If your short sale involved a VA-backed mortgage, the portion of your VA entitlement utilized on that loan will be inaccessible moving forward. But you may have enough remaining entitlement â also known as second-tier entitlement â to purchase again without the need of a down payment.
PRIVILEGE, rights. This word, taken its active sense, is a particular law, or a particular disposition of the law, which grants certain special prerogatives to some persons, contrary to common right. In its passive sense, it is the same prerogative granted by the same particular law.
prerogative. 1  A hereditary or official right or privilege. 2  A right, or power that is exclusive to a monarch etc, especially such a power to make a decision or judgement. 3  A right, generally. 4  A property, attribute or ability which gives one a superiority or advantage over others; an inherent advantage or privilege; a talent.