The Rulnick Report

Selling Fast is OK for HAP Homes Near Eglin Air Force Base

noreply@blogger.com (Wendy Rulnick) — Tue, 29 May 2012 19:39:00 +0000

This home in Vesta Heights, Fort Walton Beach Florida, has been approved for HAP sale. The property went under contract just three days after going on the market! HAP approved the contract and replaced it with their own 11 weeks later.

Things to know:

1. Even though the HAP (Homeowners Assistance Program for U.S. military) website says your home should be marketed for 120 days,the fact is, HAP really cares that you get "fair market value" (or 90% thereof). In this case, it was fortunate that the buyer happened to be looking for a home near Eglin Air Force Base and this exact match became available. I've sold many HAP contingent homes in Fort Walton Beach, Navarre, Crestview and Destin Florida in less than a week. All the sales were subsequently approved by HAP, and none ever had a counter offer of price, nor had time on market questioned.

2. How is contract price supported to HAP? When you get a contract on your HAP home, I prepare a market analysis for you to send in to HAP along with your contract. Before you accept an offer, I let you know if the price and terms are in line with HAP might find acceptable. What does that mean? The contract should be approximately 90% of supportable fair market value.

3. What about cases of difficult to sell HAP homes that only get low offers? If you can prove your home was exposed to the market for a period of time, you may be able to get a sale price that seems otherwise low approved by HAP. An example I have is a home in Navarre Florida that was on East Bay, but surrounded by homes of much lesser quality. This property could only garner a seemingly low price. We sent HAP all the detailed marketing for the property, along with showings and feedback from potential buyers. The contract price was approved.

Do you have questions about your potential HAP sale in Fort Walton Beach, Crestview, Destin or Navarre Florida? Email me atitswendy@rulnickrealty.com

Destin Bank of America Cooperative Short Sales - Head Spinning!

noreply@blogger.com (Wendy Rulnick) — Wed, 23 May 2012 15:00:00 +0000

Bank of America Cooperative short sales are not always as “easy” or “fast” as they make them out to be. If you have received an offer to do a Bank of America cooperative short sale near Destin Florida, here is a sample of an actual file in process. As the short sale listing agent, I take most of the burden off my sellers, but the time line and make-work affects all the parties to the transaction.

First, some background. This Destin Florida short sale seller had a written offer from Bank of America to do a cooperative short sale, get cash back at closing and a waiver of deficiency about six months prior to contract date. As instructed, after listing the property, we faxed his documents to confirm he was participating. We soon received an offer for fair market value, which the seller accepted. What happened next?

3/2/2012 We initiated the new short sale in Bank of America’s online short sale platform, Equator.

3/5/2012 I call Bank of America’s third party coop processor at National Default Servicing (NDS) to inform them the file was initiated. I am informed they have CLOSED the file because the “form” had not been returned in time

3/5/2012 Call Bank of America to find out what is going on. I am informed the seller is approved for Cooperative short sale. They say the file is not with NDS, but with another company, AMS

3/6/2012 11:22 a.m. I finally reach AMS. They state they do NOT have the file, and tell me to call NDS (the first company)

3/6/2012 11:23 a.m. I call NDS again. They state they do NOT have the file (again) and state the seller is NOT eligible for COOP (short for Cooperative short sale). I call the Twitter Team at Bank of America, their escalation department.

3/8/2012 The Twitter Team calls me. I am told the seller emphatically CANNOT DO Cooperative short sale now, there has to be NO OFFER(remember, we have a contract)

3/14/2012 I get a call from NDS that they NOW have the file and the seller CAN do the COOP program if he wants to. (Can you believe this?) They suggest that the seller should still use this program as it will only take 10 days to get approved, much faster than a traditional short sale. (I am not making this up) I am instructed to get the file CLOSED with Bank of America and re-opened with NDS.

4/4/2012 I call NDS for an update and am told it will take 2-4 weeks for them to review “marketing” before I can even upload the contract (It is now one month after the property had a contract, remember?)... I cannot do anything with the existing contract on this property until that time has passed. (OK, "marketing"? I thought I sold it already?)

