Author Archives: Hunter

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Deeds, Deeds of Trust, and Promissory Notes

Hanger Law provides Deed drafting services including Deeds of Bargain and Sale, Quitclaim Deeds, Gift Deeds, and conveyances.

We also draft Deeds of Trust along with Promissory Notes for private lenders. Please call us to discuss your situation.

Hanger Law revamps website, adds Twitter feed

We hope you enjoy the new and improved HangerLaw.com. We will continue to make changes to the website including an up-and-coming “Feedback” section. We are constantly figuring out ways we can improve our law practice and our website is an essential element. Also, follow us on Twitter @HangerLaw

Paralegal Trenace McCoy to join Hanger Law!

Hanger Law is thrilled to welcome Trenace McCoy to our growing team! Trenace brings over two decades of real estate experience to Hanger Law. Not only is Trenace a highly qualified paralegal, but she has also worked as a loan closer, collections paralegal and brokerage administrator. Her experience working in real estate brokerages, law firms, and for national lenders gives Trenace a rare depth and breadth of real estate acumen.
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Ultimately, Trenace’s greatest pleasure comes from educating new homeowners and coordinating smooth, timely, and stress free closings. She can be reached at: trenace@hangerlaw.com or at: 757-351-1510.

Department of Veterans Affairs Compromise Sale Program (“VA Short Sale”)

Hunter Hanger has negotiated VA Compromise Sales with Bank of America, Wells Fargo, BB&T, Fifth Third Bank, Green Planet, USAA, Ocwen, Nationstar, NFCU, Suntrust, Chase, and a handful of other mortgage companies. They are actually the easiest type of short sale to negotiate, because the VA sets clear standards all servicers must follow when working with a Veteran.va-pic

Many Active Duty Servicemembers are concerned that their security clearance prevents them from short selling their home. They have never missed a payment in their lives and can’t imagine the thought of not paying a debt. Thus, a short sale seems out of reach for them. Even if it was accessible, they would not do one because they’ve heard there are credit consequences.

However, the VA has instituted policies that insulate Servicemembers from many of the negative outcomes of a short sale. Firstly, there is an exception carved out for active duty Servicemembers in the typical requirement that a borrower be at least 30 days late on his/her mortgage in order to short sell. If you are active duty, you do not have to be late on your mortgage to qualify for a short sale.

Furthermore, if you were recently discharged from the military, or have PCS orders, you easily qualify for a hardship, as well as if you’ve suffered any of the conventional hardships (job loss, transfer, excessive debt, divorce, etc). You can still use your VA loan in the future to purchase a house. Just remember your eligibility amount will decrease by the amount forgiven on your short sale loan.

Hanger Law always advises a Servicemember alert their Commanding Officer or superior of their need to do a short sale. Remember, in a short sale, debt forgiveness is the aim. There will always be a slight credit impact when debt is forgiven by the bank.

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