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…
ContinueAdded by Wendy Rulnick on November 21, 2013 at 10:53am — No Comments
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…
ContinueAdded by Wendy Rulnick on August 2, 2013 at 10:45am — 2 Comments
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.…
ContinueAdded by Wendy Rulnick on April 7, 2013 at 2:24am — 1 Comment
Added by Wendy Rulnick on September 19, 2012 at 11:30am — 2 Comments
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Added by Wendy Rulnick on May 19, 2012 at 5:08am — 8 Comments
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 2:59am — No Comments
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 …
ContinueAdded by Wendy Rulnick on February 7, 2012 at 4:38am — No Comments
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 …
ContinueAdded by Wendy Rulnick on January 25, 2012 at 12:43pm — 2 Comments
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 11:55am — No Comments
Added by Wendy Rulnick on October 5, 2011 at 8:35am — 3 Comments
Added by Wendy Rulnick on August 19, 2011 at 11:30am — No Comments
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…
ContinueAdded by Wendy Rulnick on August 18, 2011 at 8:00am — 2 Comments
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…
ContinueAdded by Wendy Rulnick on July 9, 2011 at 5:18am — No Comments
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.…
ContinueAdded by Wendy Rulnick on May 21, 2011 at 4:41am — 37 Comments
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…
ContinueAdded by Wendy Rulnick on April 18, 2011 at 7:16am — No Comments
If you are in a short sale situation, you may have heard of HAFA, Home Affordable Foreclosure Alternatives. If you …
ContinueAdded by Wendy Rulnick on March 21, 2011 at 11:31am — No Comments
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…
ContinueAdded by Wendy Rulnick on March 10, 2011 at 9:00am — 1 Comment
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…
ContinueAdded by Wendy Rulnick on March 5, 2011 at 2:00am — 2 Comments
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…
ContinueAdded by Wendy Rulnick on February 1, 2011 at 6:28am — No Comments
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