4/10/2012 I am asked for my “Marketing Plan” for this property. I reply, “Well, the property is
under contract, so maybe my marketing plan has already worked?”

4/16/2012 I get an email from the Cooperative Short Sale Negotiator. She tells me to set the “initial listing price” to $6000 LESS than the contract price. I tell her the property is already UNDER CONTRACT (as I’ve told them a dozen times) in our MLS, and that their investor will then LOSE $6000 by lowering the list price. I get this reply:

“Per the guidelines of the Cooperative Short Sale program, the property MUST be listed at the Bank approved price. Your buyer can simply lower their offer to listing price. You will not be able to submit your offer for review until we receive the MLS with that list price.” (I am not making this up)

Thus, we must re-activate the property, lower the list price, send them a copy of the MLS. After this, I had to change the list price back to what actually produced the contract, since doing otherwise would be an inaccurate picture of what price produced a contract to my association of Realtors.

One month later still, I get more automatic requests to LOWER the price in the MLS, although this Destin property is already sold, and no response from NDS again until I again escalate the file. Now, finally, we are finally on the path to short sale approval, and the buyer is amazingly still on board.

So, the bottom line is, if you get an offer to do a Bank of America cooperative short sale, be prepared to go through this sometimes head-spinning process. Yes, you might get cash back in the end. But the challenges are, will you be able to keep your buyer through the process? Will your Destin short sale agent be able to maneuver through the maze at Bank of America? Do you have questions? Email me atitswendy@rulnickrealty.com

Eglin Air Force Base HAP Private Sales with No Mortgage?

noreply@blogger.com (Wendy Rulnick) — Wed, 23 May 2012 14:07:00 +0000

Did you know you don’t have to be “upside down” in your mortgage to use the HAP program?That’s right! Military members who PCS’d from Eglin Air Force Base, Hurlburt Field, Duke Field orWhiting Field should know their options! Most people think HAP is only used to avoid short sale or foreclosure when the airman, marine or army member is PSC’d (Permanent Change of Station) and must sell. This is not the case. I’ll explain that in a moment, but first, here is a review of the basic criteria to use HAP.

1. The home was the primary residence at time of PCS orders.

2. The market value of the property has dropped at least 10% since the original purchase.

3. Orders to move were dated between February 1 2006 and September 20, 2010.

4. The home was purchased or purchase contract was entered into prior to July 1, 2006.

5. The service member’s PCS orders were for a move at least 50 miles away from the previous base.

There are two ways to use HAP as of today. The third option, Government Assisted Private Sale (GAPS), where the service member could get a check at closing in some cases, unfortunately ended in January 2012. (In fact, I had a HAP GAPS closing in Navarre Florida on the last day of the program.) What are the two remaining HAP options?

1. HAP Government Acquisition- In a nutshell, we list your Navarre, Crestview, Destin or Fort Walton Beach home for sale and find you a buyer. You enter into a contract with the buyer “contingent on HAP approval”. The U.S. Government then substitutes that contract with their own, pays off your upside down mortgage, and sells the home to the buyer we found.

2. HAP Private Sale- We sell your home. If you are upside down in your mortgage, you bring the funds to closing or do a short sale. The U.S. Government will then either reimburse you based on their calculations, re-pay your VA entitlement if it was a VA Compromise Sale, or simply pay you if you were not in a short sale or foreclosure situation.

