VA Update to Private Roads and Shared Driveways VA has announced that effective on and after 11/25/2022, they will no longer require the borrower to obtain a joint maintenance agreement when one doesn’t exist for properties that are accessed through a private road or shared driveway because it creates an undue burden on the veteran.
A recorded permanent easement or recorded right-of-way to the property from the public road is still required to ensure the veteran has legal and continued access to the subject property. VA underwriters are no longer required to mark item 5 of the NOV as it will no longer apply. Please refer to the Property Characteristics and the Appraisal Requirements, Forms topics for complete guidelines
Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
10602 Timberwood Circle
Louisville, KY 40223
Company NMLS ID #1364
Text/call: 502-905-3708
fax: 502-327-9119
email: kentuckyloan@gmail.com
http://www.mylouisvillekentuckymortgage.com/
The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people.
NMLS ID# 57916, (www.nmlsconsumeraccess.org).
KENTUCKY VA MORTGAGE LENDER 