They finally did it! After years of the VA Compromise Sale net requirement being 88.13% of the VA liquidation appraisal value, it has been reduced! It is now 85.05%.  The VA Circular 16-13-15, “New Percentage to Determine Net Value” made the change…

Continue

I just got an amazing approval on a Crestview Florida VA Compromise Sale from BB&T!  You know the Veterans Administration requirement that the net proceeds of the sale be no less tham 88.13% of the appraised value? And the requirment that the VA Compromise Sale appraisal is firm for six months? This was a breakthrough approval…

Continue

I finally broke down and responded to an automated Bank of America email survey.  The email was titled "Help Us Improve Our Process."  I received the email because one of my Destin short sales was declined in Equator. Why? Our seller was a day late getting us newly requested documents. We had to re-initiate the short sale a few days later.…

Continue

Continue

 

Continue

Continue

If you are an Eglin Air Force Base or Hurlburt Field seller thinking about HAP, (military Homeowners Assistance Program), you may not be aware that effective February 1, the …

Continue

Do you hold a government position, are you in the U.S. Military or are you a Federal contractor? These and many other jobs often require asecurity clearance. If you are considering …

Continue

This Church Street home in Santa Rosa Beach Florida was originally purchased as a short sale in 2009.  For the second time, it is being sold as a short sale, just approved by J.P. Morgan Chase. The mortgage was backed by Ginnie Mae, and was a …

Continue

 

One of the biggest sources of confusion I find with Eglin Air Force Base HAP sales from the seller comes at closing.  First, if you don't know what HAP is - it's the Homeowner Assistance Program from the Department of Defense.  It's designed to help military members who have permanent change of station orders (PCS), and are "upside…

Continue

Have you been sitting on the fence about selling your Destin or Santa Rosa Beach Florida property as a short sale?  Now may be the time to act.  Bank of America has just announced that Florida sellers may be able to receive $5000 to $20,000 cash incentive at closing for completing a short sale.  There are existing Bank of America programs that pay sellers $1500 to… Continue

 

 

Bank America has approved this Fort Walton Beach Florida home for a …

Continue

 

One of my short sale sellers called me confused the other day.  We had his Santa Rosa Beach Florida home under contract as a short sale.  The mortgage holder, Bank of America, had approved the sale recently, and we were moving toward…

Continue

 

Are you considering short sale, but torn thinking it may be the most ruinous personal and financial decision you will ever make?  You are not alone.  As more families are confronted by upside-down real estate values, jobless or with limited income, the…

Continue

 

Move in without closing first? Whoa! I just got an offer on a Destin Florida short sale listing with an early occupancy clause.  The buyer wants to move into the property before closing and short sale approval.  Is that a good idea? One of the negatives of short sales is the waiting time for the buyers during the short sale process.…

Continue

Chase just approved this Destin Florida townhome for short sale.  The process was a challenge. There were past due association fees and a judgment recorded in Walton County.  In Florida, a property cannot be sold unless liens and…

Continue

 

If you are in a short sale situation, you may have heard of HAFA, Home Affordable Foreclosure Alternatives.  If you …

Continue

Today’s trend in short sales is "waiver of deficiency”.  A short sale is where a property is sold without enough proceeds to pay off the mortgage debt. A "waiver of deficiency” is what happens if the lender accepts the short sale proceeds…

Continue

 

On February 25, there was a stir in the Florida real estate world.  The Florida Association of Realtors issued an alert that, yes, we must comply with the new Federal Trade Commission Mortgage Assistance Relief Services (FTC…

Continue

If you are a borrower with a VA home loan in Crestview, Navarre, Fort Walton Beach, Florida and surrounding towns, and are having trouble paying your mortgage, there is good news for you. The Veterans Administration…

Continue