That’s right! You do NOT have to be upside down, facing foreclosure or trying to avoid a short sale to use HAP. In fact, I’ve worked with Eglin Air Force Base personnel who had no mortgage use the HAP program to recoup some of their lost market value and put cash in their pocket! What is the calculation for a HAP private sale? You will get 90% of your prior fair market value (include your cost of verifiable home improvements) plus reasonable closing costs reimbursed to you. Here is an example:

Your home Prior Fair Market Value $200,000

Cost for adding swimming pool $30,000

90% of $230,000 $207,000

Sell your home for $130,000

HAP Benefit $77,000

Closing Costs 7% $9,100

In this case, you would get a check from HAP for $86,100 after closing per current HAP guidelines. In fact, I have a seller who currently has no mortgage using the HAP program, and getting pre-approved for his post-closing benefits as part of his contract contingencies. So, if you thought HAP was only to avoid short sale, think again. This opportunity is really a gift, and the funds may run out. If you PCS'd from Eglin Air Force Base or Hurlburt Field, and have a home in Navarre, Destin, Fort Walton Beach, Crestview, Milton or Santa Rosa Beach Florida, call or email me to discuss your options at itswendy@rulnickrealty.com or 850-650-7883.

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

Bank of America Cooperative Short Sales in Crestview, Destin Florida

noreply@blogger.com (Wendy Rulnick) — Wed, 16 May 2012 13:42:00 +0000

If you own a home or condo in Destin, Crestview, Navarre or Santa Rosa Beach Florida and are working with Bank of America to avoid foreclosure, you may have received some confusing information from them in the mail. One is a letter offering you to participate in the Bank of America cooperative short sale program. The other is a "Short Sale Third Party Authorization" where you will fill out your "Designated Representative" information. (That is the form about which I get the most calls). At this point, you've decided you want to do a short sale, and probably have gone through one or more attempts with Bank of America to modify your loan to no avail. They have offered you a special program where you can short sale your home and possibly get a cash incentive at closing (cooperative short sale). There are spots to fill in your your Designated Representative's name, Company Name, State Licensing Entity and License Number. You do not need to fill that part in - just fill in your name, co-borrower's name, property address, and loan number. You should sign the form. Here is where your big decision comes into play.

What do you do next? Decide which short sale real estate agent will best work with you and Bank of America in the short sale of your home or condo in Destin, Crestview, Santa Rosa Beach, Fort Walton Beach or Navarre Florida. How do you go about picking your agent? Start with a google search of agents in your town who are short sale agents. Read about them and their success rates. Call or email them with your questions. The questions they ask YOU will be one of the keys to how well they will work with you and Bank of America to result in a successful short sale on your behalf. Do you have questions now about Bank of America cooperative short sale, Third Party Authorization, VA Compromise Sale, FHA pre foreclosure sale, HAFA, HAP, Ginnie Mae short sales? Email me at itswendy@rulnickrealty.com Let's work together to solve your situation, work through the maze at Bank of America, and help you move forward with your life.

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

119 Mooney Rd,. Kenwood, Fort Walton Beach FL -Pool - Short Sale

noreply@blogger.com (Wendy Rulnick) — Mon, 14 May 2012 15:17:00 +0000

Unique and elegant Bank of America short sale home at 119 Mooney Rd., in the Kenwood subdivision of Fort Walton Beach Florida. 10' high ceilings in main living area, formal entry, transom and palladium windows, crown moulding, accent lighting, wood and tile floors. The kitchen gleams with black granite counters, Maple cabinets, stainless appliances, center island, plant ledges and breakfast bar in an open "great room" with views to the back yard. Two pantries, yes, two...! Living shines with multiple full length windows, dark laminate wood floors and corner gas fireplace, audio video center. Huge master suite has trey ceiling with accent lights, sitting area and two walk-in closets. Its bathroom is very refined and luxurious with custom mirror, long double vanity, whirlpool bath and large tile floor. The four bedrooms on the west wing are private from the rest of the house. One could be your perfect office. Outside there is a custom in-ground pool and oversized covered patio. This Kenwood home on Mooney Rd. is convenient to Eglin Air Force Base, Hurlburt Field and Fort Walton Beach Medical Center.

