This Sandpiper Cove #8111 condo just sold in Destin Florida on Holiday Isle. It was a first studio unit of 470 square feet, overlooking the pool. The front location put this unit within quick walking distance to the dazzling white beach on the Gulf of Mexico. Sandpiper Cove has a lovely, on-site restaurant called Louisiana Lagniappe at the Sandpiper Cove Yacht Club that is well-known to Destin locals.  There are actually many fantastic amenities that keep this Destin resort so popular. You can find nine-hole golf, six tennis courts, five swimming pools, a gorgeous marina, and a lagoon. On the deeded beach, there is another restaurant, Rick’s Sandtrap and 1100 feet of sand to build castles, set up a beach chair or take a swim.  This Sandpiper Cove condo sale was a Freddie Mac short sale with Citi Bank, with a second mortgage with Huntington.  It was speedily approved.

775 Gulf Shore Dr., #8111, Sandpiper Cove studio unit on Holiday Isle in Destin Florida just sold for $80,000.

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

The post Just Sold – Sandpiper Cove #8111 Holiday Isle Condo – Destin Florida 32541 first appeared on Rulnick Realty.

I got a call from a fellow Destin Florida real estate agent who asked for advice on one of her short sales. She said her Destin real estate seller had read my blog posts about my experience successfully negotiating  short sales and maybe I could help. Was I bothered? Of course not! I am always happy to help a fellow agent brain storm a short sale or any other real estate problem.  Specifically, this Destin homeowner had a problem negotiating a with the  second mortgage holder, also called “junior lien holder”. The lender had asked for almost the entire deficiency (amount remaining on the note after all other selling expenses, also called the “net”) to be paid back in order to approve the short sale closing. Most sellers in a short sale situation don’t have sufficient funds to pay back the whole deficit and neither did these Destin short sale sellers.  I suggested to the agent that the customers called the short sale lender directly to explain their situation and perhaps clarify their understanding of the seller’s financial picture. I find it helps in delicate situations with short sale negotiations, especially if a large sum in being negotiated, for the homeowner to call in and give the human side of the story to the lender.

A few days later, I followed up with the agent. She said that my short sale negotiating advice had helped significantly, and the lender had reduced the Destin property owner’s deficiency by more than 70%! Even though this wasn’t my client, I had been happy to help!

If you are thinking about short sale for your Destin Florida property, and need a Destin short sale specialist who has worked with hundreds of lenders in the area and nationally, give me a call at 850-650-7883 ext 204.

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-259-0422.
Email Wendy: itswendy@rulnickrealty.com

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 Do You Need Destin Florida Short Sale Help? first appeared on Rulnick Realty.

Even though this was a speedy Majestic Sun condo Destin Florida, Wells Fargo short sale approval – it didn’t fee like it! It took just six weeks, but the reams of paperwork made it feel like months! Here are the facts:

Senior Lien: Wells Fargo

Junior Lien (HELOC): Wells Fargo

Original Purchase Price: $520,000

Current Market Value: About $240,000

GOOD TO KNOW:

1. Wells Fargo normally processes short sales through Equator, which is an online portal to upload documents, send emails and respond to “tasks”.

NOTE: This Majestic Sun, Destin Florida short sale was removed and processed outside of Equator about a week after we initiated it. Why? Because Wells Fargo placed the short sale in the HAFA (Home Affordable Foreclosure Alternative) program.  That is a special short sale promoted by the Treasury Department offering full waiver of deficiency and sometimes a cash closing incentive to the seller or the tenant.

2. Wells Fargo does not process multiple short sale liens together. What does this mean? If you have a short sale with two Wells Fargo mortgages, you must initiate it in Equator twice, once for each loan, or fax the packages separately if it’s processed outside of Equator. A lot of the forms will be duplicate, and it is unfortunate that Wells Fargo is not as efficient as Bank of America, which processes multiple short sale liens with one set of documents and one transaction.

Wells Fargo senior lien agreed to pay the Wells Fargo HELOC $7558.

This Destin, Miramar Beach Florida Majestic Sun condo is expected to close at the end of September.

If you need help with a Destin short sale, or have questions about the HAFA program or other special short sales, give me a call.

