VA loan is in foreclosure and seriously underwater. Ex-husband is primary since he's the veteran. Loan and deed are in both my name and ex-husband's name. There has been no settlement of the community property. My 14-y/o son and I live in the home, which is in Louisiana. My ex (father of our son) lives in Michigan and simply decided to stop paying the note, without even warning me. My ex wants his name off both mortgage and deed, so he will not be likely to agree to a loan mod. The only other options available on VA loans, according to Citi, are short sale and deed in lieu. Does anyone know of any other options on VA loans? Are VA loans not eligible for principal reduction?
My son and I are currently living in limbo. I'm waiting for the public sale to be set. I'm so tired of fighting this battle, but if I can avoid uprooting my son, I'm willing to consider any other possible options to save our home.
Any advice or assistance will be appreciated.