Junior Lien: Florida SHIP Loan
Florida SHIP (State Housing Initiatives Partnerships) is a downpayment assistance program that is managed separately by each county in Florida. Okaloosa County SHIP forgave the entire balance of their $12,500 junior lien. We accomplished the debt forgiveness by sending a hardship letter to the SHIP director for Okaloosa County. Because the seller was a forced military relocation who PCSd from Eglin Air Force Base, they forgave the debt in full. Don’t count on total forgiveness in other counties in Florida. Each request for a short sale is individually reviewed.
Chase approved the VA Compromise Sale in one day. They already had the seller’s financials and a VA Compromise Appraisal on file (good for six months). The last buyer refused to increase her offer to meet the required net based on the appraisal. The Chase negotiator said he would keep the file on his desk for me for thirty days – in case we got lucky with another buyer.
Guess what? We got lucky!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: [email protected]