Regions Mortgage has approved a short sale in Holley by the Sea, Navarre, Florida. Regions has branches primarily in the South and Midwest. I have found they like to negotiate back and forth on short sales, more so than other lenders. They normally want a cash contribution, promissory note, or both, and prefer to move their liens onto other of the borrower’s real estate assets. Regions has gotten some press lately as one of the few lenders who is yet to repay TARP funds to the U.S. Treasury, as well as federal charges against its subsidiary, Morgan Keegan & Company. Regions is fighting those charges.
They did recently approve this short sale in Navarre, Florida.
Property: Single family home in Holley by the Sea
Mortgage: Regions – balance about $210,000
Offer: about $150,000
Cash Contribution: $22,000
Notes: Remainder of balance moved as collateral to another property
Regions short sales are not always the easiest, but they can be accomplished. If you need to avoid foreclosure, and do a Holley by the Sea, Navarre, Florida short sale, consider hiring an experienced Navarre short sale agent.
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]