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 Majestic Sun, Destin Florida Condo – HAFA Short Sale Approved first appeared on Rulnick Realty.

The post Strategic Default Short Sale – Foreclosure in Destin Florida – Beware first appeared on Rulnick Realty.

The post Can I Short Sale My Destin FL Home While Current on My Mortgage? first appeared on Rulnick Realty.

This Indian Lake condo in Destin Florida is a Bank of America Cooperative Short Sale. What is that? It means the list price and the seller have been pre-approved for short sale. Bank of America’s coop short sale program is an alternative to HAFA, which is the Treasury Department’s Home Affordable Foreclosure Alternatives program.

One of the key differences between HAFA and the Bank of America Coop short sale program are the qualifications. HAFA restrictions don’t normally allow investment properties to qualify for the program.  Bank of America’s Coop program does accept investment properties. Some of the other key differences are: Coop will allow loans over $729,750, loans originating after January 1, 2009, and a lower debt-mortgage payment ratio for applicants. In addition, the Coop program offers a $2500 relocation incentive to homeowners upon closing.

What are the benefits of Bank of America’s Cooperative Short Sale?  A seller may apply prior to listing his property.  If you are an agent who has listed a Bank of America short sale, you can start the qualification process by going to Equator and “initiating” a short sale.  Then Bank of America will start the review process to see if your seller qualifies. This saves time in the end, as Bank of America will offer pre-approved pricing and cut down on post-contract paperwork from the seller.

This Indian Lake condo in Destin Florida was pre-approved for Coop Short Sale prior to listing.  Bank of America’s price,$61,800, is very competitive. In fact, I’ve already received an offer on it, the first day of listing.

If you are considering short sale to avoid foreclosure in or around Destin Florida, there are many options available – HAFA, FHA, VA Compromise, Coop, HAP and more.  Contact me if I can help.

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

The post Indian Lake Condo, Destin Florida – Bank of America Coop Short Sale first appeared on Rulnick Realty.

If you are selling your Destin Florida home as a short sale, and get an approval, all is wonderful, right? Not necessarily, especially if there are judgments against you from other creditors filed in the State of Florida.  For example, you may owe $25,000 on a charged-off credit card, have a defaulted car loan, small business loan, or a foreclosure from another property.  In order to sell your short sale home, you would have to get your creditor to release its lien from the property being sold.

How do you end up with a lien on your Destin property from an unpaid loan, in the first place? According to the website of Jonathan Alper, Florida Attorney who specializes in asset protection, “ In Florida, a judgment creditor files its judgment with the Florida government in Tallahasseee, and that judgment then becomes a lien on all the debtor’s Florida real estate.”

So, what do you do if you have this $25,000 judgment, and it’s getting in the way of closing your Destin short sale?  If you cannot come to terms with the creditor, and your property is your homestead, you may be able to use Florida Statute 222.01 to have them remove their lien.

Florida Statute 222.01, Methods of Setting Apart Homesteads and Exemptions says, in summary:

1. You can exempt your homestead property from forced sale by filing a written Notice of Homestead describing the property and recording it in the circuit court.

2. The clerk will mail of copy of your notice to your judgment lienor.

3. The creditor has 45 days to “institute an action for a declaratory judgment to determine the constitutional homestead status of the property described in the notice of homestead or to file an action to foreclose the judgment lien, together with the filing of a lis pendens in the public records of the county in which the homestead is located”.  If no action is taken, the judgment will not be considered attached to the homestead property, and the status will remain such for 180 days. So you can complete the sale of your homestead.

If the judgment pertains to taxes, assessments, mortgages on the property itself, mechanics liens, or “other obligations” contracted for the real property, you cannot use this Notice of Homestead to remove the lien.

Florida has a great protection for owners of homestead property. If you are in a short sale situation, and need to apply the Notice of Homestead to remove a judgment, please consult with a Florida attorney and a Destin short sale specialist.

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 FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy’s Destin Real Estate Blog

The post Use Florida Homestead Laws To Help Your Destin Short Sale Even with Judgments and Liens first appeared on Rulnick Realty.

