I am not discussing “strategic short sales”, meaning those who can afford to pay their mortgages but choose to dispose of their property due to negative equity.  I am talking about homeowners or investors who have spent most of their savings or drained their retirement accounts to keep their payments current.  Homeowners in Florida are some of the most affected in the United States. According to the Mortage Bankers Association:   “Twenty-four percent of all mortgages in the country that are in foreclosure are in Florida and 23 percent of the loans in Florida are anywhere from one payment past due to in foreclosure.”

I’ve spoken to Destin Florida investment property owners who are devastated that they might have to stop paying their mortgage, or have already, to save their family’s ability to keep their primary shelter, health and sustenance.  Especially for an older borrower, with even more remote job prospects, the emotional turmoil is great.

I can understand why the majority of homeowners are emotionally affected by deciding to do a short sale.  Many have stellar credit, and have been stable workers their entire lives. They question their self-image when challenging a core tenet of their being.  They feel there is a social stigma to short sale.  It is hard.  The only words of comfort I can give are for them to understand:

1.       You are not alone.

2.       You must decide whether you can continue paying your mortgage and still be able to protect your family’s primary needs.

3.       You must try to think of a short sale as a business decision, not a personal decision.

The most difficult, but helpful hurdle to overcome is removing “personal” from short sale.  Did you know that businesses short sale real estate all the time to keep afloat? Consider this, even the Mortgage Bankers Association, which touts home ownership, sold its own commercial property as a short sale.  And recovery from a short sale can be quick if there is a settlement and credit is good in other respects.

If you are about to fall behind on your mortgage, or already have, take action now and stop the pain.  Call your lender and try to work it out.  Consult with a Florida attorney.  Consider your options.  If you decide to pursue short sale, it may be the solution that allows you to move forward with dignity.

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

The post The Moral Short Sale Dilemma first appeared on Rulnick Realty.

I was going to write a “Just Listed” post about this Destin Florida VA Compromise Sale townhouse.  I cannot, because I sold it too fast!  1014 Airport Rd, Unit 177, Quail Run, Destin Florida went under contract after four days on the market. Very well priced at $137,900, there was a buyer just waiting to buy this Destin VA Compromise Sale, Bank of America mortgaged, town home. Here is what I was going to write:

“Convenient and lovely brick neighborhood of Quail Run. Neat, clean and inviting! This end unit has an open floor plan with the kitchen overlooking the cathedraled living room. The master bedroom is on the main level. There are two additional bedrooms upstairs with a full bathroom. Central Destin location offers access to the beach, Henderson Beach, Destin Harbor and shopping at Destin Commons.”

Why did this Quail Run Airport Road townhouse sell in just four days? Perfect pricing! It was listed at $137,900. (I will reveal the sale price when it closes after short sale approval.)  What are the next steps? We will fax Bank of America the listing agreement, contract, preliminary settlement statement (HUD), buyer proof of funds and seller hardship letter with military PCS (permanent change of station) orders.  After a couple of weeks, Bank of America will email us a VA “Welcome Package” with additional forms for the service member to fill out and/or provide.  There will be a special VA appraisal ordered of the property. After the seller’s information is analyzed and the contract’s net proceeds to be determined to be at least 88.13% of the appraised value, an approval will be issued.  The buyer will be given about 30 days to close.  The seller is also eligible to receive a $1500 VA Relocation Credit.

Do you have a VA backed mortgage and need to sell your Destin Florida home? Give me a call. I can explain the VA Compromise Sale program and how it may affect you.  850-650-7883

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

Destin 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 1014 Airport Rd. Quail Run, Destin Florida VA Compromise – Short Sale first appeared on Rulnick Realty.

Beautiful short sale home in Emerald Lakes, Destin Florida that is part of the Bank of America cooperative short sale program. 190 Wekiva Cove has a stylish floor plan with high ceilings, formal dining or extra sitting room adjacent to elegant foyer. Center isle kitchen with breakfast bar. Living room feels open with clerestory windows for lots of light. First floor master bedroom. Screened porch. Two big bedrooms upstairs with shared bathroom. Balcony over looks living room and dining area downstairs. Emerald Lakes is a few minutes away from the Gulf of Mexico beaches, Destin Commons and Silver Sands shopping.

What is the Bank of America Coop short sale program?  Unlike many traditional short sales where there is no price determination until the servicer receives a contract, the Bank of America coop program offers a list price in advance.  They will often pay an incentive to the seller to complete the short sale, too. I’ve recently received a short sale approval for another Emerald Lakes home where the seller was pain $5000 at closing.  The Bank of America coop program also offers a waiver of deficiency upon closing.

Does your Destin Florida home qualify for this special program? Give me a call to discuss what type of short sale may be available for you.

190 Wekiva Cove, Emerald Lakes, Destin Florida is offered for $290,000.

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

Destin 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 Emerald Lakes – Destin FL – Bank of America Coop Short Sale first appeared on Rulnick Realty.

This Indian Lake Destin Florida short sale condo was approved for closing in just TWO WEEKS by Wells Fargo! This is the speediest approval we have had in the past year. Wells Fargo works through the Equator system, which is an online short sale and REO platform, except for HAFA and some other programs. This was a Fannie Mae short sale, which makes the speedy approval even more delightful.

