This Antioch Estates home in Crestview Florida was just approved for VA Compromise Sale.  It was an unusually swift approval for a short sale!  Here are the details:

Mortgage Holder: BB&T

Original Balance: $205,000 appr

Current Market Value: $150,000 appr

Short Sale Deficiency: none

Time for Approval: 33 days

Reason for sale: Eglin AFB military PCS (permanent change of station)

Did you know that VA Compromise Sales don’t normally have deficiency judgments?  They will, however, exclude any unpaid entitlement from your future VA entitlement until you choose to pay it back. Here is the information from the  VA Home Loan Program:

“The VA guaranty, which protects the lender against loss, encourages the lender to make a loan with terms favorable to the veteran. But if you fail to make the payments you agreed to make, you may lose your home through foreclosure, and you and your family would probably lose all the time and money you had invested in it. If the lender does take a loss, VA must pay the guaranty to the lender, and the amount paid by VA must be repaid by you. If your loan closed on or after January 1,1990, you will owe the Government in the event of a default only if there was fraud, misrepresentation, or bad faith on your part.”

If you are contemplating VA Compromise Sale because you have a required PCS move from Eglin AFB, Hurlburt Field, or Duke Field, contact me to find out how this program can work for you – itswendy@rulnickrealty.com

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

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.   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.

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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!

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This appealing home at 532 Tikell Dr., Antioch Estates, Crestview FL just sold. Painted in rich red and cream tones, it has a dramatic entrance into the cathedralled living room. Laminate wood flooring in living room and halls, tile kitchen and baths, berber carpet in bedrooms make this home special.  It also has a wood burning fireplace, fenced back yard and brick and vinyl siding. Antioch Estates is located south of I-10 for quicker commutes to Eglin AFB and the beach.

This Antioch Estates home sold as a short sale for full price at $117,500.

Search Crestview Florida foreclosures – short sales.

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

Crestview Short Sales & Pre Foreclosure Help.

Read Wendy’s Crestview FL Real Estate Blog

The post 532 Tikell Dr., Antioch Estates, Crestview FL 32536 – Just Sold first appeared on Rulnick Realty.

The market value of the Antioch Estates home was under $120,000, but the senior lien, Bank of America had a mortgage balance of about $150,000.  Through negotiations, we were able to get a waiver of deficiency for the remaining note, and Bank of America agreed to pay USAA $6000 out of the net proceeds. 

The junior lien, USAA Federal Savings Bank was more difficult.  That mortgage balance was around $80,000, and the $6000 offer from Bank of America was not acceptable to USAA to settle the account. 

Negotiations with USAA were lengthy, taking four days to respond to each request from the seller.  The USAA choices were: pay 75% of the loan balance to settle the account in full, or pay 25% of the balance at closing (almost $20,000), and continue to pay on a promissory note for the remaining note.  When I relayed USAA’s request to Bank of America, they almost closed the file due to the extraordinary junior lien demand.

With each increased offer to “settle” for cash from the Crestview short sale seller, USAA increased its minimum requirement to simply release its lien. (Originally, USAA stated they would release the lien for 25% of the outstanding balance.)  During negotiations, the “25%” grew to whatever the seller offered to settle (less than 75%). I questioned this, and was told USAA was trying to “minimize promissory note payments post-closing for the seller’s benefit”, if that was the seller’s end decision. Of course, that doesn’t make sense.  USAA was, in my opinion, just requiring as much as it thought was obtainable.  USAA is not the easiest short sale lender to work with, but with persistence, you can succeed.

If you are a Crestview Florida homeowner considering short sale to avoid foreclosure, consult an attorney and an experienced Crestview FL short sale agent.

It’s Wendy!

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: itswendy@rulnickrealty.com

Crestview FL Real Estate

Crestview Short Sales & Pre Foreclosure Help.

Read Wendy’s Crestview FL Real Estate Blog.

The post USAA Approves Crestview Florida Short Sale first appeared on Rulnick Realty.

Very appealing short sale home at 532 Tikell Drive in Antioch Estates in Crestview Florida. Painted in rich red and cream tones, you’ll find a dramatic entrance into the cathedralled living room. Laminate wood flooring in living room and halls, tile kitchen and baths, berber carpet in bedrooms. Wood burning fireplace. Privacy fence back yard with a double gate on each side of home. Serene landscaping and vibrant trees. Brick home with vinyl siding at front entrance. Roof new 2004. Seller may consider early occupancy for short sale buyer.  Antioch Estates in Crestview Florida is located south of I-10 for easy commutes to Eglin Air Force Base and Destin beaches and the Gulf of Mexico. 

This Crestview Florida short sale is offered at $147,900

It’s Wendy!

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: itswendy@rulnickrealty.com

Crestview Florida Real Estate

Crestview Short Sales & Pre Foreclosure Help.

The post 532 Tikell Dr., Antioch Estates, Crestview Florida – Short Sale first appeared on Rulnick Realty.