Impressive Destin Florida short sale home in Emerald Lakes with plenty of individuality. Tucked away on the circle part of Wekiva Cove, this elegant home is a stand out. The interior, recently tiled and painted throughout, has 9-10′ ceilings, and a unique layout. The kitchen has new modern cabinets, quartz countertops, stainless steel appliances, new pendant and recessed lighting. The living room has gas fireplace and is partially open to the kitchen to add spaciousness. The tiled Florida room is very cool and relaxing with ceiling fans. Master bedroom is private, with its own door to back yard. Master bath has whirlpool tub, separate sit-down shower, and walk-in closet. Other features include: crown molding, security system, motion detector lights surround sound, hurricane panels for the whole house, new air conditioner. Emerald Lakes has a community pool and tennis court, access to seven lakes for great fishing, gated community in the heart of Destin. Nearby, you’ll find shopping in Destin Commons, Baytowne Wharf, Grand Boulevard and Silver Sands. Of course, the Destin Beaches are a couple minutes away, too. 235 Wekiva Cove, Emerald Lakes, Destin Florida – Short Sale offered for $269,900 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 Destin FL Real Estate Destin Short Sales & Pre Foreclosure Help. Read Wendy’s Destin Real Estate Blog

The post 235 Wekiva Cove, Emerald Lakes, Destin FL 32541 – Home For Sale first appeared on Rulnick Realty.

Yes, you can get a short sale approval with Vericrest and Flagstar on your Amalfi Coast Condo in Miramar Beach Florida!

The Destin Florida Amalfi condo was originally encumbered by a Carrington Mortgage as senior lien, and a Flagstar junior lien. The mortgage servicing was switched from Carrington to Vericrest last year, and the Flagstar servicing went to Strategic Recovery Group (SRG). The nuances of this Miramar Beach short sale provide some material to help you with future dealings with these companies:

Vericrest Financial. The good: Vericrest is one of those short sale lenders (servicers) who will assign a negotiator to you, and keep the same one on the file until the property is sold. So you could have a contract that doesn’t work out, and go directly to the same negotiator next time you get a new one. This saves a lot of time. Most short sale lenders (like Bank of America) require re-starting the entire short sale process, with new seller financials and hardship letter each time you submit a contract. Then you must wait for the file to be “assigned”. Not so with Vericrest. You get a “buddy” for the life of the short sale.

The bad: Vericrest has a not-so-fun “Agent Homework” worksheet that is eight pages long.

Strategic Recovery Group: The good: They answer the phone.

The bad: SRG tries to finagle settlements. For example, on this particular short sale, they doubled their settlement amount from $5,000 to $10,000, when they had previously approved $5,000. I faxed them their prior approval, and they reverted to the original amount. So keep good records.

This was one of those Miramar Beach Destin Florida short sales that dragged on and had to be sold a “few” times before getting final approval. We were finally able to settle with each lienholder for no deficiency. So the end result was a good one.

If you are considering short sale to avoid foreclosure, be sure to consult an attorney and an experienced Destin short sale agent. We can write your success story together.

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 FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy’s Destin Real Estate Blog

The post Yes You Can Get Your Amalfi Condo Short Sale Approved! first appeared on Rulnick Realty.

Bring your toolbox to this unique Miramar Beach Florida short sale home at 303 N Holiday Road. It needs some work, but has potential to be quite a catch with its full apartment and in-ground pool. Cathedralled living room with built-in shelves, angled corner fireplace, sliders to screened porch with built-in outdoor grill and cooking area. The kitchen is very open, with a long breakfast bar, adjacent to dining area. Master bedroom with double trey ceiling. The apartment has its own kitchen, full bath and living area. The Destin fixer-upper short sale home needs attention to paint, cosmetics, pool, and also repair of master bedroom wall that had mold remediation in 2010. A playground of opportunity awaits you in this Holiday Shores, Miramar Beach, FL short sale home.

303 N Holiday Rd,. Miramar Beach FL – Short sale fixer upper offered for $199,000

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 303 Holiday Rd., Miramar Beach FL – Short Sale Fixer Upper with Apartment first appeared on Rulnick Realty.