Monday, September 16, 2013

497 Managua Way, Mary Esther FL,VA Compromise Sale Approved by PHH

Fort Walton VA Compromise Sale
This short sale home at 497 Managua Way, Mary Esther Florida, is under contract as a VA Compromise Sale with a PHH mortgage.  It has been approved for closing within 30 days. 
What is a  VA Compromise SaleIt 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 to be approved. 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.
Be aware that 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 it. 
More questions?
It’s Wendy!
                                                                  Rulnick Realty 

Wendy Rulnick is the marketing choice for sellers on the Emerald Coast who want to list and get their homes and condos sold in Destin, Sandestin, Bluewater Bay, Santa Rosa Beach, 30-A, Watercolor, Seaside, Rosemary Beach, Seacrest Beach, Kelly Plantation, Regatta Bay, Destiny and more.
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