It's About Time! Great news for many Military Families PCSing. A short sale is now a viable option without the credit hit, thus protecting your security clearances. Here are the conditions:
1. Purchased your home on / before June 30, 2012.
2. Fannie Mae or Freddie Mac backed loan. See link below to verify if your loan is one of these.
3. In receipt of PCS orders.
You can continue to make your payments and short sell your home, assuming it is in fact underwater. Fannie Mae / Freddie Mac will NOT pursue a deficiency judgment nor cash contribution or promisary note! The complete FHFA announcement is the link below.
This of course means that you won't incur the credit hit and concerns about the security clearances!
Would you agree that this is LONG overdue for our warriors and families?
If your are contemplating this option, call VR SAM today. 703 754-3036. firstname.lastname@example.org