This Green Tree and USAA short sale in the Beaver Creek subdivision, Crestview Florida, has been approved for short sale and closed today. The home at 127 Mill Pond Cove, had a senior lien serviced by Green Tree and was a Fannie Mae loan. The junior lien was USAA. In this case, Permament Change of Station (PCS) orders from Eglin Air Force Base was the reason for short sale. PCS orders are considered an acceptable hardship by Fannie Mae, who announced this year that there would be no cash contribution or promissory note required from the PCSing seller if the home was purchased before June 20, 2012 and had been a primary residence.
This Crestview Florida short sale was initially counter offered by Fannie Mae via Green Tree at a price much higher than the contract price. I challenged the valuation through Fannie Mae’s Homepath website by providing comparable sales that supported the original offer. One week later, Fannie Mae agreed to lower the price after reviewing my data.
This home at 127 Mill Pond, in Beaver Creek, Crestview Florida, sold for $120,700.
Here is the Fannie Mae bulletin that addresses the short sale PCS hardship and seller contribution.
It’s Wendy… It’s Sold!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: [email protected]
Wendy Rulnick, Broker, is co-found of www.shortsalesuperstars.com has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”. Wendy Rulnick sells real estate in Destin, Santa Rosa Beach, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Panama City Beach.