119 Mooney Rd., Fort Walton Beach FL - Bank of America short sale - offered for $325,700

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

4517 Olde Plantation Place - Kelly Plantation - Under Contract

noreply@blogger.com (Wendy Rulnick) — Mon, 07 May 2012 18:03:00 +0000

This gorgeous home in Kelly Plantation, Destin, Florida is now under contract in only 30 days. What are my favorite things about 4517 Olde Plantation Place? The kitchen... marvelous slabs of black granite counters, an enormous center island, the tube light above giving just the right ambience. Or maybe it's the master bedroom with the transom windows, private door to porch and the deluxe bathroom with solid cherry finishes and walk-in shower. Kelly Plantation is located near Destin Commons, Fresh Market, health club, and five minutes to the beach. On-site amenities are Fred Couple's 18 hole golf course, Owners Club with pool, five lighted tennis courts, playgrounds work-out center, lake, stables, walking trails and more.

4517 Olde Plantation Place is a Bank of America short sale. The list price is $547,700.

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

Cherokee Bend, Crestview FL - VA Compromise Sale

noreply@blogger.com (Wendy Rulnick) — Mon, 07 May 2012 15:27:00 +0000

This contemporary home in Cherokee Bend subdivision, Crestview Florida is a VA Compromise Sale. 2834 Atoka Trail is neat, crisp and bright! Kitchen open to dining and living room with breakfast bar. Fun track lighting. Master bedroom opens to outside with French doors, and has two walk-in closets. Master bathroom has double vanities. Enjoy the big fenced yard with screened porch and large covered patio, perfect for cook-outs. Do you fish? A community lake is nearby. This home at in Cherokee Bend, Crestview Florida is well-located for commuting to Eglin Air Force Base, as it is south of I-10. 25 minutes away - Destin beaches!

What is a VA Compromise Sale?

2834 Atoka Trail, Crestview FL - short sale - offered for $159,900

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

1137 Bay Ct., Destin FL - Bank of America Va Compromise Sale

noreply@blogger.com (Wendy Rulnick) — Fri, 13 Apr 2012 15:50:00 +0000

Beautiful short sale home in the heart of Destin Florida in Bayview Manor. The yard is a dream - deep, with lovely trellises, and a big screened porch to enjoy it all. Inside you'll find contemporary flair with cathedral and trey ceilings. Fun kitchen with a tile center island and creative track lighting. Much of the flooring is tile. Berber carpet upstairs and in all 3 bedrooms. Nearby - Joe's Bayou to launch your boat or bring your fishing pole. Also, nearby, Destin Harbor, shopping and great places to eat.

This Destin Florida home is a VA Compromise Sale with one mortgage.

1137 Bay Ct., Destin FL - Bank of America short sale - offered for $237,900

What is a VA Compromise Sale?

Why should I VA Compromise Sale?

VA Compromise Sale Q&A

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

Did You Get a HAP Bill for Overpayment after Closing?

noreply@blogger.com (Wendy Rulnick) — Wed, 11 Apr 2012 14:09:00 +0000

Did you have an Eglin Air Force Base HAP sale in the past few years? If so, be aware that they are auditing files and you might actually receive a bill if they claim you were overpaid. One of my Fort Walton Beach HAP sellers received just such a letter with a bill for almost $5000. They claim he was accidentally overpaid for his sale over two years ago. The letter mentioned he might be "suprised".

If you do receive a bill for overpayment from HAP, you may be offered options, as outlined below:

1. Instead of paying HAP back in a lump sum, you may be able to get a Voluntary Repayment Agreement, i.e. pay HAP back in installments

2. You can ask for and obtain copies of your HAP records

3. You can request the U.S. Army Corps of Engineers re-examine your HAP records to make sure your bill is valid

4. You can ask for an administrative hearing to review your case

5. You can request a waiver or forgiveness of the bill

I suggested that my HAP seller contact the HAP Chief, an accountant or tax attorney or consider getting legal aid on base. If you have had a similar experience with HAP, comment below.

