Destin Florida Short Sales & Real Estate by Wendy Rulnick

Do you love Elliotts Point in Fort Walton Beach Florida? This short sale home at 17 Okahatchee Circle will intrigue you.  The classic 1950’s white home stands out amongst mature trees on its corner lot. It is a charming 4 bedroom house with plentiful windows which add character. Spacious rooms with tile in the main living areas and carpeted bedrooms. There is a "matching" outside storage shed. This home needs a bit of work and updating.

Elliotts Point is a very popular neighborhood in Fort Walton Beach Florida, with older classic homes. It is near boating on Choctawhatchee Bay, chic local restaurants and a short drive to the beaches of Okaloosa Island.  Commuting to Eglin Air Force Base is a breeze from this neighborhood.

17  Okahatchee Circle, Fort Walton Beach Florida - offered for $115,000

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

Fort Walton Beach Florida Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

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. 

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Bank America has approved this Fort Walton Beach Florida home for a Ginnie Mae USDA short sale. It was a lengthy process.  Bank of America only recently added Ginnie Mae short sales to its Equator processing platform.  This file was handled through emails and phone calls directly with a Bank of America Ginnie Mae specialist.

What is Ginnie Mae?  Ginnie Mae is a governmenty entity that guarantees VA, HUD and USDA Rural Housing Services mortgages.  This makes these loans more valuable as investments when sold to the secondary market, thus more attractive to mortgage servicers, such as Bank of America.

What about the deficiency on a USDA short sale?  The deficiency is the amount of the note not covered by net proceeds of the sale.  According to USDA pre foreclosure sale guidelines:

A borrower who successfully sells the property securing the loan using the PFS option is relieved of the mortgage obligation. The borrower shall not be pursued for deficiency judgments by either the Servicer or the Agency 

One caveat about Ginnie Mae USDA short sales - you will not be approved unless you miss at least one payment.  This is not true with many other short sales programs.

If you are considering short sale to avoid foreclosure of your Fort Walton Beach home, contact Wendy Rulnick, Broker.  You may qualify for USDA, Ginnie Mae, VA, FHA, HAFA or another short sale program.

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

Fort Walton Beach Florida Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Wendy's Fort Walton Beach 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. 

Chase has just approved the short sale for this Fort Walton Beach Florida home in the Oakland subdivision. Since the property was a primary residence, Chase initially tried to fit the homeowner into the HAFA program (Home Affordable Foreclosure Alternatives).  HAFA is a federal program that mortgage servicers voluntarily offer with incentives to borrowers and lenders.  In this case, HAFA criteria were not met, so the property went into the Chase's regular short sale program.

Chase offers options regarding the deficiency (balance remaining on the note after sale) depending on the loan type and investor. Chase may waive the deficiency if the seller makes a cash contribution at closing.  If not, the seller will have to make arrangements to pay the balance after closing. Additionally, in some parts of the country, Chase is offering a low-documentation short sale option with a seller credit reported to be between $10,000 to $20,000.

If you are considering short sale to avoid foreclosure, seek legal counsel and an experienced Fort Walton Beach FL 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

Fort Walton Beach Short Sales & Pre Foreclosure Help.

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. 

Attractive Oakland subdvision home with big spaces! 20 Audrey Drive is a Fort Walton Beach Florida short sale.  Large family room with bay window, lots of light, generous kitchen. Expanded master bedroom adds square footage. HUGE yard with above-ground pool and deck. New pool liner 2010. New roof 2004 and new garage roof 2009. Good location near Santa Rosa Mall shopping and convenient to Eglin Air Force Base or Hurlburt Field.

20 Audrey Dr., W, Fort Walton Beach FL - short sale - offered at $99,900

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

Fort Walton Beach FL Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Wendy's Fort Walton Beach 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.

I just received approval for a Wells Fargo short sale in the Bayou Subdvision, Fort Walton Beach Florida.  The approval was a swift 30 days, but the journey getting there was strange.  Here is a summary

9/29 – Short Sale package faxed to Wells Fargo

10/5 – Broker Price Opinon completed

10/22- Negotiator asks for $1000 cash contribution from seller.  Seller asks if buyer can pay this fee, negotiator says “YES”. Buyer agrees to reduction in buyer credit.

10/23- Revised Settlement Statement (HUD) sent to Wells Fargo increasing their net by $1000 by reducing buyer credit

10/24- Negotiator says “unacceptable”, seller must pay this fee (even though she said buyer could pay this fee earlier).

