There were a few twists to this Fort Walton Beach short sale story. The property was a triplex and there were three loans on it. All were with Regions Mortgage. All were Fannie Mae backed loans.  One problem was that the Okaloosa County Property Appraiser said the Triplex was one property, not three.  Regardless of what the property appraiser said, Fannie Mae, wanted three contracts to review. So we had to break the original contract into three.  Regions Mortgage stated they were waiting for Fannie Mae to respond for “months” to our file.  Regions did not always return emails and phone calls promptly, but they did, however, provide me with the direct email addresses of their negotiators.  This is always helpful. Some lenders, such as Suntrust, do not provide negotiator contact information at all.  Another interesting note – Regions accepted electronic signatures. Bank of America would not accept electronic signatures on a Fannie Mae short sale I recently completed with their company, stating that Fannie Mae’s electronic signature guidelines were too onerous.

Finally, in January, after a small counter offer, and the buyer countering back, we had an approval from Fannie Mae via Regions Mortgage.   Or three, that is!  This property is scheduled to close within the next few weeks.  The seller received a full waiver of deficiency.

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

Fort Walton Beach short sale help

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 Fort Walton Beach Regions Bank – Short Sale Approved first appeared on Rulnick Realty.

It’s all about the lot at 812 Lark St., Fort Walton Beach Florida short sale.  At .85 acres, this is the yard you’ve been waiting for. Inside feels spacious, find a tiled family room that could be an office, in addition to the separate living room. Circular drive, newer air conditioner. There is a large shed in back of the property. The lot is twice as large as most others in the neighborhood, leaving the possibility to subdivide open. Two short sale lenders, EMC which is handled by Chase and ASC which is handled by Wells Fargo. This Fort Walton Beach Florida home is in the Wright area, very convenient to Eglin Air Force Base and Hurlburt Field.

812 Lark St., Fort Walton Beach Florida – offered for $127,900.

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

Fort Walton Beach short sale help

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 812 Lark, Fort Walton Beach FL Short Sale Fixer Upper first appeared on Rulnick Realty.

Curb appeal with repeated roof peaks makes this Fort Walton Beach home say “Welcome”! Located in the Willow Bend neighborhood, it’s an ideal location for Eglin Air Force Base or Hurlburt Field commutes.  Some key featuers are interesting architectural touches, cathedralled living room with fireplace, display arches. Roomy kitchen with many cabinets. The small lot will require less maintenance, and there is a one car garage.  This is a Bank of America short sale listing.

Initial offering price – under $100,000

The post 3021 Yorktown, Fort Walton Beach Florida Short Sale first appeared on Rulnick Realty.

Beautiful Okaloosa Island waterfront condo for sale in the Hermitage.  This Fort Walton Beach short sale condo is on Choctawhatchee Bay where the fishing, boating and parasailing are regular activities.  This Hermitage unit has blonde wood laminate flooring, interior window shutters throughout,and crown moulding to add an air of elegance. Slip outside to your balcony, and find a refreshing view of the bay and pool. The kitchen has tiled counters, biscuit colored appliances, large double sink, and upgraded cabinets. Outside activities await you with picnic tables, grill by pool, and a long dock that needs your fishing pole.

Hermitage – Okaloosa Island, Fort Walton Beach short sale condo – offered for $109,900

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

Fort Walton Beach FL Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

The post Hermitage Condo – Okaloosa Island, FL Short Sale – Waterfront first appeared on Rulnick Realty.

Chase approved this Fort Walton Beach Florida short sale in short order!    Initially, Chase tried to fit the sale of this Oakland Addition home into the HAFA program, which allows pre-approved list prices for those who qualify.  That resulted in a quick short sale approval time once a purchase and sale agreement was signed.  If the property valuation had not already been completed, it may have added two to four weeks to the short sale. In the end, it only took 35 days from start to finish to obtain approval.

If you have a Fort Walton Beach home with a Chase mortgage, and are behind in your payments, contact them to find out if you qualify for a loan modification or other Chase assistance.  If Chase does not have an option that can keep you in your home, you may be able to do a short sale.

If you do a Chase short sale, you may be able to get a waiver of deficiency for the unpaid mortgage balance, depending on your situation and sometimes on your ability to participate in the loss.  In any event, be sure to contact an attorney and an experienced Fort Walton Beach 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

Fort Walton Beach FL Real Estate

The post Fort Walton Beach, Oakland Addition Short Sale Approved by Chase first appeared on Rulnick Realty.

This lightning speed short sale approval for a Fort Walton Beach Florida townhouse in Shangra Woods was a great way to start 2011. How long did it take? 15 days!

December 20: Short Sale package faxed to Citi Mortgage

December 29: Negotiator assigned (who says people don’t work over the holidays?)

January 4: Approved!

This Fort Walton Beach short sale seller had one mortgage, which helped the process.  This was not all “slam-dunk”, but close.

Citi slightly countered the purchase price with a minimum net requirement.  I questioned the settlement statement, asking if all fees would be approved if the net were met.  The buyer had asked for 6% closing cost credit.   Citi limited the amount to 3%.  (Many short sale lenders will not pay more than 3% if they even agree to extra closing costs for the buyer.)

The thorough package and excellent communications with the negotiator were the keys to success.  Result?  Happy New Year!

If you are facing foreclosure in Fort Walton Beach Florida, be sure to consult an attorney and an experienced Fort Walton Beach 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

Fort Walton Beach Home Search

Fort Walton Beach Short Sales & Pre Foreclosure Help.

The post First Fort Walton Beach FL Short Sale Approval of the Year first appeared on Rulnick Realty.

#1 Peoples First – Florida’s Community Bank – Denies Short Sale Despite Cancer Diagnosis

#2 Eglin Federal Credit Union – will not do Short Sales

#3 Whitney Bank – will not do Short Sales, but releases lien and seeks deficiency

#4 Vanderbilt Mortgage – claims will not do Short Sales, but will look at a price pulled out of the air

#5 RBC Centura:  Taking Cars in Short Sales?

#6 Countrywide and PMI Short Sales

#7 Ocwen/LCS Won’t Budge

#8 Washington Mutual Won’t Waiver

#9 Bank of America – Issues 2 Contradictory Approval Letters

#10 Aurora Loan Services – Won’t Pay Closing Costs

The post "Top 10" Worst Short Sale Lenders Awards – 2008 first appeared on Rulnick Realty.