If you purchased or refinanced your home with a VA loan and now you’re having trouble making payments or need to sell, instead of completing a short sale you’re able to do a VA compromise sale. One of the unfortunate things I see is real estate agents that don’t understand the dynamics of a VA loan and how the compromise sale works; it’s very important that when you’re looking for someone to help you sell your home you hire someone that does understand these things.
A couple of the things about a VA loan the many real estate agents don’t know or understand is that if you’re an active duty service member and are PCSing to another place the odds of them allowing you to do a short sale on that home with your payments current are extremely high. I never say it’s a sure thing but it’s probably pretty close to that. One of the other things about VA loans and the compromise sale program is that there is a small relocation incentive of $1500 that they allow. When the real estate agent is handling your short sale they have to ask for the relocation incentive; it’s not something that the VA will automatically give you.
There are a lot of other nuances such as how they go about doing appraisals, how they set the selling value of your home, all of these kinds of things that I would love to talk to you about. I’ve completed dozens of VA compromise sales and I’d love the chance to talk to you more about it. Please fill out our short sale request form or pick up the phone and give us a call because we’d love to talk to you about your situation and help you complete a VA compromise sale on your home.