VA Home Loan Centers Announces Increase in 2012 Q4 Short Sale Applications

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VA Home Loan Centers reported a 34% increase in short sale applicants during the fourth quarter of fiscal year 2012. Although some areas have seen an increase in median home prices, many homeowners are still underwater.

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Due to the culture of responsibility that the Armed Forces demand, VA home loans have the lowest default rate. Although the default rates are lowest of any mortgage product, there are many (underwater) borrowers who have a forced relocation due to PCS.

VA Home Loan Centers reported a 34% increase in short sale applicants during the fourth quarter of fiscal year 2012.

The dramatic increase of short sale applications has been attributed to what is commonly being referred to as “The Great Recession.” In response, VA HLC HAP, the military short sale program, implemented valuable resources for those in need of VA loan assistance.

“Due to the culture of responsibility that the Armed Forces demand, VA home loans have the lowest default rate. Although the default rates are lowest of any mortgage product, there are many borrowers who have a forced relocation due to PCS (Permanent Change of Station) or a transition from military service to civilian life. In addition to this, there are many veteran borrowers who are not active duty but face some type financial hardship and must sell their home. Unfortunately, many of these borrowers owe more on their home than the current appraised value. These homeowners can count on the Veterans Administration guarantee and VA Home Loan Centers to help them safely avoid a financial catastrophe.”

The VA Home Loan Centers short sale program is open to all active duty and former duty military personnel, as well as their families. Short sale VA loan options may alleviate the financially burdened and other distressed borrowers who are unable to maintain their mortgage payments, especially those who are further discouraged by the reality of negative equity. Knowledgeable representatives readily explain and answer questions about military short sale or VA loan short sale and other options that may potentially benefit struggling homeowners.

Additionally, borrowers are not required to have a VA loan to participate in the program. Likewise, qualified homeowners needing support with any other type of VA loan assistance are encouraged to apply. Although not every program will work for every situation, there are many distinct solutions that can provide the necessary assistance. While it may take some patience, homeowners should remain diligent in the search for the best option based on their unique criteria. Armed with education and viable choices, homeowners are empowered to make better decisions than they even thought possible.

The military short sale program (VA HLC HAP), is a unique service offered with no out of pocket expenses to the homeowner.

About VA Home Loan Centers (http://www.vahomeloancenters.org):

VA Home Loan Centers (VAHLC) is a leading provider of VA loan support and real estate representation. VAHLC provides the following comprehensive services: Military short sale assistance, home buyer and homeowner grants, buyer and seller fiduciary, VA mortgage application processing, and a large variety of other possible opportunities related specifically to veteran mortgage services.

For more information on how VA Home Loan Centers can help assist throughout the home ownership process, contact them at 888-473-5596 or visit them online where you can click to chat live with an experienced representative at http://www.vahomeloancenters.org/contact-us-2/.

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Phillip Georgiades
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