We are currently upside down in our home. We have a VA loan. We are wanting to sell. How do we handle the loss?

Have you considered holding the property as a rental? If you can qualify with the new property's debt, you current non housing debt and your existing housing debt, you may be eligible to purchase a new home. You would need to consider another loan program such as FHA with 3.5% down. I can help you go over this on the phone or offline via a direct email message. Thank you and good luck!

You cannot add your negative equity from a sold home into a new home.. no way!!.. if your upside down, you can sell the property and bring cash to the table to handle the negative, or you can short sell the home, however with a short sale, you won't be able to get another mortgage for at least 2 to 3 years after.. If you attempt to rent the home, then the lenders have some pretty strict guidelines in place to be sure you're not attempting to "buy and bail"... so unless you have a verifiable history of rental experience, or enough income to service all your debt including both mortgage payments, then the lender isn't going to allow possible rental income to be considered.. You can also sit tight and wait for the value to rise before selling..!! I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Try to get a non occupying co borrower for you new purchase. You cannot transfer old debt to the new loan.

You will have to pay the difference if you want to sell it, and yes in cash at closing.

You might want to consider renting the house until the the value comes back up enough to cover your payoff or just a small loss.

you will need to come up with the cash at closing or get your bank to take a short sale.

Actually that is not correct, you can have more than one VA loan depending on your remaining entitlement and the computation of the old home and new home.... i have been a VA lender for 14 years and am Located in Kansas City.... call me to discuss your situation to see if you could qualify.... John 816-412-3568