Monday, October 31, 2011

Port Dixie, Shalimar Florida Short Sale Approved by Seterus - LBPS

Shalimar FL short sales
This home in the Port Dixie neighborhood Shalimar Florida has been approved for short saleThere were two mortgages,Seterus(formerly LBPS), and CCO Mortgage for a total encumbrance of about $227,000.

Senior Lien:  Seterus
Balance:  $190,000
Junior Lien: CCO
Balance: $37,000
Property Value: $140,000

This short sale was approved by Seterus in just four weeks. They allowed 6% of the junior lien balance to be paid to CCO. CCO took 120 days to approve the sale. Their reason for the delay was understaffing.  They required the seller to make a payment prior to closing.  Both lenders issued a full waiver of deficiency.  After approving the short sale, Seterus changed the locks on the house anyway.  This required a counter-lock change to give buyers access to do their home inspections.  All in a day's work.

If you are considering short sale to avoid foreclosure, contact a Shalimar short sale agent.  We can write your success story together.
It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

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Friday, October 28, 2011

9688 Misty Meadow Ln, Navarre Florida Home with Pool


The Meadows
Exquisite all brick 4 bedroom, 3 bath custom home in the upscale community of The Meadows in Navarre, Florida.  Walking into this split bedroom floor plan you'll be impressed with the large rooms and the openess of the living areas. 10 foot high ceilings, lots of windows, painted in warm colors. The back yard is an oasis with heated inground pool, spa and tropical landscaping. The living room has 20" tile flooring and plant ledges for that extra decorating touch. Huge gourmet kitchen with granite countertops, backsplashes, center work island, stainless steel appliances, pantry, plant ledges, large pass-through to the living room and a breakfast nook. Incredible! The master bedroom opens to the pool. Master bathroom features a double vanity, grante countertops and shower and garden tub. There is a large laundry room that leads to the enormous three car garage. For an energy saver there are solar powered roof mounted attic fans. Extra large gate so you can store your boat inside the gate which leads to the added on driveway pad. This Navarre Florida home in The Meadows is close to most everything Hurlburt Field and Eglin Air Force Base, Whiting FieldPensacola airport, I-10, Navarre Beach, etc!! This home is offered as a VA Compromise Sale, which is a type of short sale specific to Veterans Administration backed mortgage loans. 
9688 Misty Meadow Ln, The Meadows, Navarre Florida short sale - $294,700
The MeadowsThe MeadowsNavarre Florida short salesThe Meadows
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: itswendy@rulnickrealty.com

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Wednesday, October 19, 2011

Grove by the Sea Short Sale Approved - Promissory Note Removed


Grove by the Sea


This Grove by the Sea home near Seaside Florida in Santa Rosa Beach was just approved for short sale.  Located in a subdivision of mostly larger homes, this property needed work.  The air conditioner did not function, there was some water damage to the floors, and the landscaping was a jungle.  Bank of America had two mortgages on the property, and it had to be sold twice before final approval.  Here are the details:

Senior Lien: Bank of America  - $350,000
Junior Lien: Bank of America - $280,000
Sold Price: $319,900 appr
Cash Contribution: $2500
Promissory Note: -0-

Originally under contract several months ago with the final buyer, Bank of America countered the price significantly higher.  The buyer withdrew his offer, and the property was placed back on the market.  After the valuation expired, the price was reduced again to market value. The same buyer made another offer. This time, Bank of America accepted it.  They originally asked the seller for a cash contributionand promissory note, which is common nowadays with investment short sales.  The seller agreed.  When the final approval was issued, Bank of America removed the promissory note, and issued a full waiver of deficiency.

If you are considering short sale to avoid foreclosure, consult an attorney and an experienced Santa Rosa Beach short sale agent.
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: itswendy@rulnickrealty.com

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Monday, October 17, 2011

Holiday Isle, Destin Florida Short Sale Approved by Vericrest and SLS


Holiday Isle short sale agent


This Holiday Isle home in Destin Florida has been approved for short sale.   A large home at over 3000 square feet, and yards from the Gulf of Mexico, it was originally purchased for a million dollars in 2005.  Here are the short sale details:

Senior Lien: Vericrest Financial

Senior Balance: $845,000

Junior Lien: Specialized Loan Servicing (SLS)

Junior Lien Balance: $130,000

Contract Price: appr $450,000 - less than half the mortgage balances!

