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The post Thank You To My Emerald Coast of Florida Short Sale Sellers first appeared on Rulnick Realty.

Chase Approves Destin Florida Short Sale – Quick!

Wendy Rulnick — Wed, 29 Sep 2010 15:33:31 +0000

Chase has approved the short sale of 1 Pine Ridge Trace, Destin Florida.

Details?

Senior Lien: Chase Home Finance

Balance: $185,000

Junior Lien: JP Morgan Chase Bank

Balance: $25,000

Sale price: $90,000 appr

For you sleuths who like to analyze investors, this one was Freddie Mac. The mortgage also had a sub-investor pool who utilized MGIC for credit enhancement. Basically, MGIC was the mortgage insurance company for this group of investors. MGIC only allowed $500 to the JP Morgan Chase junior lien.

The interesting thing about this process was that Chase Home Finance communicated strangely with JP Morgan Chase. Even though they are part of the same company, they had me act as a go-between to relay information, get each other’s email addresses and move the process along. A good word of advice when you are dealing with any Chase division as both the senior and junior liens- initiate the process with each division separately. It may speed up your approval time.

Bottom line – this Destin Florida short sale was approved in 36 days.

If you are considering short sale to avoid foreclosure, consider hiring an experienced Destin 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

The post Chase Approves Destin Florida Short Sale – Quick! first appeared on Rulnick Realty.

Report: Short Sales and Your Credit Score

Wendy Rulnick — Fri, 29 Jan 2010 19:44:25 +0000

Curious what will happen to your credit score after a short sale?

The answer is… it depends. How many mortgage payments did you miss? How much debt do you have? What is your outstanding balance to available credit ratio? What is your overall payment history? Your “point” impact will be calculated by FICO based on these and several other criteria. Here is an actual example of how a short sale affected my Destin short sale seller’s credit score.

Property: Destin short sale condo – investment property (not owner occupied)

Lender: Aurora Loan Services

Number of Missed Mortgage Payments: 23

Short Sale Reporting: “Settled for Less Than Full Amount”

Previous Credit Score: 745

“During Short Sale” Credit Score: 646

Credit Score 30 Days After Short Sale: 732 687 and 679 (from the three credit bureaus, Equifax, Transunion and Experian)

My Destin short sale seller was amazed that his credit score seemed to shoot right up after his short sale was complete. This is not always the case. The bottom line is – you won’t know how your score will change until you complete your short sale. But don’t be dismayed, you CAN start to rebuild your credit immediately. And don’t be suprised if your financial future is brighter than you think.

It’s Wendy!

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

www.ShortSaleSuperstars.com for agents

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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.

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East Pass II, Holiday Isle, Destin Florida Condo – Destin Short Sale

Wendy Rulnick — Thu, 05 Nov 2009 17:41:18 +0000

This East Pass Towers II condo on Holiday Isle in Destin Florida is a stunner! You will have great views of both Destin harbor and the pass from two unique balconies! Upgrades galore including a spectacular kitchen for the gourmet – miles of granite counters for buffet line, baking or Top Chefing. All new appliances 2006, custom designed Kohler sink. Wetbar with bowl sink, silver leaf backsplash, silver leaf ice maker. Bamboo-look columns and bamboo floors (2006), designer lighting, pulls, faux paint add drama. Private master suite. Secondary bedrooms have separate doors to balcony. Tons of storage, pantry, shelving makes this Destin short sale condo more like a home. Armour Screen brand hurricane protection ($10,000) for see-through protection from wind. East Pass Towers is located on the end of Holiday Isle. This Destin short sale condo setting offers sparkling views of A.J.’s, harbor lights and the pass to the Gulf of Mexico. Destin beach is at your feet, as this condo is right on the water! Destin short sale offered at $475,000

When selling your Destin short sale property, hire an experienced short sale specialist.

“It’s Wendy!” Wendy Rulnick, Broker, Rulnick Realty, Inc.

Wendy is a short sale and pre-foreclosure specialist and has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”.

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

Email Wendy: itswendy@rulnickrealty.com

The post East Pass II, Holiday Isle, Destin Florida Condo – Destin Short Sale first appeared on Rulnick Realty.

My Best Destin Short Sale – And It Never Happened!

Wendy Rulnick — Sun, 11 Oct 2009 15:59:23 +0000

The Destin Florida couple called me after they had run out of options. The wife’s income had been cut in half, and the husband had been laid off from two different jobs in the past year. They had three children– and their dream home. The house was custom built, and they had put a lot of thought into the details. The husband showed off his hand-hewn railings, the Palladian windows, the unique floorplan. The wife was proud of how spotless it was, despite the three teenagers and dog. It was breaking their hearts to come to this.

They were three months behind on their mortgage. No job in site. They had spotless credit. This was the point of giving in. Their bank would make no arrangements to help them out. They had no choice. The only option they found was to do a short sale. The couple could no longer stay in their beautiful home, and were going to move out of state to seek work. Florida has one of the highest unemployment rates in the country, at almost 11%.

I listed their Destin home as a short sale. Immediately the calls came from agents with buyers eager to see this stunning property. For two months, we marketed it and entertained showings. Each time the couple was eager for feedback. “How can we make it nicer?” they always asked.

Finally, the news came. I had to take the home off the market. Forget about the short sale! The husband got a job! It paid more than his previous job! They would be able to catch up on their payments and keep their house. I was excited for them and happily withdrew the home for sale.

Sadly, this is the first such story I have had since the Destin short sale market began. Most of my sellers have had to move out of state looking for work. Perhaps, though, this is the start of a new trend, and more homeowners will be able to find jobs and keep their property. I will be at their service either way.

It’s Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR 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

The post My Best Destin Short Sale – And It Never Happened! first appeared on Rulnick Realty.

Another Destin Short Sale Approved

Wendy Rulnick — Sun, 11 Oct 2009 15:03:26 +0000

This beautiful Destin home was just approved for a short sale. It is in the Laurel Grove subdvision in Sandestin Florida.

Lienholder: Wells Fargo

Mortgage Balance: $560,000

Sale Price: $399,000

Approval Time: 90 Days

If you need to sell your home as a short sale in Destin or Sandestin, Florida, it is best to contact an experienced short sale agent.

It’s Wendy!

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