If you're not sure what a VA Compromise sale is you can check out my previous post "Military Families Options if You Are Upside Down on Your Mortgage." In brief it's a short sale for VA loans.
Now the Veteran's Administration (VA) has added a $1500 Relocation Bonus for VA Compromise Sales at closing. The funds must be shown on the HUD-1 provided at closing.
This announcement comes on the heels of the Treasury Department saying some military families may be eligible for HAFA approved short sales without showing a drop in income. Fannie Mae and Freddie Mac have also changed their guidelines to include PCS orders as a qualifying hardship making a short sales easier for military families.
With the DoD HAP Benefits running low more service members may be looking at a short sale or VA Compromise sale as an option. It's never an easy decision to undertake a sale of a home when you are upside down on the mortgage but not everyone wants to become a landlord or face a separation from your family. However you do have options.
If you are a Ft Belvoir, Pentagon or Quantico service member with a VA loan and need assistance selling your Woodbridge VA home give an agent experienced with VA Compromise sales, military short sales and DoD HAP sales give Cindy Jones and CJ Realty Group a call at 703-346-2213