Three short sale liens? No problem! This home at 1616 Myrtlewood Dr., Parkwood Estates, Bluewater Bay in Niceville Florida was just approved as a short sale and is getting ready to close.  Here are the details:

Lien #1 (Also called “Senior Lien”): Green Tree

Lien #1 Balance:  $300,000 appr.

Lien #2: Green Tree

Lien #2 Balance: $60,000 appr.

Lien #3 (Another “Junior Lien”): Key Bank

Lien #3 Balance: $30,000 appr.

There were a few challenges with this Parkwood Estates short sale listing. First, Green Tree does not process multiple liens on one property together. This is unlike Bank of America.  We had to deal with two different negotiators at Green Tree, and the seller had to provide separate forms and financials for each lien.  That meant we had to do twice the amount of paperwork. Second, Green Tree can be less than business-like in their collections department, and that is where you apparently start with many Green Tree short sales.

The Green Tree junior lien representative from the collections department asked me: “Doesn’t the seller understand he signed a note stating he would make payments on the property?” That left me aghast. I could only say, “Ma’am, this is a short sale situation with a hardship and the seller is unable to pay.”  She already knew that, of course. She also said this would be “very difficult” unless he made a payment. Oh boy.  She then insisted on “mailing” me a package for the seller to fill out, not emailing or faxing. When I asked why she couldn’t fax it, she stuttered, “The fax machine is messed up.” Right!  I could “hear” her grin on the other end of the phone.

Key Bank was a bit slow processing the short sale. They eventually requested a promissory note from the seller, but then agreed to simply release their lien. The seller preferred to work with them separately after closing.

This property at 1616 Myrtlewood Drive, Parkwood Estates, Bluewater Bay, Niceville Florida should be closing soon.

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

Niceville Short Sale Agent

SHOULD YOU SHORT SALE OR STAY CALCULATOR

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.

The post 3-Lien Short Sale Parkwood Estates, Bluewater Bay Florida Approved first appeared on Rulnick Realty.

1616 Myrtlewood, Parkwood Estates, Niceville Florida – Green Tree short sale offered for $329,900

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

Bluewater Bay Short Sale Agent

SHOULD YOU SHORT SALE OR STAY – FREE CALCULATOR

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.

The post Parkwood Estates Green Tree Short Sale Bluewater Bay Florida first appeared on Rulnick Realty.

Senior Lien: Wells Fargo
Balance: $275,000
Junior Lien: Compass Bank
Balance: $115,000
Original Purchase Price: $485,000
Market Value: $290,000
Status: Short Sale Approved by both lienholders

Notes: Wells Fargo uses the Equator Platform for short sale processing. It is an online program where the short sale listing Realtor uploads seller financial documents, preliminary settlement figures and more for analysis by Wells Fargo. Other lenders share this platform, such as Bank of America and GMAC, but Wells Fargo’s requirements are more tedious.

This was my first short sale with BVVA Compass Bank, the junior lienholder. It was interesting. The institution’s personnel are pleasant. Their short sale policy, however, requires that the file be in their internal “charge off” department before they will negotiate any terms.  They will not speed up their internal timelines to process a short sale, without exception. It is not the case that they have a plethora of files, it is just their timeline, which can take months, and they stick to it. This caused a long delay in the process, as we had Wells Fargo approval in about 45 days.  Compass does its short sale processing through email, fax and phone, and it is fairly easy to get ahold of a human being. They appear to favor promissory notes and cash contribution combinations, but will negotiate.

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

Niceville Florida short sales

The post Windward Short Sale, Bluewater Bay Florida – Approved Compass Bank first appeared on Rulnick Realty.

Lovely Mediterranean home located in the gated neighborhood of Windward at Bluewater Bay, Niceville, Florida.  This short sale has beautifully manicured trees, bushes and tropical plants highlighting the white stucco and red tile roof. The interior is spacious and bright with vaulted ceilings in every room. Terra cotta Mexican tile and wood flooring throughout with beautiful marble tile in the master bedroom and bath. The living room features a fireplace with a blower and custom built-in book shelves. The adjoining den has a sink and bar opening into the living room area, perfect for entertaining. The dining room is bright and airy. The open kitchen has tile countertops with lots of surface space, a built-in breakfast table and beautiful custom cabinets. A tiled Florida room with sky lights is off the dining room that leads to an open deck in the large private backyard. The master bedroom has soaring ceilings with sliding glass doors leading to a second deck in the back. Master shower has in-laid tile and two shower heads. This Windward home in Bluewater Bay opens you to a host of amenities.  Join one of the numerous recreational clubs – golf, swim, play tennis and more. Niceville Florida is about fifteen minutes to the Destin beaches, too!

