Wendy Rulnick's Blog (84)

VA Compromise Sale Net Change - Good News!

VA Compromise Sale percentage

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…


Added by Wendy Rulnick on November 21, 2013 at 1:53pm — No Comments

How to Get VA Compromise Sale Approved Netting Less Than 88.13%

VA Compromise Sales

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…


Added by Wendy Rulnick on August 2, 2013 at 2:45pm — 2 Comments

Your Short Sale is Declined! Bank of America's Version of "DENIED!"

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.…


Added by Wendy Rulnick on April 7, 2013 at 6:24am — 1 Comment

HAP Program Ending September 30 2012 - Other Options For Military

If you were stationed at Eglin Air Force Base, Hurlburt Field or Duke Field, were PCSd and need to sell, your HAP option is about over.  You must act NOW if you think you qualify for the program, to avoid …

Added by Wendy Rulnick on September 19, 2012 at 3:30pm — 2 Comments

Eglin AFB HAP Private Sale Option

Eglin HAP agent  

Did you know you don’t have to be “upside down” in your mortgage to use the HAP program? That’s right! Military members who PCS’d from Eglin Air Force Base, Hurlburt Field, Duke Field or Whiting Field should know their options! Most people think HAP is only…

Added by Wendy Rulnick on May 22, 2012 at 12:00pm — No Comments

Bank of America Cooperative Short Sales - Head Spinning

Bank of America Cooperative short sales are not always as “easy” or “fast” as they make them out to be. If you have received an offer to do a Bank of America cooperative…

Added by Wendy Rulnick on May 19, 2012 at 9:08am — 8 Comments

HAP PCS - Government Assisted Private Sale Ends

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 …


Added by Wendy Rulnick on February 9, 2012 at 5:59am — No Comments

Check Your Security Clearance Before Short Sale

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 …


Added by Wendy Rulnick on February 7, 2012 at 7:38am — No Comments

USDA Chase Short Sale Approved Santa Rosa Beach Florida

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 …


Added by Wendy Rulnick on January 25, 2012 at 3:43pm — 2 Comments

HAP PCS - Why Am I Bringing Money To Closing?

Eglin HAP


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…


Added by Wendy Rulnick on January 19, 2012 at 2:55pm — No Comments

Bank of America Offering Big Cash to Florida Short Sale Sellers

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

Added by Wendy Rulnick on October 5, 2011 at 12:35pm — 3 Comments

Ginnie Mae USDA Short Sale Approved - Fort Walton Beach Florida



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


Added by Wendy Rulnick on August 19, 2011 at 3:30pm — No Comments

Why Are They Foreclosing When You Have a Short Sale Contract?


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…


Added by Wendy Rulnick on August 18, 2011 at 12:00pm — 2 Comments

The Moral Short Sale Dilemma


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…


Added by Wendy Rulnick on July 9, 2011 at 9:18am — No Comments

Is Early Occupancy OK for Short Sales?


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.…


Added by Wendy Rulnick on May 21, 2011 at 8:41am — 37 Comments

Destin FL Short Sale - 3 Challenges to Approval

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…


Added by Wendy Rulnick on April 18, 2011 at 11:16am — No Comments

How to Apply for a HAFA Short Sale


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


Added by Wendy Rulnick on March 21, 2011 at 3:31pm — No Comments

Not All Short Sale Sellers Want Deficiency Waiver

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…


Added by Wendy Rulnick on March 10, 2011 at 12:00pm — 1 Comment

FTC MARS Checklist for Florida Short Sale Agents


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…


Added by Wendy Rulnick on March 5, 2011 at 5:00am — 2 Comments

VA Compromise Short Sale Changes Help Crestview, Navarre Florida Homeowners


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…


Added by Wendy Rulnick on February 1, 2011 at 9:28am — No Comments


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