This Holiday Isle home in Destin Florida has been approved for short sale.   A large home at over 3000 square feet, and yards from the Gulf of Mexico, it was originally purchased for a million dollars in 2005.  Here are the short sale details:

Senior Lien: Vericrest Financial

Senior Balance: $845,000

Junior Lien: Specialized Loan Servicing (SLS)

Junior Lien Balance: $130,000

Contract Price: appr $450,000 – less than half the mortgage balances!

The Vericrest portion of this Destin short sale was processed on a software platform called Res.Net.  Similar to Equator, but not as user-friendly, Res.Net required me and my team to enter weekly “market” reports on the property detailing showings and market competition and sales.  At time of contract, we were required to actually upload our pre-ordered title work and provide details photos, similar to an appraisal or Broker Price Opinion.  The figures from the preliminary settlement statement (HUD-1) were entered into the system, but fields were not clearly labeled so it was difficult to figure out.  Even the Vericrest negotiator stated Res.Net was not user friendly to them, either, and asked me to directly email her several times instead of using the software.

Vericrest approved the short sale and agreed to pay SLS about $11,000 to release its lien.  Both lienholders issued a full waiver of deficiency.

Do you need to sell your Destin Holiday Isle home to avoid foreclosure? Be sure to contact an attorney and an experienced Destin short sale agent.

It’s Wendy!

The post Vericrest and SLS Approve Holiday Isle, Destin FL Short Sale first appeared on Rulnick Realty.

Bank of America just approved this Jetty East condo for short sale.  Jetty East is located on the Gulf of Mexico beach on Holiday Isle in Destin Florida. Jetty East has a large heated pool, huge outdoor pavilion, two tennis courts, shuffle board and shuttles around Destin and more.  Jetty East is also near East Pass, with its plethora of fishing boating activities and restaurant and shopping nearby on Destin Harbor and in Destin Commons.

Bank of America was the only lien holder on this short sale. The original purchase price in 2004 was about $300,000.  Today’s value is less than $100,000. Bank of America approved the contract for this Jetty East short sale in a speedy 30 days.

If you are considering short sale to avoid foreclosure on Holiday Isle, be sure to contact an attorney and 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

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy’s Destin Real Estate Blog

The post Jetty East Short Sale Approved – Holiday Isle, Destin Florida first appeared on Rulnick Realty.

Great views of the Gulf of Mexico at 4 Moreno Point, a Holiday Isle property in Destin Florida. This fabulous Thi beach house sleeps 19, so bring all your family. In-ground lagoon pool, game room, four bedrooms with bunkroom to use as fifth. The expansive kitchen, living room and dining are all open and phenomenal size for parties. Downstairs, access the additional recreation room plus gameroom, and more bedrooms. Huge wrap around deck!  Covered parking for several cars, oversized lot. Best of all- walk across the street from this Holiday Isle home to the spectacular Destin Florida beach! This short sale home grossed $65,883 in 2009, projected for $67,846  in 2010.

4 Moreno Point Rd., Holiday Isle, Destin Florida short sale:  $549,000

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 4 Moreno Point Rd., Holiday Isle, Destin Florida – 32541 – Short Sale with Gulf View first appeared on Rulnick Realty.

This townhouse on Durango Road, Holiday Isle in Destin Florida has been approved as a short sale.  It is on a canal on Destin Harbor with a dock.  It needed significant work due to an active water leak.

Lender:  Washington Mutual, now Chase

Mortgage Balance:  $359,000 appr

Sale Price:  $195,000 appr

Approval Time:  5.5 Months

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

It’s Wendy!

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

Destin Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Destin Short Sale Blog

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 Holiday Isle, Destin Short Sale – Approved by Chase/Washington Mutual first appeared on Rulnick Realty.