I've got a military client and I've been working on a short sale with him. Bank of America won't budge on the price and a new attorney who just started negotiating the short sale suggested a deed in lieu. She has no idea whether or not a deed in lieu will hurt the client's chances of getting his security clearance. Does anyone know if the seller can do that and still get a security clearance?
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A DIL can affect security clearance but it does not do so automatically. There are many factors: what branch of the government, what level of clearance etc.?? A short sale can affect clearance too. The best thing for the home owner to do is to tactfully ask around from colleagues
It is my understanding both may affect his security clearance. He needs to go to supervisor immediately for legal advice through the military and not a private attorney.
In most cases a Deed in Lieu is recorded as a foreclosure. A foreclosure can negatively effect a persons ability to get or keep a security clearance. I personally know of a alarm company employee that lost his security clearance because he let his house go to foreclosure. After he lost his clearance, he was terminated from his job.
I do have a suggestion, make sure BoA knows this is an active duty military. We had several short sales get approved very quickly once the lender understood it was active duty military.
Also, is this an FHA loan? There are some steps you can take to get the net changed if it is FHA.
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