This home at 334 Victoria Ave., Fort Walton Beach, Florida was approved for short sale and just closed. Here are the details:
Senior Lien: Green Tree Servicing
Senior Lien balance: $156,000
Junior Lien: Green Tree Servicing
Junior Lien balance: $40,000
Current Value: $135,000
Hardship: Military PCS (Permanent Change of Station from Eglin Air Force Base)
The senior Green Tree loan was backed by Fannie Mae, which considers military PCS a long-term hardship, offering short sale as an option. We had to provide a copy of the PCS orders to Green Tree to support the case. I always recommend providing as much detail as possible to justify a hardship in a short sale situation, so we send in PCS orders automatically. Both the senior and junior lien for this Fort Walton Beach home were approved within 60 days. There was no deficiency judgment, no cash contribution and no promissory note due from the seller.
334 Victoria Ave., Fort Walton Beach Florida sold for $135,900.
If you are in a military PCS situation and are considering short sale, if your loan is not backed by VA (VA Compromise Sale), find out if your loan is backed by Fannie Mae. Here is the link to the Fannie Mae loan look-up. If it is a Fannie Mae loan, you can contact the Fannie Mae Help Center or give me a call to discuss your options.
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: [email protected]
Wendy Rulnick, Broker, is a short sale and pre-foreclosure specialist and has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”. She has successfully helped hundreds of families avoid foreclosure through short sale along the Emerald Coast of Florida. Wendy Rulnick is knowledgeable in all aspects of short sale, including VA Compromise Sale, FHA HUD pre-foreclosure sale, HAP military PCS, HAFA, Bank of America Coop program and more. She is also co-founder of www.ShortSaleSuperstars.com and short sale instructor to agents across the United States. Wendy Rulnick sells real estate in Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Panama City Beach, Eglin AFB, Hurlburt Field.