Personal Finance Question

[jim85213]

Does the Navy have an issue with short sales on homes? Because of the wonderful state of the housing market and our amazing timing in buying a home, that may be our only option upon graduating from dental school. I know it's a random question but it didn't know where else to ask.

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[jim85213]

Does anyone at least have a clue about who I could contact to find an answer to this?

 

[umkcdds]

as long as it's all legal, and all your financial obligations are met, the navy shouldn't care what you do to your own credit rating. if your lender signs off on it, there shouldn't be any problems.

i'd try looking for an incoming dental student to rent it to first.

 

[krmower]

as long as it's all legal, and all your financial obligations are met, the navy shouldn't care what you do to your own credit rating. if your lender signs off on it, there shouldn't be any problems.

i'd try looking for an incoming dental student to rent it to first.

Before you look at short sales or foreclosures - the military has a program out there for people who have to move due to a PCS move and are going to take a loss. I am sorry I can't answer specifics - but here is the link.

http://hap.usace.army.mil/homepage.html

 

[jim85213]

Good stuff, thanks for the replies.

 

[eric275]

Before you look at short sales or foreclosures - the military has a program out there for people who have to move due to a PCS move and are going to take a loss. I am sorry I can't answer specifics - but here is the link.

http://hap.usace.army.mil/homepage.html

This program does not apply to members coming on active duty from HPSP. I called and asked about it, I was told that you had to be on active duty orders when you purchased the house and then again when you left the area your house is in.

 

[jim85213]

This program does not apply to members coming on active duty from HPSP. I called and asked about it, I was told that you had to be on active duty orders when you purchased the house and then again when you left the area your house is in.

Bummer. Good to know though, thanks.

 

[spc213]

To the best of my knowledge, no one runs a credit check on you before you enter active duty.

Your credit/financial history can become an issue if you were to seek a security clearance higher than the standard "secret" clearance that all officers start with. However, I don't know any dentists that have or need one.