The Vericrest portion of this Destin short sale was processed on a software platform called Res.Net.  Similar to Equator, but not as user-friendly, Res.Net required me and my team to enter weekly "market" reports on the property detailing showings and market competition and sales.  At time of contract, we were required to actually upload our pre-ordered title work and provide details photos, similar to an appraisal or Broker Price Opinion.  The figures from the preliminary settlement statement (HUD-1) were entered into the system, but fields were not clearly labeled so it was difficult to figure out.  Even the Vericrest negotiator stated Res.Net was not user friendly to them, either, and asked me to directly email her several times instead of using the software.

Vericrest approved the short sale and agreed to pay SLS about $11,000 to release its lien.  Both lienholders issued a full waiver of deficiency.

Do you need to sell your Destin Holiday Isle home to avoid foreclosure? Be sure to contact an attorney and an experienced Destin short sale agent.
It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty 850-650-7883 ext 204
www.rulnickrealty.com
itswendy@rulnickrealty.com

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728 Hart Street, Fort Walton Beach Florida Home For Sale on Large Lot


Fort Walton Beach Home Large Lot
This exquisitely remodeled Fort Walton Beach Florida home at 728 Hart Street has a masterpiece kitchen and almost half acre lot. The entire house is sumptuously decorated and inviting. In 2006, the living space was expanded with a new room off the kitchen and new laundry room, as well as new roof and air conditioner, carpet, doors and hardware. The kitchen is the epitomy of elegance, where you will love the bistro alcove, solid maple Thomasville cabinets, Black Absolute granite counters and tumbled marble backsplash. The cabinets shelves are slide-out and pull-out for maximizing storage space, and they are plentiful. Top chefs will like the gas burners plus electric convection oven, and the upgraded appliances. The living room is ample and features a corner fireplace and access to a large covered deck. The home exterior was painted in August 2010. It's hard to find such a gorgeous home in central Fort Walton Beach with such a large lot, beautiful upkeep,located near shopping and a short drive to Eglin Air Force Beach.

728 Hart Street, Fort Walton Beach Florida - $177,900 

Fort Walton Beach Home Large LotFort Walton Beach Home Large LotFort Walton Beach Home Large LotFort Walton Beach Home Large LotFort Walton Beach Home Large LotFort Walton Beach Home Large Lot
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: itswendy@rulnickrealty.com

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Tuesday, October 11, 2011

Countryview Estates, Crestview Florida - HAFA Home Sold


Crestview HAFA
This short sale home at 1243 Ego Dr. in Countryview Estates, Crestview Florida just sold using the HAFA program.  What is HAFA? It is the "Home Affordable Foreclosure Alternatives" Program that is sponsored by the Treasury Department to help homeowners who cannot make their mortgage payments, need to sell and don’t have enough equity to cover the mortgage balance.
ARE YOU ELIGIBLE? You might be eligible for HAFA if your lender participates in the Home Affordable Modification Program (or your mortgage is underwritten by Fannie Mae or Freddie Mac which have slightly different qualifications).  HAMP offers you the opportunity for assistance by lowering your payments or delaying payments to keep you in your home.  You must meet the HAMP requirements as follows, to be part of HAFA, whether or not you choose a modification.  These qualifications are:
1) You have missed payments or are about to default
2) The home is or was your primary residence
3) You got your primary mortgage before Jan. 1, 2009 and your balance is less than $729,750 (higher balance on 2-4 unit properties)
4) Your property can be vacant or rented up to 12 months prior to the Short Sale Agreement (SSA), as long as you can prove the property was the primary residence and have not purchased another home in the last 12 months.
5) You must not have been convicted within the last 10 years of felony larceny, theft, fraud or forgery, money laundering or tax evasion, in connection with a mortgage or real estate transaction.
The senior mortgage holder for this Crestview home was Bank of America. They outsourced their HAFA processing to a company called UTLS, but also use other vendors.  The junior lien holder was HSBC. The short sale was approved in 90 days, and the sellers received a $3000 relocation credit.  One of the other advantages of HAFA is that there is full waiver ofdeficiency.
1243 Ego Dr., Crestview Florida sold for $149,900
If you need a HAFA agent to help you with your Crestview Florida short sale, give me a call! 
It's Wendy!  Wendy Rulnick, Broker/Owner Rulnick Realty, Inc.
itswendy@rulnickrealty.com
850-650-7883

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Monday, October 10, 2011

172 Miramar St., Mary Esther Florida - Stylish Short Sale Listing


Mary Esther short sales
Notice this sharp Mary Esther Florida home at 172 Miramar Street? It's got style with cool windows, faux paint, cathedral ceiling and step down living room! The main living areas are tile and the bedrooms have wood laminate flooring. The corridor kitchen is bright with recessed lighting and tiled floor and has access to the outside, where you'll find a covered patio. Another wow factor? The back yard is huge! My favorite feature? The "edgy" exterior look - a classic. Very convenient location near Santa Rosa Mall, the beach, parks, Eglin AFB and Hurlburt Field.

