This short sale home at 497 Managua Way, Mary Esther Florida, is under contract as a VA Compromise Sale with a PHH mortgage. Mary Esther, located near Navarre’s Hurlburt Field and Fort Walton Beach’s Eglin Air Force Base, is a military community that offers access to the beaches of the Gulf of Mexico, boating, golf, shopping and major airports. This property backed up to Eglin reservation for privacy.
What is a VA Compromise Sale? It is the Veteran Administration’s version of a short sale. One important point about a VA Compromise Sale is that you must have a hardship. What is a hardship? It could be PCS (permanent change of station), divorce, job transfer, medical expenses, death of a breadwinner, unemployment, reduction in pay and more.
With a VA Compromise Sale, a portion of your VA entitlement won’t be available for a future home purchase unless you reimburse the Veteran’s Administration. You may still have sufficient entitlement remaining to buy another home with a VA loan, however. You can find out by calling the VA directly. Another point is that your credit will be affected with a VA Compromise Sale. It may be recorded as “settled for less”. Your FICO score could drop 50-200 points. It may take you a couple of years to rebuild your credit.
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: [email protected]
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Wendy Rulnick, Broker, is a short sale and pre-foreclosure specialist and has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”. She has successfully helped hundreds of families avoid foreclosure through short sale along the Emerald Coast of Florida. Wendy Rulnick is knowledgeable in all aspects of short sale, including VA Compromise Sale, FHA HUD pre-foreclosure sale, HAP military PCS, HAFA, Bank of America Coop program and more. She is also co-founder of www.ShortSaleSuperstars.com and short sale instructor to agents across the United States. Wendy Rulnick sells real estate in Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Panama City Beach, Eglin AFB, Hurlburt Field.