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

BB&T Approves Navarre Florida Short Sale in 30 Days

noreply@blogger.com (Wendy Rulnick) — Fri, 06 Apr 2012 17:55:00 +0000

This was a speedy approval for a vacant land short sale in Sound Hammock, Navarre Florida. The waterfront lot, on Santa Rosa Sound, had one mortgage. Here are the details:

Mortgage Holder: BB&T

Original Purchase Price: $475,000 in 2005

Mortgage Amount: $430,000

Sales Price: $85,000

Cash Contribution Required: Yes

Short Sale Deficiency: Waived

This short sale, obviously, was a huge loss to the investor - over $350,000 when including closing costs. Since it was an investment property, a vacant lot, we expected BB&T to ask the seller for a cash contribution or promissory note, or both. They did. Originally, BB&T accepted the seller's offer of $9000 to completely waive any further deficiency. Before closing, however, BB&T re-contacted us and offered to reduce the cash contribution to $6000 and credit the buyer extra closing costs for a quicker closing. Hurray! All parties agreed. The total time for approval - thirty days.

If you have a BB&T mortgage and are considering short sale, contact an experienced Navarre short sale agent. Questions? Email me atitswendy@rulnickrealty.com

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

17 Birch St., Fort Walton Beach Florida Multi-Family - Needs Work

noreply@blogger.com (Wendy Rulnick) — Wed, 04 Apr 2012 18:58:00 +0000

Short sale multi-family unit for sale in Fort Walton Beach Florida. A triplex, this property at Birch Avenue consists of three attached townhomes, each with 2 bedrooms, 1.5 baths and 928 square feet for a total of 2784 square feet. Each unit has a private fenced court yard. Handyman will love this part - it needs work! You may want to replace the carpet, cabinetry, windows and and modernize! What are the current rents? Uni A- $500 , Unit B- $600 Unit C- $500, for total yearly gross income of $19,800. There is off road parking for six cars. This is a Regions Bank short sale with no other lienholders. It's hard to find a multi-family unit in the area with such an attractive price. Birch Avenue is located just off Beal Parkway and Highway 98.

17 Birch St., Fort Walton Beach FL - multi-family - offered for $179,700

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

Open Letter to Bank of America - New Authorization Form Impractical

noreply@blogger.com (Wendy Rulnick) — Tue, 27 Mar 2012 19:30:00 +0000

As a small brokerage, I have significant concerns about new Bank of America Third Party Authorization Form. My concerns about the new authorization are from a practical standpoint. Specifically, only authorizing a licensed real estate agent (or attorney) on a file is a logistical challenge. Here are my concerns from a practical standpoint:

1. As the only authorized agent, if only I can speak to or email Bank of America on my seller’s behalf, I have to be “available” and dedicated to phone or email without interruption by other business tasks or personal matters. If I were unavailable for any period of time, I might miss an instruction from Bank of America or fail to respond in a timely manner, since my paid employee who is my short sale administrator would be unableto respond in my absence

2. My employee who acts as short sale assistant will not be able to handle routine housekeeping or administrative matters via telephone (or email) with Bank of America. Examples: Equator reason for rejection: other, Question over specific paperwork to upload, problem with appraiser access, fax issues, negotiator calling and cannot leave a message if I am not physically available, etc.

3. Should I be the only party authorized to do any type of communication on my seller’s behalf, I would have to change my business practices: I could never be out sick, I could not go on vacation, I could not be on other appointments that take me away from a telephone or email for a day, I would have to become an administrator, which is less productive activity, than my skill set as manager

If I were unavailable, and my employee could not handle a routine matter, the borrower’s file will not be processed in a timely manner, in fact, the borrower’s file could be closed, and potentially, foreclosed on. As a small brokerage, with paid employees on staff, I cannot bring yet another party into my team, for example, asking another licensed real estate agent to “cover” for me to handle routine items or should I become ill or on vacation. Specializing in short sales requires a very tight budget and sometimes results in a negative business profit margin (e.g. they take two to three times longer than a traditional sale, and entail five times the administrative, phone, email, and fax effort). My concerns, and more, are being shared in forums throughout the country. In the past, I have been a big supporter of Bank of America, as you can see from a recent blog post, Bank of America of America Setting the Industry Standard.

This strict authorization, with no concern for practical matters, will be a severe impediment to the ability to be a successful small business owner and to aid to those facing foreclosure.

