Are You Upside Down On Your VA Loan And Need To Sell Your Woodbridge Home?

By
Real Estate Agent with Integrity Real Estate Group

VA Compromise SOLD sale CJ Realty Group
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

 

Posted by

                                   Real People*Real Lives*Real Estate

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and Integrity Real Estate Group a call at 703-346-2213.

Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations. 

Military Relocation Professional


Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.

Integrity Real Estate Group
 
Real People*Real Life*Real Estate

Licensed in the Commonwealth of Virginia



 

 

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Rainmaker
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Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

Cindy, Iam just glad that these folks have you as a resource. It's a shame that ANY military familes are facing this plight!

Jan 09, 2012 10:17 AM #1
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

This is another good resource for miltary families that must PCS and sell their home so that they don't have to put it up for rent or bring loads of money to the closing table.  Great post Cindy! 

Jan 09, 2012 05:20 PM #2
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Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Cindy,

The VA Compromise Sales are a great way for a Vet to get a restart. Adding some relo cash is a bonus.

Rich

Jan 09, 2012 05:42 PM #3
Rainmaker
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO

Cindy

It's a shame that our veterans having the housing issues.

Good luck and success.

Lou Ludwig

Jan 09, 2012 10:02 PM #4
Rainer
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Susanna Haynie
CO-RE Group, LLC -Real estate sales and services - Colorado Springs, CO
Colorado Springs Realtor - GRI, CNE, MCNE, ePro

Thank you Cindy, for this information on VA Compromise Sale option. I will actually look into this for myself as we 'got stuck' with our home at our last duty station. It would be nice not to have that on our back.

Jan 09, 2012 11:16 PM #5
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Russell-military families aren't given a choice about moving.  After all of the double and triple deployments in the last few years getting some assistance to help them sell their homes seems the minimum of what their lenders should do.

Jan 10, 2012 06:58 AM #6
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Brenda-a short sale or VA Compromise Sale isn't what a family may want to do but losing money every month on a home when they have no choice to move can have a major finanical impact on a military family.

Jan 10, 2012 07:00 AM #7
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Richard-since other lenders are providing cash incentives for moves it's nice to see the VA following suite.

Jan 10, 2012 07:01 AM #8
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Lou-it's a shame anyone has to face a short sale and certainly it's tough for military famiilies.

Jan 10, 2012 07:03 AM #9
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Susanna-congratulations on your husbands retirement.  I'm sure that's a change!  If you have a VA loan a Compromise sale may be an option for you.  Were you eligible for a DoD HAP Sale?

Jan 10, 2012 07:11 AM #10
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Good Morning Cindy, that is great news for our vets that they have assistance. This is a very well written blog that will reach those in need. Especially our American Heros. Have a great Tuesday.

Jan 10, 2012 10:18 AM #11
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Scot-thanks for your positive comments.  Just trying to get the word out for any service member who is qualifed for the new benefit.

Jan 10, 2012 01:25 PM #12
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Cindy Jones

Pentagon, Fort Belvoir & Quantico Real Estate News
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