Regional Loan Center Release No.  03-06 and Exhibit A and Exhibit B

The VA Regional Loan Center listed below has issued a new information bulletin concerning expenses for preservation of security.  

Manchester Regional Office : Loan Guaranty Information Letter 26-03-06, superceding 26-02-11

To view the new letter itself:
http://www.vba.va.gov/ro/manchester/lgymain/localreleaselsc26-03-06.doc

The allowable for debris removal has been increased from $35.00 to $100.00 per load, with a load defined as a 1/2 ton pickup truck. Debris removal guidance now reads as follows:

Generally, cleanup of the property or removal of debris will be the responsibility of VA once the property is conveyed following a foreclosure sale.  A holder should only proceed to remove items or materials that are considered to be health or safety hazards.  Personal items such as furniture and appliances should not be removed.  Reimbursement for debris removal is at the rate of $100 per load, with a load defined as a ½ ton pickup truck.  Additional cleanup will be done only if there are existing violations against the property.  For reimbursement, such cleanup must be substantiated by a copy of the violations notice.

All changes appear in red type in the linked Word documents.

 WNT_RV.DOC
 WNT_CST.DOC
 SCR_RV.DOC
 SCR_CST.DOC
 LM_RV.DOC
 LM_CST.DOC
 INSP_RV.DOC
 INSPPRC.DOC
 DRS_RV.DOC
 DRS_CST.DOC
 BRD_RV.DOC
 BRD_CST.DOC

Please note, the following summary is provided for general information purposes, and as a convenience to our clients and friends.  It is not to be considered an official  publication of VA regulations or provisions.