There are other concerns about the new third party authorization that I am not addressing here, regarding the authorized party having knowledge of what Bank of America or the investor "might" have decided had "other", unnamed information been known. I'll leave that for another post.

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

Destin Commercial Office for Sale - Miramar Plaza 32550

noreply@blogger.com (Wendy Rulnick) — Mon, 26 Mar 2012 17:45:00 +0000

Beautiful two story Destin Florida office for sale in Miramar Plaza, architect-designed. Located on Hwy 98 near between Destin Commons and Sandestin, in Miramar Beach. Commerical unit includes six generous offices that can accommodate two or more each, large conference room, kitchen, copier area and lobby. Each office has window to hall for a spacious feel. Lobby has sky-high ceiling for a dramatic effect and granite reception counter, travertine floors. Bonus - huge storage room. Unit was built out in 2006. Fantastic location with strong association, a few blocks from the beach. Association dues include water. Unit size approximately 2100 square feet.

Miramar Plaza is a strip mall with a mix of retail, office and restaurants.

12889 Emerald Coast Pkwy Ste 107-A, Miramar Plaza, Destin Florida for sale - $319,900

iIt's Wendy!

Wendy Rulnick, Rulnick Realty, Inc. Broker/Owner

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

4517 Olde Plantation Pl, Kelly Plantation, Destin Florida - Short Sale

noreply@blogger.com (Wendy Rulnick) — Mon, 26 Mar 2012 17:41:00 +0000

Elegant Kelly Plantation short sale home in Destin Florida with three car garage, tile roof and privacy, overlooking nature preserve. Stunning finishes like 12' ceilings, travertine tile, crown moulding, upscale fixtures. The kitchen is a fantasy with black granite counters, walls of cabinets, custom wine nooks, uplighting, travertine backsplash, tube light, and fun pendants. Guest quarters with private bath and bedroom adjoin the family room. The master bedroom is fabulous with multiple transom windows, and door to screened porch. The spectacular master bath has solid cherry cabinets, travertine walk-in shower and whirlpool tub. The office has custom travertine floors, built-in executive desk and cabinets, and hidden cords. Kelly Plantation is located near Destin Commons, Fresh Market, health club, and five minutes to the beach. On-site amenities are Fred Couple's 18 hole golf course, Owners Club with pool, five lighted tennis courts, playgrounds work-out center, lake, stables, walking trails and more.

4517 Olde Plantation Pl, Kelly Plantation, Destin Florida - offered for $547,700

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

The Oaks, Niceville Florida - Short Sale Approved by Wells Fargo

noreply@blogger.com (Wendy Rulnick) — Tue, 20 Mar 2012 17:12:00 +0000

Wells Fargo just approved this short sale at The Oaks condo complex in Niceville Florida. The approval time was less than 60 days, despite Wells Fargo's taxing use of the Equator short sale processing system. Here are the details:

Mortgage Holder: Wells Fargo

Balance: appr $190,000

Sales price: appr $82,000

Waiver of Deficiency: yes

Seller contribution: yes

This Oaks condo in Niceville was an investment property. Often, a short sale seller will be asked to "contribute" to participate in the loss when that is the case. The seller agreed to contribute about $1200, which was negotiated down from Wells Fargo's initial request. The seller received a full waiver of deficiency, meaning, Wells Fargo and the investor on the loan would cancel the rest of the debt, and not seek to collect the balance.

If you need to short sale to avoid foreclosure, contact an experienced Niceville 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

709 Denise Dr., Crestview FL - VA Compromise Sale

noreply@blogger.com (Wendy Rulnick) — Wed, 14 Mar 2012 18:34:00 +0000

Dramatic touches make this Antioch Estates VA Compromise short sale home in Crestview Florida elegant. Inside columns, interesting windows, corner angle fireplace in the living room, wood laminate floors are some of the features. The kitchen has tiled backsplash and look crisp with white counters and opens to a bright breakfast nook. There is a formal dining with chair-rail and decorative recessed shelf and stately windows. The master bathroom has a peaked glass-block window over the tub. Outside, overlook the terraced lot from the screened porch and onto nature! Antioch Estates is in the south part of Florida, or "South of I-10", which is ideal for commuting to Eglin Air Force Base, or going down to the beach in Destin.