The Indian Lake condo complex in Destin is very HOT right now.  The two bedroom condo was listed at $94,900.  It went under contract in two weeks! The market for these units is improving, and and prices are rising. They make great investments, as many are purchased as long term rental units.  Indian Lake has a community pool and is three minute drive to public beach access on the Gulf of Mexico. There is extraordinary shopping nearby at Destin Commons, plus a Fresh Market grocery store…

If you are thinking of listing your Indian  Lake unit, give me a call at 850-650-7883.  I can do a quick market analysis for you and help you decide whether to go forward.

Read my testimonials and marketing plan.

It’s Wendy!

The post Indian Lake, Destin Florida Short Sale – Approved in 2 Weeks first appeared on Rulnick Realty.

This Sandpiper Cove Destin Florida condo Unit 1009 is under contract and on its way to SOLD!   This is a one bedroom unit has about 700 square feet. Walk to the private beach on the Gulf of Mexico, right across the street on Holiday Isle. Play the nine-hole par three golf course. Or do you prefer tennis? There are six tennis courts, three lit… Five pools, (one outside your balcony), hot tubs, Louisiana Lagniappe Restaurant, Rick’s Sandtrap bar on the beach, canal docking for your boat and more!  Sandpiper Cove condos are popular to buy as vacation rentals or as second homes. This Sandpiper Cove unit is a short sale with Suntrust and Bank of America.

This property was sold due to strong online marketing, presentation and correct pricing. If you are thinking of selling your Sandpiper Cove unit, give me a call.  If you are deciding which agent to pick to list your Destin Florida condo, read my testimonials.

Wendy Rulnick, Broker, Rulnick Realty 850-650-7883 ext 204.

The post Sandpiper Cove #1009, Destin Florida – Listing on way to Sold first appeared on Rulnick Realty.

This Emerald Lakes home in Destin Florida went under contract in 20 days! Listed as a Bank of America short sale with a suggested price, it is part of the Bank of America cooperative short sale program (coop program). In addition, Emerald Lakes is  a beautiful gated subdivision in Destin, with tennis, pools, playground and walking trails. It is located right off Highway 98, Emerald Coast Parkway. Emerald Lakes is in Okaloosa County, but on the border of Walton County.  Marvelous shopping options are nearby – Destin Commons, Grand Boulevard, Baytowne Wharf and more.

This property at 319 Wimico had several showings in its first few days of listing. I also tracked the agent views in the my MLS, which were some of the highest of my active listing at the time. Why is that? Destin single family residential homes at moderate prices are very in-demand. This Emerald Lakes home was listed at a very fair price of $224,600.

Part of the reason this home at 319 Wimico Circle sold so quickly  was its online presentation, description and extensive marketing. If you are thinking of listing your Emerald Lakes homes, interview a Destin real estate agent with the experience you need, backed up by testimonials from other happy sellers.   This Emerald Lakes Bank of America short sale at 319 Wimico Circle, Destin Florida, should be approved to close within 90 days.

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

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,  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.

The post 319 Wimico, Emerald Lakes, Destin Florida – Another Sale first appeared on Rulnick Realty.

Indian Lake two bedroom condo #48, Destin Florida, a Wells Fargo short sale.  These Destin condo units are selling like crazy. This is a third floor unit. The carpet has been replaced, as well as the stove. The cabinets have been refurbished. Indian Lake has a pool, gym and playground. This Destin Florida short sale condo is 10 minutes from Henderson Beach, Destin Commons and Destin Harbor. This unit would be a wonderful full-time residence, second home or long-term rental investment.

This Indian Lake condo at 4009 Dancing Cloud Ct is offered for $94,900.  Call Rulnick Realty to see it today.

Thinking about listing your Indian Lake condo?  Call Wendy Rulnick 850-650-7883 or email  itswendy@rulnickrealty.com

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

SHOULD YOU SHORT SALE OR STAY CALCULATOR

Wendy Rulnick, Broker,  has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”. 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 Indian Lake #48 – 2 Bedroom Condo – Destin Florida Short Sale first appeared on Rulnick Realty.

The post Selling Short Sales in Destin Florida – Really Crazy or Really Good? first appeared on Rulnick Realty.

The post Kelly Plantation, Destin FL – Bank of America HAFA Short Sale Approved first appeared on Rulnick Realty.

1137 Bay Court, Bayview Manor, Destin Florida, was just approved as a VA Compromise Sale.  The VA Compromise Sale program is helpful for homeowners who have a VA mortgage, and fall into financial hardship.  Like a short sale, it allows the borrower to sell their property when the market value is less than the remaining loan balance.  Here are the details of this Destin Florida VA Compromise Sale:

Mortgage holder: Bank of America

Original VA Mortgage: $262,000 appr

Current Market Value: $238,000 appr

Time for Approval: 80 days

Short Sale Deficiency: none

Bank of America’s processing of VA Compromise Sales can take longer than other short sales. Why? They have fewer “negotiators” who can handle these type of files. VA short sales are not processed through Equator, which Bank of America uses for non-government short sales. Many Eglin Air Force Base or Hurlburt Field service members have VA home loans. When faced with a required PCS (permanent change of station), in a down real estate market, they can use the VA Compromise Program to avoid foreclosure. Other options are the military’s HAP (Homeowner Assistance Program), traditional short sale, renting out the property, or bringing cash to cover the deficiency.

Do you have questions or need help with a potential VA Compromise Sale in Destin Florida or the surrounding towns of Crestview, Niceville, Navarre or Fort Walton Beach? Email me at itswendy@rulnickrealty.com

The post Destin Florida VA Compromise Sale Approved by Bank of America first appeared on Rulnick Realty.