Virginia Short SaleThe Virginia Short Sale List is dedicated to helping buyers of Northern Virginia short sale real estate to find the VA short sale property they are looking for. We also use this site to help confused homeowners in Northern Virginia to understand how a VA short sale works and give them access to information related to the effect of a VA short sale on their credit and their finances as opposed to a foreclosure. Please continue reading if you wish to know more about Virginia Short Sales. Virginia Real Estate investors: While Virginia Short Sales are many times a more lengthy process, they are typically an excellent way to purchase property at a fairly deep discount to market value. IMPORTANT INFORMATION ABOUT NORTHERN VIRGINIA SHORT SALES Sellers of Virginia property who are typically in serious financial trouble can dodge the bullet many times by not re-affirming the debt to the bank in the short sale at the time of the transaction. Having a good attorney handle the transaction will cost you nothing because the law firm can make their fee a line item in the hud-1 settlement. We know how to do this. Here is a link to a Virginia Bankruptcy Lawyer that will handle the legal part of protecting you in the Virginia short sale process. Banks and other lenders are finding out the reality is, most of the people short selling their Northern Virginia property DO NOT HAVE THE MONEY to pay for a deficiency judgment, so even if the property owner reaffirms the deficiency the bank is simply going to sell the debt to a debt collector for pennies on the dollar who will negotiate a settlement with you for nickels on the dollar. You will find in a Virginia Short Sale that your credit will not be affected as much as if you allow a foreclosure. In fact you can purchase a home again in as little as 2 years when you short sale. The banks and credit reporting agencies see a short sale as a much more responsible transaction as the homeowner is helping the bank to take money off the table as opposed to a foreclosure where you are simply throwing your lender under the bus. A homeowner who allows foreclosure is ineligible for a Fannie Mae backed mortgage for a period of 5 years. A homeowner who opts for to short sale their VA Property is eligible in 2 years. On form 1003, the initial application for a loan someone who has been foreclosed on must answer yes to question C in section VII “Have you had a property foreclosed upon or given title or deed in lieu thereof in the last 7 years?” There is no similar question related to Virginia Short Sales. Virginia Short Sales ARE NOT REPORTED ON YOUR CREDIT, the loan is reported “Paid in Full, settled”
WE'LL DO THE SEARCH FOR YOU. Or, you can gain instant access to our entire database of Northern Virginia Property listings by clicking here www.VirginiaInvestmentProperty.com this is our main Northern Virginia Real Estate site. and see ACTIVE home listings of all types of Properties in Northern Virginia. Agents can show all of these homes. Tour these pages which describe for you the market for homes and real estate in Fairfax County, Virginia. With the growth of the high tech industry in Northern Virginia and the fact that a huge percentage of the Northern Virginia population is on the federal payroll. Northern Virginia homes, even now during this economic recession sell very quickly. Get the help you need to find the very best home for your money in the Fairfax County real estate market. Search the comprehensive MLS for Homes for sale in Fairfax County here. Click Here or see the Virginia Short Sales by area below in both Fairfax and neighboring areas from the list of pre-selected Northern Virginia Short Sale Properties below.
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