709 Denise Dr., Crestview Florida, Antioch Estates - offered for $159,900

What is a 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

229 Moriarty St., Fort Walton Beach Florida - HAP Home for Sale

noreply@blogger.com (Wendy Rulnick) — Mon, 12 Mar 2012 19:37:00 +0000

How about a big yard in the heart of Fort Walton Beach Florida? This Vesta Heights HAP home has distinctive feautures, like decorative archways and hall entries. There are lovely wood laminate floors in living room and hallway. The kitchen is tile, tile, tile, with tile counters, backsplash and floor! The dining room floor has an elegant design. Passthrough to living room, breakfast bar and stainless appliances. The master bedroom has large walk-in closet, attached master bathroom with double vanity sinks and tiled tub/shower combination. This sale is contingent on HAP approval.

If you are buying a HAP home in the Eglin Air Force Base area, expect to wait 60-90 days for approval of your contract.

229 Moriarty St., Fort Walton Beach FL - HAP home offered for sale for $122,900

How to Buy an Eglin AFB HAP Home.

HAP Government Assisted Private Sale (GAPS) Ends

HAP or 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

Indian Lake #355, Destin Florida Short Sale Condo

noreply@blogger.com (Wendy Rulnick) — Fri, 09 Mar 2012 17:06:00 +0000

Second floor Indian Lake short sale condo in the heart of Destin Florida. This tiled unit has a spacious floor plan, with kitchen open to the living, and light decor. Condo complex amenities include a community pool, picnic areas, exercise room, community room and on-site leasing office. Indian Lake is a good choice for an investor or owner-occupant. Gulf of Mexico beaches and parks are five minutes away. Destin Commons is close, too, along with upscale shopping and dining options. This one bedroom unit has over 900 square feet. There is one mortgage with Bank of America.

Indian Lake #355 offered for $64,900

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

Bay Harbour Lot 73, Freeport Florida – Short Sale Building Lot

noreply@blogger.com (Wendy Rulnick) — Wed, 07 Mar 2012 15:44:00 +0000

Huge lot in premier subdivision of Bay Harbour in Freeport Florida. Stunning views of the Choctawhatchee Bay. This lot is over .8 acres. Hook your line and catch some fish off the community dock. Grab your racket and play tennis on the Bay Harbour court, next to your lot, or play hoops on the basketball court. This beautiful Freeport Florida neighborhood has lakes, nature trails and a boardwalk across the marsh. Just look at the pictures! There is a large outdoor storage area for owners, street lights and underground utilities. We can also recommend an excellent Freeport Florida new home builder to design and build your new house.

Bay Harbout Lot 73, Freeport Florida offered for $69,900

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

6433 Starfish Cove, Lighthouse Pointe, Gulf Breeze FL Short Sale

noreply@blogger.com (Wendy Rulnick) — Mon, 05 Mar 2012 18:09:00 +0000

Lovingly decorated home in Lighthouse Pointe, Navarre Florida, with Santa Rosa Sound access. Beautiful creamy colors and upscale features. Kitchen is bright with breakfast bar, and partially open to the living with with trey ceiling. Long lazy porch overlooks back yard with storage shed. Baths have updated fixtures. Neighborhood has playground, beach, too! Easy drive to Hurlburt Field or even Pensacola. This is an FHA HUD preforeclosure sale.

6433 Starfish Cove, Navarre Florida – short sale - offered for $83,900

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

Turkey Creek Estates Building Lot, Navarre Florida

noreply@blogger.com (Wendy Rulnick) — Fri, 02 Mar 2012 19:17:00 +0000

Beautiful large corner building lot on corner of Lincoln and Concord in Navarre Florida. This would be an excellent location to build your new home, close to Hurlburt Field and a short drive to Santa Rosa Sound for fishing or swimming in the beautiful Gulf of Mexico. The lot dimensions are approximately 100 x 250. Need a builder, too? We can recommend an Emerald Coast builder for your new house in Navarre Florida.

