Destin HUD pre foreclosure sale

This HUD FHA short sale at 800 Wild Oak, Destin Florida, was approved by Bank of America in 13 days!  Why? How? What?

Why?  The seller was proactive!  He contacted Bank of America early when he was unable to pay his mortgage.  When a modification did not work, he applied for the HUD Pre Foreclosure Sale Program.

How?  When my Destin seller contacted me,  he provided me with the HUD Approval to Participate form, indicating a starting list price. 

What? I obtained a full price offer for the seller in one day.  I ensured the contract was written without closing costs HUD won't pay.  They will only pay reasonable seller's costs, (with the exception that if the buyer's loan is FHA, they will credit 1% towards buyer costs).

In fact, the Bank of America short sale negotiator emailed me:"I wanted to inform you I have never received a HUD (settlement statement) that was this clean. Thank you so much!!! It definitely makes my job easier!" 

Destin Florida short sales

Additionally, because I sold this seller's home so quickly, he qualified for a HUD seller credit of $1000. That's the incentive HUD pays if the property sells within 3 months of application (reduced to $750 thereafter).

If you have a Destin Florida home with FHA HUD mortgage, and you are unable to make your mortgage payments, contact your lender right away.  Consider a HUD Pre Foreclosure sale, and be sure to contact an experienced Destin HUD short sale agent.

It's Wendy!

Ocean View

I received final approval from GMAC and Regions for this pending Destin Florida short sale in Crystal Shores. This unique Destin Florida home at 4495 Ocean View Drive, had a challenging short sale approval process. 

The GMAC Broker Price Opinion came in much higher than the contract price.  I submitted a counter-analysis of my own, which they accepted, proving the buyer's price was fair.  Meanwhile, Regions did not know which department handled this particular short sale. Then GMAC would not complete their approval process, after three months of negotiating, until they had Regions letter in hand.  

It sounds like a lot, but it was only a few months of wrangling.  In the end, it worked. 

Another Destin short sale approved. Closing July 12. 

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

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.  

 Sterling Shores

Regions Bank has approved a Destin Florida short sale in the Sterling Shores condo complex. This unit was in a spectacular setting with views of Gulf of Mexico and luscious pool and landscaping! This smartly decorated unit with breezy balcony provides perfect vacation home to enjoy Destin Florida. Sterling Shores offers a 4300 square foot lagoon pool, workout room, clubhouse, seasonal snackbar, movie theater, wireless internet. Walk to Gulf of Mexico Destin beach across the street.  Great restaurants are adjacent!

This Sterling Shores short sale was approved in about 90 days.  The offer was based on the list price of $169,900.

Should you wish to sell your Destin Florida condo, be sure to contact 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

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.  

Destin short sales

Bancorp South has approved a condo short sale in Harbor Plantation, Destin Florida. Bancorp South primarily operates in the Southeast. Bancorp South does not process short sales like the major lenders (Bank of America, Wells Fargo, etc).  Instead they rely on a local attorney who represents them and reviews comparable sales.  It removes many layers of processing. Here are the Destin short sale details:

Property:  Destin condo in Harbor Plantation

Mortgage:  Bancorp South - balance about $650,000

Offer:  about $325,000

Time for Approval:  40 days

Notes:  Bancorp South removes their lien at closing, but deals with the deficiency later

If you need to avoid foreclosure, and do a Destin, Florida short sale, consider hiring an experienced Destin short sale agent.

It's Wendy!

90 Legion Dr., Destin Short Sale 

 

 

This Destin Florida home on 90 Legion Park Loop was just approved for short sale by PHH, who services Coldwell Banker Mortgage. 

Mortgage Balance:  $400,000 appr

Sale Price:  $185,000 appr

Faxed short sale package:  September 29 (final contract) AND April 24 (initial contract)

Received Approval:  November 19

Time for Approval:  Almost SEVEN months **

**Notes:  Original short sale contract (buyer walked) was submitted on April 24.  PHH/Coldwell Banker Mortgage never finalized approval on that submission.  Thus, the second contract faxed on September 29 was just a continuation of the initial process. For several months, PHH would rarely return my phone calls, emails or have any information as to status of this file.  This Destin short sale was finally approved, in all probability, because it was escalated due to imminent foreclosure sale. 

In conclusion, based on this experience and a similar one in process, PHH is still vying for top spot in
"10 Worst Short Sale Lenders" of 2009.

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

Let Wendy Help You With Your Destin Short Sale

It's Wendy!

 

Durango Rd., Destin Short Sale 

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.

Let Wendy Help You With Your Short Sale

Destin Real Estate

 

Bungalo, Sandestin

This beautiful Bungalos at Sandestin home was just approved for short sale.  Sandestin is a subdivision in Destin, Florida in Walton County.  The home is scheduled to close within 30 days.

Lender:   Bank of America, junior and senior liens

Hardship:  Death of borrower partner

Mortgage Balance:  $405,000

Sale Price:  $310,000 approximately

Approval Time:  105 Days

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 FL Real Estate

Destin and Sandestin Short Sales & Pre Foreclosure Help.

Read Destin Real Estate Blog

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

Email Wendy to sell your home or buy a home: itswendy@rulnickrealty.com

 

Destin Short Sale - Laurel Grove

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.

Let Wendy Help You With Your Short Sale

 

Westwinds Sandestin short sale

This 9th floor unit in the gulf-front Westwinds condo in gated Sandestin in Destin Florida was just approved for short saleSoothing jewel-like colors. Granite breakfast bar, inlaid tile backsplash, recessed lighting. Plush furnishings. Tile flooring. Gorgeous sights of beach, grounds, pool. Westwinds is on the south side of Hwy 98, with gulf-front amenities, restaurants, work-out facilities and shopping.

Sandestin in well-know for its Gulf of Mexico and Choctawhatchee Bay setting, Village of Baytowne Wharf and extravagant landscaping.  Just five minutes away are more Destin Florida attractions- Grande Boulevard, Destin Commons and of course, Gulf of Mexico Beaches.

Listed at $589,000, Bank of America has accepted over $300,000 loss.  The short sale approval took 90 days. 

It's Wendy!

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

Let Wendy Help You With Your Short Sale

 

Ariel Dunes Condos

This Ariel Dunes condo, in Destin Florida, has been approved for a short sale.

Lender:  Suntrust

Mortgage Balance:  appr $380,000

Contract Price:  appr $225,000

Terms:  Fannie Mae asked seller for promissory note for $8000 to pay past due HOA fees for $100 month for 80 months.  Seller instead offered $6000 cash contribution.  Fannie Mae agreed.

To avoid foreclosure and sell your Ariel Dunes or any Destin condo as a short sale, contact an experienced real estate agent who specializes in short sales.

It's Wendy!

Contact Wendy Rulnick for Destin Short Sale Help 

 





 

logo.jpg

ActiveRain Real Estate Social Network

 

This site, Wendy Rulnick or Rulnick Realty, Inc. is not providing legal or tax advice.  The information provided is for educational and informational purposes only.  It is recommended that sellers considering a short sale should consult an independent legal and tax advisor for more information. 

No part of this website may copied or reproduced.


CRS - Certified Residential Specialist Equal Housing Opportunity GRI - Graduate, REALTOR Institute

© 2010 Myers Internet All Rights Reserved

Powered by: Myers Internet | Admin Login