VA Guidelines Create Problems
December 23, 2010 / /
http://kevinandfred.com/power-hour/formula-for-successva/
Kevin and Fred discuss the difficulty of dealing with VA loans.
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HOW TO CLOSE AT LEAST 3 DEALS IN YOUR NEXT 90 DAYS
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About the Authors
Kevin Kauffman & Fred Weaver
Kevin and Fred the founders of Group 46:10. Over the last 10 years Kevin and Fred, and their team have closed tens of millions in real estate all over the country and have created some of the best training for agents in the market. Kevin and Fred are also highly sought after teachers whose work has helped agents all over the country build their own next level real estate business.
Oh did this one hit home today! I have 2 VA shorts in limbo because of the 1981 valuation rules.
Both properties had fair market offers based on all comps but they won’t take the 40% distressed properties in the area into consideration. Even the buyer’s loan officer said if they offered the counter from VA, the new loan would not go through because their appraisal would consider FMV.
After several outback options at both servicers (Wells & B of A) I have come up empty.
I will be a part of a communication campaign to change this out of touch with reality policy.
Where do I sign up?