This is not a short sale.

Lot 7, Lincoln Ave., Navarre Florida 32566- $39,900

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

3021 Yorktown, Willow Bend, Fort Walton Beach FL - Bank of America Short Sale

noreply@blogger.com (Wendy Rulnick) — Fri, 02 Mar 2012 15:07:00 +0000

Curb appeal with repeated roof peaks makes this Fort Walton Beach short sale home say "Welcome"! Located in the Willow Bendneighborhood, it’s an ideal location for Eglin Air Force Base or Hurlburt Field commutes. Some key featuers are interesting architectural touches, cathedralled living room with fireplace, display arches. Roomy kitchen with many cabinets. The small lot will require less maintenance, and there is a one car garage. Willow Bend is a short drive from Santa Rosa Mall, Okaloosa Island and the Gulf of Mexico Beaches.

3021 Yorktown, Fort Walton Beach Florida - offered for $97,500

Fort Walton Beach short sale help

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

602 Affirmed, Steeplechase, Crestview Florida - HAP Private Sale

noreply@blogger.com (Wendy Rulnick) — Wed, 29 Feb 2012 15:02:00 +0000

Stylish Steeplechase home in Crestview Florida, offered as a HAP private sale. 602 Affirmed Court has red shutters, dormer, side entry garage and plenty of space. This happy house has a high cathedralled living room with wood laminate floors and gas fireplace that is open to the kitchen with custom pass-through and column. A second floor loft room adds to the drama, as it overlooks the living areas. The colors throughout the home are pleasing and contemporary. Whirlpool tub in master bathroom. Large fenced yard with shed. Updates include solid surface counters, laminate floors, garage door opener air conditioner and coils have been replaced. Contingent on HAP approval.

This HAP private sale home is listed for $189,700

What is HAP?

How to Buy an Eglin HAP home.

HAP Help Eglin Service Members Avoid Foreclosure

HAP GAPS Ends

HAP Sellers Might Need Cash at 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: itswendy@rulnickrealty.com

Chase - Freddie Mac - Short Sale, Navarre Florida - Approved

noreply@blogger.com (Wendy Rulnick) — Tue, 21 Feb 2012 20:52:00 +0000

This waterfront home in the Holley area of Navarre Florida was just approved as a short sale. The log home needs some work, is on over two acres, and on a bayou leading to East Bay. It went under contract in 74 days. Here are the details of the Chase short sale approval.

Lienholder: Chase
Other Liens: none
Original Mortgage: Appr $280,000
Market Value: Appr $128,000
Approval Time: 90 days

Notes: This Chase short sale had to go through layers for approval. The seller was originally offered a Freddie Mac HAFA short sale, which was later denied by Chase. Subsequently, it was approved by Freddie Mac, and also a mortgage insurer (MI) for a cash contribution from the seller of $1500. Why? The seller made a good income. What was the end result for the seller? Complete waiver of deficiency. If you didn't know, Florida is called a "deficiency state", where a creditor can take many years to collect on a judgment. Check with your attorney before you attempt a short sale, and hire a Navarre Florida 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

Crystal Village Condo 2B, Miramar Beach FL - Short Sale

noreply@blogger.com (Wendy Rulnick) — Fri, 17 Feb 2012 20:33:00 +0000

Charming and bright, this Crystal Village short sale condo unit 2B in Miramar Beach Florida, is a few blocks from the beach.Located at 285 Payne St, there is a beautiful pool and landscaped grounds. Happy colors and fun, angled floorplan give this home a unique feeling. The kitchen is tiled and open to the living room. There are two full baths, one in the master bedroom. Crystal Village is down the street from the dazzling Gulf of Mexico with public access and Pompano Joe's restaurant. It is also a couple of miles from Silver Sands shopping, Baytown Wharf, Grand Boulevard, Destin Commons, movie theaters and many restaurants.

Crystal Village Condo 2B, Miramar Beach FL - short sale - listed for $127,500

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