1201 Windward Ci., Bluewater Bay, Niceville Florida short sale

Call Wendy Rulnick, Rulnick Realty for additional information.

The post 1201 Windward Circle, Bluewater Bay, Niceville Florida Short Sale Home first appeared on Rulnick Realty.

Wells Fargo just approved this home in The Woodlands, Bluewater Bay, Niceville Florida, for a VA Compromise Sale.  A VA Compromise Sale is similar to a short sale. The process is not always “smooth”, and this one had a few issues, too.

The Problem:

VA appraised the home for more than the contract price. The buyer would not increase his offer to meet the VA required net proceeds of 88.13% of the appraisal.

Since the buyer would not pay more for the property, could the seller make up the difference? Normally, the answer is “no”.  VA frowns upon the seller bringing funds to closing, since a VA Compromise Sale is supposed to be a hardship situation.

The Solution:

We were allowed to go forward by providing a “gift letter” supporting seller bringing funds to closing that were “gifted”, not loaned, to meet the VA minimum net.

The good news for the seller was VA does not expect repayment unless they want to get a VA mortgage in the future, and the Wells Fargo HELOC waived any right to a deficiency through our negotiations.  The seller never missed a mortgage payment, which will minimize credit impact.  (Although VA is quoted as saying the borrower must be “behind”, that is not always the case.)

If you have a VA loan on a home in Niceville, Florida, are “upside down” in your mortgage, and need to sell, consider a VA Compromise Sale.  As always, consult with an attorney and an experienced Niceville FL short sale agent.

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

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

Email Wendy: itswendy@rulnickrealty.com

Read Wendy’s Niceviile FL Real Estate Blog

The post Bluewater Bay Florida Home Approved For VA Compromise Sale first appeared on Rulnick Realty.

Fabulous Bluewater Bay Florida short sale home! 933 Ridgewood Way, Niceville, Florida, in the Woodlands has sunken living room with real hardwood floors, vaulted ceiling, wood-burning fireplace and wet bar. French doors in the separate dining room offer an incredible view of the pool and large patio. Eat-in kitchen has solid wood cabinets. Wood floors in dining room, bedroom and hall. New energy efficient doors and windows throughout the house. New AC/Heater. This Woodlands, Bluewater Bay, short sale has a very large, fenced landscaped lot with in-ground pool, new irrigation system, fruit-bearing trees and lots of palm trees. 

As an owner in Bluewater Bay, you are open to the world of golf, swimming, tennis, marina, boating, dining and more.  The Woodlands located five minutes from Destin Florida- and beaches, Destin Commons, movie theaters and fine dining.

933 Ridgewood Drive, Niceville Florida – offered for sale – $223,900

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

Niceville Florida Real Estate

Bluewater Bay Short Sales & Pre Foreclosure Help.

Read Wendy’s Niceville Florida Real Estate Blog

The post 933 Ridgewood Dr., Bluewater Bay, Niceville Florida – Short Sale first appeared on Rulnick Realty.

If you need to sell your Bluewater Bay property as a short sale, consider hiring an experienced Niceville 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

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy’s Destin Real Estate Blog

The post Just Sold, Lot 5 Capri Cove, Lido Village, Bluewater Bay, Niceville Florida – Short Sale first appeared on Rulnick Realty.

Offered at $99,800.

It’s Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

Niceville Real Estate

Niceville Short Sales & Pre Foreclosure Help.

Read Wendy’s Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Wendy is a short sale and pre-foreclosure specialist and has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”. Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County-  Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. 

Subscribe in a reader

Subscribe to It’s Wendy’s Blog by Email

The post Lot 17, Wren Way, Magnolia Forest, Niceville Florida – Bluewater Bay Short Sale first appeared on Rulnick Realty.

Posted using ShareThis

The post Niceville FL property – Niceville FL homes for sale first appeared on Rulnick Realty.