Columbus OH – People with a VA loan often ask if they are eligible for a short
sale. The answer is yes. A VA Short Sale is called a VA Compromise Sale.
The Department of Veterans Affairs publicly releases copies of the Compromise
Sale Guidelines. We usually list the property for sale and then submit all the
short sale paperwork after a contract is accepted by the seller.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
The lender will order a VA Appraisal. All the appraisals go thru a VA Loan
Center. There are 9 Regional VA Loan Centers as of today. After the appraisal
is done, I always call the local VA Loan Center. I fax them a request for a
copy of the appraisal.
Upon receipt of my request they fax me a full copy of the
appraisal. I can see everything on the appraisal.
All the comparable sales they used, etc.
I love it because it makes the short sale process more transparent. Now if only
we could get Fannie Mae & Freddie Mac to do the same thing! If I think
the appraisal has inaccuracies, then I can request a dispute.
Most of the Loan Centers have an appraiser on staff that handles disputes.
Here is how to find out if you have a VA Loan.
On the mortgage recorded in the public records, usually 1-4 pages past the
signature page will be a VA Rider. At the top it will say "NOTICE: THIS
LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS
AFFAIRS."
The link below is for a VA mortgage. The page for the VA mortgage was 2
pages below the original signature page of the mortgage. The pages between this
and the signature page had the notary signature and the legal description.
http://gainesvilleshortsaleblog.com/wp-content/uploads/2012/08/VA-Mortgage.jpg
These are fairly simple short sales. They are tougher than others
because VA will not accept a sales that nets them less than
88.13% of the VA appraisal.
I don't think they allow exemptions. I don't know because I have never asked
for one. The lenders are not delegated, at least not in my experience. The
process is the lender assembles a package and submits to VA.
Will I get a Deficiency Judgment on a VA Short Sale?
They will give a complete release if a seller participates in
the short sale program.
But, the borrower has to pay back the loss to be eligible for a VA loan again
in the future. Thinking about a
short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed reliable
but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on How a Columbus Short Sale Works When You Have A VA Loan is
provided as a courtesy to our viewers to help them make informed decisions.
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