One of the key differences between a typical short sale and VA Compromise Sale is the disposition of the deficiency.  According to the VA website, “ If your loan closed on or after January 1,1990, you will owe the Government in the event of a default only if there was fraud, misrepresentation, or bad faith on your part.” So, in most cases, you will not have to pay back the difference between the net proceeds and your outstanding balance.

Another difference in the VA Compromise program is the length of time the VA appraisal stands. With most short sales, the servicing lender will order a valuation (either an appraisal or broker price opinion), that will be valid for two to three months. In the VA Compromise program, the valuation, conducted by a VA certified appraiser, is valid for six months.  That is not always good, especially in a declining market.  So if a sales contract does not get approved, the targeted price will have to stand, and not be adjusted even if competing properties are priced lower.

This home in Lighthouse Pointe had a Bank of America mortgage.  VA delegates the loan servicers to handle the compromise claims for them, so there is no need for the homeowner to contact the VA directly.  This approval only took 30 days!

If you need to sell your Navarre Florida home as a short sale, HAP or VA Compromise Sale, contact an experienced Navarre short sale agent.

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call (850) 650-7883

The post Lighthouse Pointe, Navarre FL – Approved VA Compromise Sale first appeared on Rulnick Realty.

A “homey” Lighthouse Pointe short sale home in Navarre Florida with brick fireplace, wood laminate floors, interesting angles, plant ledges and high ceilings.  Kitchen and dining areas are tiled along with both bathrooms in 2007. Kitchen counters expanded with added cabinetry and workstation. Other improvements are new carpet, well and sprinkler.  This Lighthouse Pointe short sale home in Navarre FL has a huge lot at end of cul-de-sac with fenced back yard. Excellent location for commuting to Hurlburt Field. Gulf of Mexico, Santa Rosa Sound and East Bay nearby for fishing, boating, sunning and swimming.

6542 Watermark Cove, Lighthouse Pointe, Navarre FL – 32566 – VA Compromise Sale – offered for $109,900

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Navarre FL Real Estate

Navarre Short Sales & Pre Foreclosure Help.

The post 6542 Watermark Cv, Lighthouse Pointe, Navarre FL – VA Compromise Sale first appeared on Rulnick Realty.