Friday, August 21, 2009

Saxon Mortgage Approves Short Sale in Santa Rosa Beach FL

This is not your average approval for a short sale property in Santa Rosa Beach Florida from Saxon Mortgage. The junior lien, Citi Mortgage is owed about $99,000 and requested $24,000 to release their security interest.
"Ha!" You laugh, "$24,000?" That is insane! But Saxon Mortgage agrees to pay Citi 10% of their outstanding balance, or $9,946. Of not happy note, is the statement that any extensions beyond the approved closing date will result in 1% commission cut. That is fascinating, as I will try to prevent hurricanes or other acts of G-d that might delay a closing!

It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: [email protected]

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