Citi Mortgage just approved this Cherokee Bend, Crestview Florida VA Compromise Sale.  An interesting and long process, we ended up selling this property to the second buyer.

This  Crestview Florida VA Compromise Sale took about four months to be assigned to a VA negotiator at Citi.  Countless documents were requested to be faxed and re-faxed. For example, seller pay stubs, bank statements and Citi’s “Workable Solutions Package” (their standard financial worksheet) had to be sent in multiple times. Citi would take days to acknowledge receiving the documents, or not. They were sent in by both my office and the seller, sometimes to Citi’s short sale email, which is host.citilinkdocs@citi.com.  Unfortunately, the initial buyer purchased another home during this short sale process.  Fortunately, we found a new buyer within a few days, and directly emailed the new contract and HUD-1 settlement statement to the VA Compromise negotiator at Citi, the same day he said he had to permanently close the file!  Happily, the new offer was within guidelines for VA Compromise Sale – the net proceeds exceeded 88.13% of appraised value.  We expect the property to close within 30 days.

Should you do a VA Compromise Sale?

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 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.

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The post Cherokee Bend, Crestview Florida – VA Compromise Sale first appeared on Rulnick Realty.

 
This home in the Cherokee Bend subdivision was just approved for VA Compromise Sale and short sale.   2838 Tamiami Trail, Crestview Florida had two liens, Bank of America and Eglin Federal Credit Union.  The Bank of America mortgage was a VA guaranteed loan, and Eglin Federal was a home equity line of credit.

The one tricky part of this short sale, was that Bank of America did not want to issue approval until they had an approval from Eglin Federal.  Eglin Federal did not want to issue approval until they had approval from Bank of America.  How did I handle this?  Since Eglin Federal is a smaller bank, they were more willing to bend. They issued a “preliminary” approval that was enough to make Bank of America happy!

Agents should note that Bank of America does not currently process VA Compromise Sales online in Equator. You have to do it the old fashioned way – fax!

If you are considering short sale or VA Compromise Sale, be sure to hire an experienced Crestview FL short sale agent.

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 FL Real Estate

Crestview Florida Short Sales & Pre Foreclosure Help.

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The post Cherokee Bend, Crestview FL – Approved Short Sale by Bank of America and Eglin Federal first appeared on Rulnick Realty.