172 Miramar Street, Mary Esther Florida - short sale offered for $119,500

Mary Esther short salesMary Esther short salesMary Esther short salesMary Esther short salesMary Esther short sales
It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

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Friday, October 7, 2011

104 Sandstone Tr., Crestview Florida - Redstone Estates Short Sale


Redstone Estates
Imagine - dim lights and glowing embers from your fireplace on a cool Crestview Florida evening.  This elegant brick home in Redstone Estates is well suited to relaxing in style. The living room makes a statement with its dramatic fireplace and architectural elements. Find nooks, plant ledges and a cathedral ceiling which spans the kitchen, living and dining rooms. The center isle kitchen offers a pleasing view of the living spaces, and has wood laminate floors, pantry, breakfast bar and plentiful cabinets. The back yard is meant for grilling and chilling with a privacy fence and lots of room. Located south of I-10, commuting to Eglin Air Force Base, Duke Field and Destin Florida is a breeze.

104 Sandstone Tr., Crestview Florida - short sale - offered for $129,900

Redstone EstatesRedstone EstatesRedstone EstatesRedstone EstatesRedstone Estates
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: itswendy@rulnickrealty.com

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Wednesday, October 5, 2011

Bluewater Bay Building Lot, The Woodlands, Niceville Florida



Woodlands Bluewater Bay 
Yes, there really is a Niceville, Florida, and you can live there! Build the Bluewater Bay home you've always wanted on this large wooded lot in the Woodlands.  This Niceville Florida homesite is located on a circle street and backs up to Eglin reservation.  The lot size is approximately 90 x 199. Minimum new home size must be 1500 square feet for one story, or 1800 square feet for a two story home.  Bluewater Bay is filled with amenities, and you can become a member to play tennis, golf, swim in the numerous pools and use the marina.  The Woodlands is conveniently located close to the MidBay Bridge for beach and shopping excursions to Destin, and a short commute to Eglin Air Force Base. We have a builder who can design and build your new home for you.

1120 Sandalwood Cir., Niceville Florida - short sale lot - $66,900

Woodlands Bluewater BayWoodlands Bluewater BayWoodlands Bluewater Bay


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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: itswendy@rulnickrealty.com

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Considering Florida Short Sale? Bank of America Offering Huge Bonus to Sellers


Bank of America short saleHave you been sitting on the fence about selling your Destin or Santa Rosa Beach Florida property as a short sale?  Now may be the time to act.  Bank of America has just announced that Florida sellers may be able to receive $5000 to $20,000 cash incentive at closing for completing a short sale.  There are existing Bank of America programs that pay sellers $1500 to $3000, but this move is unprecedented.  To qualify, you'll need to initiate your short sale prior to getting a contract on your Destin or Santa Rosa Beach home.

Apparently, Bank of America is enhancing its offerings to exceed federal HAFA guidelines, which currently suggest a $3000 relocation incentive to the short sale seller, and its own Co-op Program, which pays less.  They are only offering the incentive to eligible Florida sellers before they get a contract at this time, but hint at future program changes

Some loans don't qualify for the program - VA Compromise Sales, Ginnie Mae, FHA and USDA, lot loans and others. If you own a property in Destin, Sandestin, Santa Rosa Beach or surrounding towns, have a Bank of America mortgage and need to short sale, the time may be now. So get a Destin short sale agent on your side, and maybe get some cash. The deadline is November 30. 

Florida Enhanced Short Sale Relo Assistance
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: itswendy@rulnickrealty.com

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Tuesday, October 4, 2011

Just Sold - 6444 Starfish Cv,. Lighthouse Pointe, Navarre Florida


Navarre Florida short sales

This home at 6444 Starfish Cove, Navarre Florida has just sold.  Located in Lighthouse Point, owners here have access to a private dock and access to Santa Rosa Sound. Hurlburt Field is only a short commute, as is Navarre Beach and the Gulf of Mexico.  The home was sold as a VA Compromise Sale, which is a type of short sale.  The biggest challenge to selling the property initially was due to tenant occupancy.  Tenants often impede showings due to access restrictions different from an owner occupant.  After a tenant moves out, showings generally increase.

The sale price for 6444 Starfish Cove, Navarre Florida, was $98,500.  The property sold at its final listed price.  An interesting side note is that there was an offer in the same price range several months earlier.  The VA Compromise Sale appraisal for Bank of America was higher at the time, and the price had to stand for six months, per VA guidelines.  After the time period expired, the home could once again be marketed and sold at a more competitive price.

Read more about VA Compromise Sale.
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: itswendy@rulnickrealty.com

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