Posted by NJDave on March 20, 2000 at 14:18:33:
The note isn’t being sold, it’s the property that is being sold (proceeds less than payoff) with lienholders’ approval. And it works like any other short sale except that VARO approval is required in addition to the mortgage servicer. Motivation? Bird in hand theory.
Short Sales - Posted by BR
Posted by BR on March 19, 2000 at 14:14:58:
Is it possible to do a short sale on a VA property?
Re: VA Short Sales - Posted by NJDave
Posted by NJDave on March 19, 2000 at 15:04:22:
Yes. I’ve done several.
Re: Short Sales - Posted by Glenn-OH
Posted by Glenn-OH on March 19, 2000 at 14:32:55:
Try a PACTrust.
Glenn
Re: VA Short Sales - Posted by Ben in Ohio
Posted by Ben in Ohio on March 20, 2000 at 07:53:33:
How does a short sale work with a VA loan? The loan is backed by the VA so why would there be an incentive for the note holder to sell the note at a discount?
Question Dave… - Posted by BR
Posted by BR on March 19, 2000 at 15:42:27:
Usually there is a lender foreclosing a VA insured loan. I have run into one where it is the USA filing on the defendant as opposed to the lender filing. What do you make of this? Thanks! BR