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Military Short Sale

Posted by MaryAnn Dempsey on April 14, 2011 at 5:00am

I had to deal with a bank for a borrower who is in the military, and we all appreciate and respect these military people, as they are our protectors. How can a bank, state, "unless we have a copy of the borrowers orders, stating that he must live a certain distance from home to base, we will not even consider a short sale". as we all know, military files are "Classified/confidential" and cannot and will not be handed to a bank for any reason whatsoever. Common sense, at least I think so. So the bank would rather just foreclose. This is so nice to hear that our banks would rather just put our military out on the street rather than help them. Well, I had to and did scream loud enough and made myself heard and now I am happy that my client and his family, a military person, will not be thrown out in the street. Sometimes you have to wonder, what kind of people are working at these banks and do they really know what they are doing or just pretending.

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Comments

MaryAnn Dempsey April 14, 2011 at 3:13pm

Generally they are classified. We all know that the military just dosn't hand out documents for anyone. My clients military boss, would not give out his orders for classified and or confidential reason. This does not give the bank the right to reject a Short Sale. Needless to say, I was able to get the short sale approved without the documents. There is a military short sale website and all the pertitnent information is there. I am glad all your military short sales worked out for you, as well as mine.
Jeff Payne April 14, 2011 at 7:06am

MaryAnn, why would their orders be a secret? I have done many VA short sales and never had any issues with showing the bank the PCS orders since that is their verifiable hardship.