Larry Gray (lgray_312_247)
#1 ranked lender in California - 984 contributions
There are various reasons acceptable by the VA, all of which fall under financial hardship. You must negotiate an agreement with the lender for a short sale and in negotiating the lender agrees to accept less than the money owed. With a VA HLC HAP loan you likely would have to pay missed payments, but with a VA HLC (non HAP) you would not.If you are an active duty, retired or service related disabled military personnel or a civilian DOD employee, you may qualify for mortgage assistance for veterans. In this case, you will receive free military mortgage / VA foreclosure help at no cost to you. You do not need to have a VA loan to apply. You do however, need to have prior military service or be employed by the Department of Defense. To apply for for the foreclosure help for military program, call 888-573-4496 option 2.