Seller says he'll pay the $1000, but asks if he will get still deficiency judgment on the remainder of the loss?  Negotiator says “YES”.  Seller was then going to cancel  the contract.  I advised seller Wells Fargo's standard approval letter does not seek a deficiency, so let's proceed and see what we get.

10/30- Short sale approved – no deficiency

We got the result we wanted. but it sure was a strange journey!

If you are considering short sale to avoid foreclosure, consider hiring an experienced Fort Walton Beach 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

Fort Walton Beach FL Real Estate

From the wonderful lawn to the many improvements- this Fort Walton Beach Florida short sale home is easy to love! 225 Fliva Ave., in the Bayou Subdivision, has new hardwood floors, remodeled kitchen with custom cabinets, Corian counters, and all new lighting. That's just a start. All windows have been replaced, new air conditioner and new paint! The exterior is brick, the street appeal is upscale.  Located in the Bayou Subdivision in the Cinco Bayou area, just a few minutes to Eglin Air Force Base, Hurlburt Field, or especially, the beaches of Okaloosa Island and Destin Florida. Make it yours!

225 Fliva Ave., Fort Walton Beach Florida - short sale  - offered for $155,000

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

Fort Walton Beach Florida Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Wendy's Fort Walton Beach 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. 

Spacious end unit in the Shangra Woods townhome complex at 940 McFarlan Ave. This Fort Walton Beach short sale home has an open feeling, with breakfast bar between the kitchen and living room.  Want a roommate? Two bedrooms up, each with its own full bath is th perfect set-up. Large double driveway for generous parking. Air conditioner new 2007, new roof 2005, two high impact windows, per seller. This Shangra Woods townhouse is in a great Fort Walton Beach location in Ocean City.  Easy commute to Eglin AFB and Hurlburt Field.  The beaches of Okaloosa Island are about ten minutes away.

Offered at $88,700.

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

Fort Walton Beach Florida Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Wendy's 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. 

This Shalimar Florida short sale townhome is an end unit.  Beautiful upgrades includes: new carpet, new wood-laminate flooring, freshly painted walls, new ceiling texture, upgraded kitchen cabinets and upgraded upstairs bathroom. Two roomy bedrooms. Convenient inside laundry room with an exterior door that leads out to a large exterior wooden deck installed less than one year ago. Roof was replaced apprx. 5-6 years ago. Large corner lot for more privacy and ample parking. Park-like back yard for playing and relaxing. This Shalimar Florida short sale is a few minutes from Eglin Air Force Base and also a quick drive to Hurlburt Field.  Remember, the beach of Okaloosa Island are nearby, too!  The short sale lender is Bank of America, so expect an approval within 60-120 days.

Offered at $69,900.

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

Shalimar Florida Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Wendy's Fort Walton Beach 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. 

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Greetings from your new Mary Esther Florida home in Wynnehaven Beach Estates! This Fort Walton Beach short sale is a great find.  Vaulted ceilings in living area with fireplace, tiled floors, eat-in kitchen, separate dining area. Relaxing oversized screened-in patio/sunroom. Large fenced yard with storage shed, corner lot. This Fort Walton Beach short sale home is close to Eglin Air Force Base, Santa Rosa Mall, and of course, the beaches of Okaloosa Island and Santa Rosa Sound.

Offered at $119,900

Search all Fort Walton Beach homes for sale.

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

Fort Walton Beach Florida Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Wendy's Fort Walton Beach 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. 

Subscribe to It's Wendy's Blog by Email

My most recent Fort Walton Beach short sale approval was like going through ten rounds in a boxing match.  The senior lien, Carrington Mortgage, initially wanted the seller to pay a $150,000 promissory note, or about $450 per month, to cover the loss. The seller, having no income, said no.  Carrington then dropped the request and asked for a cash contribution of $10,000.  Again, the seller said no.  After weeks of wrangling, Carrington settled for the contract proceeds without any promissory note or cash contribution, and approved the short sale.  Flagstar Bank, the junior lien, received a small contribution from the buyer. Here is the summary:

Short Sale property:  Single Family home in Fort Walton Beach Florida

Senior Lien:  Carrington Mortgage – balance $570,000

Junior Lien:  Flagstar Bank – balance $100,000

Short Sale Offer:  $375,000

Flagstar Cash Contribution:  $5500 (from senior lien and buyer)

Time for Approval:  Four months (it felt like six)

If you are considering selling your Fort Walton Beach Florida home as a short sale, it is best to hire an experienced real estate 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

Fort Walton Beach FL Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Wendy's Fort Walton Beach Short Sale 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.