Will VA Waive Deficiency Judgement?
Does anyone have any experience with SS a VA loan? If we get the bank to agree to waive a deficiency judgement, is there still an issue with the VA? Will they hold the homeowner liable for the amount that is insured?
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As I recall, in a VA Short Sale (called a compromised sale) the VA withholds &/or restricts the Vet's benefits.... unless or until the deficiency is cured. The restriction is probably limited to mortgage loan insurance, but it's best for the Vet to call his local VARO's housing officer and ask.