A very good blog about Veteran Administration Compromise Sale Program

Via John Newman (Keller Williams Flagship):

Many of our clients Active Duty and therefore are PCS'd quite often.  Unfortunately, if my clients purchased a property in the past several years and now are PCS' ing to another part of the country they are stuck with a house that they cannot sell, because they owe more than the house is worth.  Well The Department of Veterans Affairs has a Compromise Sales Program that allows these individuals to sell their properties anyway.  Below are several key features to the program:

  • There must be a documented hardship on behalf of the homeowner
  • Homeowner must list the property and procure a contract of sale
  • Sales contract must be contingent on approval of a VA Compromise Sale
  • A Compromise Agreement Sale Application must be completed
  • Property must be sold at Fair Market Value

For more information on the VA Compromise Sale Program feel free to give me a call at 301-343-7671 and I would be happy to send you the entire package from the VA.

 
Posted by JOHN PUSA 01044712 on 03/03/2010 11:00 AM   Comments (0)  
Originally posted at: My New Outside Blog: VA Compromise Sale Program
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