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.
2. (Government, Politics & Diplomacy) (sometimes capital) a formal document granting or demanding from the sovereign power of a state certain rights or liberties. 3. a document issued by a society or an organization authorizing the establishment of a local branch or chapter. 4. a special privilege or exemption. 5.