phh short sales - Rulnick Realty

Eglin AFB – PHH VA Compromise Sale Approved

Wendy Rulnick — Thu, 08 Aug 2013 12:55:46 +0000

This short sale home near Eglin Air Force Base at 497 Managua Way, Mary Esther Florida, Colina del Oro, was just approved for a VA Compromise Sale!

Here are the details:

Mortgage Servicer (Senior Lien): PHH

Appr Balance: $160,000

Junior Liens: none

Mortgage type: VA

Current Value: $104,000 appr

Time for approval: 95 days

VA Compromise Sales are an option for Eglin AFB PCS situations where the service member has to relocate to another base and is “upside down” in his mortgage. The official “orders” are considered a short sale hardship. Here are the options available to the service member:

1. Rent out the home

2. Sell it as a short sale or VA Compromise Sale

3. Bring the cash difference to closing if available

4. Foreclosure

If you are an Eglin Air Force Base, Hurlburt Field, Duke or White Field service member who has PCS orders, call me to discuss your selling options.

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, 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.

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497 Managua Way, Mary Esther FL – VA Compromise Sale Pending

Wendy Rulnick — Fri, 19 Jul 2013 14:25:01 +0000

This short sale home at 497 Managua Way, Mary Esther Florida, is under contract as a VA Compromise Sale with a PHH mortgage. Mary Esther, located near Navarre’s Hurlburt Field and Fort Walton Beach’s Eglin Air Force Base, is a military community that offers access to the beaches of the Gulf of Mexico, boating, golf, shopping and major airports. This property backed up to Eglin reservation for privacy.

What is a VA Compromise Sale? It is the Veteran Administration’s version of a short sale. One important point about a VA Compromise Sale is that you must have a hardship. What is a hardship? It could be PCS (permanent change of station), divorce, job transfer, medical expenses, death of a breadwinner, unemployment, reduction in pay and more.

With a VA Compromise Sale, a portion of your VA entitlement won’t be available for a future home purchase unless you reimburse the Veteran’s Administration. You may still have sufficient entitlement remaining to buy another home with a VA loan, however. You can find out by calling the VA directly. Another point is that your credit will be affected with a VA Compromise Sale. It may be recorded as “settled for less”. Your FICO score could drop 50-200 points. It may take you a couple of years to rebuild your credit.

Cardinal Estates, Navarre FL – Short Sale Approved by PHH

Wendy Rulnick — Wed, 10 Oct 2012 14:37:44 +0000

This investment property at 2137 Estates Ci., Cardinal Estates, Navarre Florida, was just approved by PHH for short sale closing. Here are the details:

Mortgage: PHH Mortgage (handles mortgages for companies like Coldwell Banker, Century 21, E*Trade, First Trade Union Bank, Carver Federal Savings Bank, Suburban Bank & Trust , First Tennessee Bank, Bank of the Sierra, Comerica Bank, Citizens Republic Bancorp, UBS, Provident Bank, UMB, Bank Atlantic, Banco Popular, etc.

Balance: $168,000 appr

Current Market Value: $85,000 appr

Notes: This Cardinal Estates, Navarre Florida home was purchased as an investment property in 2006. It had one lien, PHH. Cartus Corporation handled the short sale process for PHH. There was no request for seller contribution. The approval letter was issued with this terminology:

This is to confirm that the mortgage loan investor has agreed to accept a short payoff on the above referenced loan. PHH Mortgage Services will execute a Satisfaction and Release of Mortgage upon receipt of funds as provided above and, if applicable, foreclosure activity will cease.

If you need to sell your Navarre Florida home as a short sale or VA Compromise Sale, contact an experienced Navarre Florida 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

Navarre Florida short sale agent

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Worst Short Sale Lenders of the Year Awards

Wendy Rulnick — Wed, 06 Jan 2010 19:17:50 +0000

Each year I give out awards for the worst short sale lenders I have dealt with in the last twelve months. Congratulations to our 2009 winners!

1. PHH – Now Waiting 9 Months for Approval and Counting PHH Mortgage has had a VA Compromise Offer since February 2009 for a Niceville Florida short sale. They were so lame as to do a VA appraisal back in July, then let that expire after six months because they were so slow, and had to order a new one. The sale is still is not approved.

2. USAA will Wait for Short Sale Seller to Die to Go After Probate This Niceville short sale story had a happy ending, but not until after USAA commented they would get their money even if they had to wait for the elderly owner to pass away to get the estate.

3. Saxon Mortgage – Reduces Realtor fee if short sale does not close by approval deadline- for whatever reason- by a full percentage.

4. Green Tree Servicing – Current on Your Mortgage? Short Sale Denied! This short sale servicer denied a Fort Walton Beach short sale because he was current with his payments. They said they would take the “hit” if the seller would take the “hit on his credit”. The homeowner drained his entire savings to make payments after spouse was in a serious auto collision.

5. Finally, who else but BANK OF AMERICA, would makes the list – four times over!

Bank of America Approves Short Sale, But Won’t Finance Approved Amount Here we find a lender who underappraises a Destin short sale condo for the buyer’s mortgage, but on the short sale end- refuses to accept its own appraisal and closes the file! Head spinning yet?

Bank of America – Two Strikes and Buyer Walks As aforementioned transaction goes into round two- Bank of America flubs short sale demands by illiterate negotiator, and refuses to correct error. Short sale denied.

Bank of America Now Wants Your Retirement Account Bank of America is ever so bold now, not even your retirement savings is sacred.

Bank of America – Deficiency Threat Sends Shockwaves The now-infamous Bank of America approval letter has probably caused many a frightened homeowner to pass on a short sale.

Now, that was my list of the TOP worst short sale lenders for 2009, who were yours?

It’s Wendy!

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

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy’s Destin Real Estate Blog

www.ShortSaleSuperstars.com for Realtors- join us!

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

Email Wendy: itswendy@rulnickrealty.com

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