My military seller is going overseas iin February. His wife and daughter will need to relocate locally. They need money badly to move the family into a rental. Any experience/knowledge about ability to obtain relocation assistance for the family when the SS is a VA loan with Wells Fargo?
thx to all for your replies!
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As of January 6, 2011, the Department of Veterans Affairs has authorized mortgage services to pay $1500 to veteran home owners who are upside down on their mortgage and complete a VA compromise sale.
MORE INFO: http://shortsalesuperstars.com/group/VAshortsales
That is GREAT News! This family REALLY needs it! thx for reply!
Keep in mind that this is a review process and your client may not qualify for an Incentive.
All lenders do not apply the relocation incentive. My last Wells Fargo VA Compromise did not, but maybe someone has a more recent experience. My recommendation is to include the $1500 on the HUD as VA Relocation Incentive followed by a copy of the official VA circular. Upload these together, to remind the negotiator. If you don't ask, you don't get!
Thank you. I will include the circular with the HUD! Great idea!!
AWESOME ADVISE. THANKS
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