Another Mr. Cooper short sale approval in Jacksonville, Florida!
When this Jacksonville vet used his VA loan to buy a home, he never expected the market to take a turn down so quickly after!
VA short sales in Jacksonville have become more common lately, as many who bought during the peak of the market now find themselves owing more than their homes are worth!
When this homeowner was transferred to Texas, he found himself stuck in a home he had no equity to sell as the Jacksonville market had taken a downward turn. Thankfully VA offers a predictable short sale process, and he decided to cut his losses and move on.
The VA short sale process!
The VA offers a short sale program, sometimes knows as the VA Compromise sale. These short sales can be very predictable and are usually reasonably quick. Although this particular VA loan was being serviced by Mr. Cooper, the lender is still required to follow the guidelines of the VA short sale process.
Mr.Cooper VA short sale success!
Although it took longer than expected to find a buyer for the home in the changing Jacksonville market, once a strong buyer was secured, the short sale process was fairly straightforward. Mr. Cooper moves at a decent pace, so our short sale was quickly reviewed, and an appraisal was ordered. The short selling lenders appraisal came in a tad higher than expected, but after a few rounds of negotiation a solution was reached. Soon after our short sale approval letter was issued, the parties proceeded to close, and the seller walked away from his upside down Jacksonville home in this Mr. Cooper short sale success!
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It was a pleasure working with Minna and her team. From the beginning to end, she was there to guide me in the right direction. She does what is best for her clients and will go above and beyond to make sure the whole process is as smooth and it can be. I can't thank her enough for all her help and guidance during the sale of my property.
w.s.
Last Updated on July 28, 2025 by Minna Reid