Veteran Short Sales his house keeps his VA Eligibility
When I moved my office into Winter Springs Centre, in Winter Springs, Florida rented a unit right next to the Eagles Club. The Eagles Club also known as The Fraternal Order of Eagles, The Fraternal Order of Eagles is an international non-profit organization uniting fraternally in the spirit of liberty, truth, justice, and equality, to make human life more desirable by lessening its ills and promoting peace, prosperity, gladness and hope.
I joined the Aerie Eagles Club #4449 which has many members including many veterans. I liked the club because it was a private club, helps so many charities and the fact that it is right next store to my office. I still can remember one of the first times I was in the club and they had the music playing and was questioning “I wonder who is moving in next store?” Someone asked to turn up the music and the bartender said “no” out of respect of the new neighbor. I laughed and said who cares about that new neighbor they won’t care, turn up the music. However, they wouldn’t turn it up until I said I am the new neighbor and I like music please turn it up. That was a beginning of a great friendship with the members of the Aerie Eagles Club #4449.
The more I went into the club, the more questions members would ask about foreclosure versus short sales and how it would effect a veteran and their eligibility. Even though I had done well over 500 short sales, I had never done a VA short sale before and didn’t know what would happen when I did. Now I do know. Here is the the story: I recently represented a Veteran, Patrick, who didn’t know what he was going to do with his house. He had purchased a manufactured home on land for $125,000. He was in foreclosure and very frustrated about the situation. His hours were cut from his place of employment and on top of all the craziness his wife and him separated. The house was in bad shape. There was a lot of water damage by the front bay window causing interior and exterior damage. The value of the home with the land was $25,000.
I tried putting Patrick through the HAFA Program and he was denied the $3,000 because he had vacated the home. However, I did get the bank to agree to the short sale and not go after him for the difference. So, he received a full satisfaction of the loan on his home. I was at the club tonight when he told me that he recently received a letter from Veterans saying “That he still has his eligibility to purchase another home however, could not use that eligibility certificate for 6 MONTHS.” I was so excited for him as 6 months is nothing! He even told me that his credit increased by 15 points because the loan was now paid off. He told me that he can now sleep at night thanks to me and in the future, not that he wants another house now, he can use his VA Eligibility when he wants too.
I told him that if you short saled a FHA loan that the homeowner won’t be able to get another FHA loan for at least 2 to 3 years and that 6 months was great. So, if there are any Veterans out fighting the stress of foreclosure and wondering if they should do a short sale versus foreclosure, I am suggesting that a short sale is better. Why lose your VA Eligibility Certificate when you fought for our country and you deserve to keep it!
Thanks to all the veterans in this world we love you and should you have any questions or need my assistance, call me at 407-888-3433.
Kimberlee Frank Broker Short Sale Expert
Kimberlee Frank is known as “The Real Estate Junkie,” for her unique ability to find ways to creatively help buyers and sellers no matter which direction the real estate market is heading. Kimberlee had already worked as a legal administrator for an Attorney, Builder and Broker for 18 years when she began her Real Estate career in 1998. She dotted the i’s and crossed the t’s on hundreds of real estate transactions and thousands of documents, making her an expert in real estate documentation. Kimberlee’s success began in Fenton, Michigan. She specialized in selling, purchasing, renovating, retailing and lease optioning single-family homes. She has helped many sellers get rid of their “headaches” and helped many buyers find their dream homes!
Since 2003, she has specialized in foreclosures and short sales. After realizing how many families were being forced out of their homes due to financial difficulties, Kimberlee had a heartfelt obligation to use her experience to help those families. She has mitigated and closed over 500 short sales with the mortgage companies, saving Sellers from going into foreclosure. In 2006, Kimberlee and her family moved to Florida. She lives in Oviedo and her Sell Fast Realty Office is in Winter Springs, serving residential and commercial sellers and buyers in multiple counties in Central and Southern Florida.
Kimberlee is also a Trainer and Mentor and has created several different “How To” systems on real estate. Her unique strategies continue to educate real estate professionals across the country. If you have a proven system to help others out of hardship, why wouldn’t you duplicate it and share it with as many people as you can? Kimberlee continues to work with this philosophy!
Kimberlee Frank has been featured on ABC, NBC, FOX, CBS as well as Wall Street Journal, Newsweek, USA Today and numerous other publications. She is the bestselling author of “Big Ideas for Your Business” (Advantage Media 2009). She was also selected as the #1 Short Sale Expert by America’s Premiers Experts.
Please contact Kimberlee at her office at 407-888-3433 to schedule a Free Facts About Foreclosure Seminar. She has numerous testimonials from sellers, buyers and other real estate professionals who are familiar with her giving heart. Whether it is 1 person in need or 1,000…..Kimberlee will educate them on real estate and give them a solution with a peace of mind!
Are you unsure what to do with your house? Do you need to educate yourself about your options. Click the following link Free Facts About Foreclosure for more information.
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