Monday, October 8, 2012

Kenwood, Fort Walton Beach FL - Bank of America Short Sale Approved


Kenwood Fort Walton Beach short sale
This home at 119 Mooney Rd., in the Kenwood area of Fort Walton Beach, Florida, was just approved for short sale.  Here are the details:
Senior Lien: Bank of America
Balance: $400,000 appr
Junior Lien: Coastal Bank and Trust (formerly Vanguard Bank)
Balance: Cross Collateral loan
Current Market Value: $283,000 appr
Cash Required from Seller: -0-
Short Sale Deficiency: none
This Kenwood area Bank of America short sale was approved in about two and a half months.  The investor on the loan was Fannie Mae. Bank of America agreed to pay the junior lien, Coastal Bank and Trust (formerly Vanguard Bank) $3000 to release its lien. The property was a primary residence. The seller was not asked to contribute to the loss by either a cash contribution or promissory note. The rights to a deficiency judgment for the senior lien were waived.
If you need to sell your Kenwood home to avoid foreclosure, consult an attorney and an experienced Fort Walton Beach short sale agent.
Read more Fort Walton Beach short sale success stories
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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