Question Details

Julie Jordan…, Home Buyer in Tracy, CA

Would banks be more likely to accept a VA loan or not for a short sale property?

Asked by Julie Jordan Bowers, Tracy, CA Wed Aug 20, 2008

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Honestly, the type of financing isn't going to be the dominant factor in whether a bank accepts an offer on a short sale. The big question is whether the bank is willing to write off the debt at all and take any offer for less than the mortgage value.

Others here on Trulia Voices have asked whether they are advantaged/disadvantaged by a VA loan since it's 100% financing. About the only real issue that can arise with VA is the condition of the property could be a limiting factor. If a great deal of work is needed ... the type of work required before VA will finance ... then the lender might look twice at a VA LOAN.

Outside of that, your chances of acceptance are no better or worse going with VA.
0 votes Thank Flag Link Wed Aug 20, 2008
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