Alexandria VA CDPE Agent Gets VHDA Condo Approved

Alexandria VA CDPE Agent Gets VHDA Condo Approved

Alexandria VA Short Sale Help - Helping homeowners avoid foreclosure is my #1 priority. When a homeowner is facing a financial hardship and decides to contact me for help, odds are that they've exhausted their savings and are stressed to the max about what to do.

Today, more people are familiar with the phrase 'short sale', but don't know how to go about getting help.  The homeowner at 8 Van Dorn Street Unit 602 was referred to me because of my experience with getting short sales approved and closed.  This property was a VHDA (Virginia Housing Development Authority) short sale, meaning the homeowner purchased a property with a VHDA loan, which is strictly for first-time buyers.

If you own a home in Alexandria VA with a VHDA loan, you must first complete their borrower information packet to be approved to participate in the short sale program.  The advantage to working with VHDA is they are located in Richmond, Virginia and their Loss Mitigation representatives usually respond within the same business day. 

We were previously under contract with this unit, but our first buyer backed out after the appraisal came in higher than the sales price.  The buyer did not agree to the VHDA counteroffer, so the buyer was released from contract, and the property went back on the market.  After a few days, and additional showing, buyers were showing interest again, and we received two offers.

VHDA approved this short sale within 10 business days, and the approval was granted without money out of pocket from the homeowner!  A real win-win.

If you have fallen behind on your mortgage payments, you don't have to walk away and face foreclosure.  Walking away from your mortgage doesn't mean you're free from the debt, it could follow you and the bank may have legal recourse to hold you responsible for the remaining balance of your loan.  A short sale may be an option for you.  It's written permission from the bank that you are no longer obligated to the debt.  You don't have to lose sleep or wonder if you're going to get 'that letter' in the mail saying that you owe thousands of dollars plus a boat load of fees.

Be sure to visit my Short Sale website, or call/text me today at 703-623-8759 for more information.