1137 Bay Court, Bayview Manor, Destin Florida, was just approved as a VA Compromise Sale.  The VA Compromise Sale program is helpful for homeowners who have a VA mortgage, and fall into financial hardship.  Like a short sale, it allows the borrower to sell their property when the market value is less than the remaining loan balance.  Here are the details of this Destin Florida VA Compromise Sale:

Mortgage holder: Bank of America

Original VA Mortgage: $262,000 appr

Current Market Value: $238,000 appr

Time for Approval: 80 days

Short Sale Deficiency: none

Bank of America’s processing of VA Compromise Sales can take longer than other short sales. Why? They have fewer “negotiators” who can handle these type of files. VA short sales are not processed through Equator, which Bank of America uses for non-government short sales. Many Eglin Air Force Base or Hurlburt Field service members have VA home loans. When faced with a required PCS (permanent change of station), in a down real estate market, they can use the VA Compromise Program to avoid foreclosure. Other options are the military’s HAP (Homeowner Assistance Program), traditional short sale, renting out the property, or bringing cash to cover the deficiency.

Do you have questions or need help with a potential VA Compromise Sale in Destin Florida or the surrounding towns of Crestview, Niceville, Navarre or Fort Walton Beach? Email me at itswendy@rulnickrealty.com

The post Destin Florida VA Compromise Sale Approved by Bank of America first appeared on Rulnick Realty.

Beautiful short sale home in the heart of Destin Florida in Bayview Manor. The yard is a dream – deep, with lovely trellises, and a big screened porch to enjoy it all. Inside you’ll find contemporary flair with cathedral and trey ceilings. Fun kitchen with a tile center island and creative track lighting. Much of the flooring is tile. Berber carpet upstairs and in all 3 bedrooms. Nearby – Joe’s Bayou to launch your boat or bring your fishing pole.  Also, nearby, Destin Harbor, shopping and great places to eat.

This Destin Florida home is a VA Compromise Sale with one mortgage.

1137 Bay Ct., Destin FL – Bank of America short sale – offered for $237,900

What is a VA Compromise Sale?

Why should I VA Compromise Sale?

VA Compromise Sale Q&A

The post 1137 Bay Ct., Destin Florida – VA Compromise Sale first appeared on Rulnick Realty.