo had told me the same thing.  Anyone else heard that?

Comment by Maria Strong on December 4, 2015 at 11:20pm

I wanted to update everyone.  We received a new value on the property (about $70,000 less than the original appraised value) and closed. :-)

Comment by Neil L. on December 4, 2015 at 11:13am

Anyone have tips on getting a VA auction postponed? Lender is Chase

Comment by Maria Strong on July 28, 2015 at 5:45pm

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.    

Comment by Kevin - Greenville, SC on July 27, 2015 at 1:35pm

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.

Comment by Scott on July 27, 2015 at 1:34pm

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".

Comment by Wendy Rulnick on June 25, 2015 at 6:34am

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!

Comment by Brenda Houghton on June 24, 2015 at 3:38pm

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?

Comment by Beth Hinson on May 26, 2015 at 8:38am

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!

 

Members (197)

 
 
 

Members

© 2018   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************