Destin Florida Short Sales & Real Estate by Wendy Rulnick

Bank of America Cooperative Short Sales in Crestview, Destin Florida

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Tue, 15 May 2012 14:48:59 -0700

If you own a home or condo in Destin, Crestview, Navarre or Santa Rosa Beach Florida and are working with Bank of America to avoid foreclosure, you may have received some confusing information from them in the mail. One is a letter offering you to participate in the Bank of America cooperative short sale program. The other is a "Short Sale Third Party Authorization" where you will fill out your "Designated Representative" information. (That is the form about which I get the most calls). At this point, you've decided you want to do a short sale, and probably have gone through one or more attempts with Bank of America to modify your loan to no avail. They have offered you a special program where you can short sale your home and possibly get a cash incentive at closing (cooperative short sale). There are spots to fill in your your Designated Representative's name, Company Name, State Licensing Entity and License Number. You do not need to fill that part in - just fill in your name, co-borrower's name, property address, and loan number. You should sign the form. Here is where your big decision comes into play.

What do you do next? Decide which short sale real estate agent will best work with you and Bank of America in the short sale of your home or condo in Destin, Crestview, Santa Rosa Beach, Fort Walton Beach or Navarre Florida. How do you go about picking your agent? Start with a google search of agents in your town who are short sale agents. Read about them and their success rates. Call or email them with your questions. The questions they ask YOU will be one of the keys to how well they will work with you and Bank of America to result in a successful short sale on your behalf. Do you have questions now about Bank of America cooperative short sale, Third Party Authorization, VA Compromise Sale, FHA pre foreclosure sale, HAFA, HAP, Ginnie Mae short sales? Email me at itswendy@rulnickrealty.com Let's work together to solve your situation, work through the maze at Bank of America, and help you move forward with your life.

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

Santa Rosa Beach FL short sale help

Wendy Rulnick, Broker, is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". She has successfully helped hundreds of families avoid foreclosure through short sale along the Emerald Coast of Florida. Wendy Rulnick is knowledgeable in all aspects of short sale, including VA Compromise Sale, FHA HUD pre-foreclosure sale, HAP military PCS, HAFA, Bank of America Coop program and more. She is also co-founder of www.ShortSaleSuperstars.com and short sale instructor to agents across the United States. Wendy Rulnick sells real estate in Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Panama City Beach, Eglin AFB, Hurlburt Field.

119 Mooney Rd,. Kenwood, Fort Walton Beach FL -Pool - Short Sale

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Sat, 12 May 2012 05:58:37 -0700

Unique and elegant Bank of America short sale home at 119 Mooney Rd., in the Kenwood subdivision of Fort Walton Beach Florida. 10' high ceilings in main living area, formal entry, transom and palladium windows, crown moulding, accent lighting, wood and tile floors. The kitchen gleams with black granite counters, Maple cabinets, stainless appliances, center island, plant ledges and breakfast bar in an open "great room" with views to the back yard. Two pantries, yes, two...! Living shines with multiple full length windows, dark laminate wood floors and corner gas fireplace, audio video center. Huge master suite has trey ceiling with accent lights, sitting area and two walk-in closets. Its bathroom is very refined and luxurious with custom mirror, long double vanity, whirlpool bath and large tile floor. The four bedrooms on the west wing are private from the rest of the house. One could be your perfect office. Outside there is a custom in-ground pool and oversized covered patio. This Kenwood home on Mooney Rd. is convenient to Eglin Air Force Base, Hurlburt Field and Fort Walton Beach Medical Center.

119 Mooney Rd., Fort Walton Beach FL - Bank of America short sale - offered for $325,700

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 short sale agent

2011 Bob White Ct., Mary Esther FL - Bank of America Short Sale

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Thu, 10 May 2012 05:50:02 -0700

Spiffy West of Hurlburt house for sale at 2011 Bob White Court, Quail Run, Mary Esther Florida. This Bank of America short sale home has cathedralled living room with tall, brick fireplace. Spacious kitchen. Separate formal dining room with chair rail. Large two car garage. It is over 1300 square feet with three bedrooms and two full bathrooms. Easy location for either Hurlburt Field or Eglin Air Force Base commutes, or jaunts to the beach! Yard needs some work.

2011 Bob White Court, Mary Esther FL - short sale - offered for $113,900

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

Mary Esther Florida short sale help

4517 Olde Plantation Place - Kelly Plantation - Under Contract

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Mon, 07 May 2012 10:45:50 -0700

This gorgeous home in Kelly Plantation, Destin, Florida is now under contract in only 30 days. What are my favorite things about 4517 Olde Plantation Place? The kitchen... marvelous slabs of black granite counters, an enormous center island, the tube light above giving just the right ambience. Or maybe it's the master bedroom with the transom windows, private door to porch and the deluxe bathroom with solid cherry finishes and walk-in shower. Kelly Plantation is located near Destin Commons, Fresh Market, health club, and five minutes to the beach. On-site amenities are Fred Couple's 18 hole golf course, Owners Club with pool, five lighted tennis courts, playgrounds work-out center, lake, stables, walking trails and more.

4517 Olde Plantation Place is a Bank of America short sale. The list price is $547,700.

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

Kelly Plantation Listing Agent

Cherokee Bend, Crestview FL - VA Compromise Sale

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Fri, 04 May 2012 06:43:18 -0700

This contemporary home in Cherokee Bend subdivision, Crestview Florida is a VA Compromise Sale. 2834 Atoka Trail is neat, crisp and bright! Kitchen open to dining and living room with breakfast bar. Fun track lighting. Master bedroom opens to outside with French doors, and has two walk-in closets. Master bathroom has double vanities. Enjoy the big fenced yard with screened porch and large covered patio, perfect for cook-outs. Do you fish? A community lake is nearby. This home at in Cherokee Bend, Crestview Florida is well-located for commuting to Eglin Air Force Base, as it is south of I-10. 25 minutes away - Destin beaches!

What is a VA Compromise Sale?

2834 Atoka Trail, Crestview FL - short sale - offered for $159,900

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

Crestview VA Compromise Help

1137 Bay Ct., Destin FL - Bank of America Va Compromise Sale

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Wed, 11 Apr 2012 14:44:16 -0700

Beautiful short sale home in the heart of Destin Florida in Bayview Manor. The yard is a dream - deep, with lovely trellises, and a big screened porch to enjoy it all. Inside you'll find contemporary flair with cathedral and trey ceilings. Fun kitchen with a tile center island and creative track lighting. Much of the flooring is tile. Berber carpet upstairs and in all 3 bedrooms. Nearby - Joe's Bayou to launch your boat or bring your fishing pole. Also, nearby, Destin Harbor, shopping and great places to eat.

This Destin Florida home is a VA Compromise Sale with one mortgage.

1137 Bay Ct., Destin FL - Bank of America short sale - offered for $237,900

What is a VA Compromise Sale?

Why should I VA Compromise Sale?

VA Compromise Sale Q&A

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

Destin Florida VA Compromise Sale help

781 Majestic Blvd, Crestview FL - Bank of America USDA Short Sale Approved

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Fri, 13 Apr 2012 05:42:34 -0700

This Eagles Landing short sale at 781 Majestic Boulevard was just approved in Crestview Florida. It was a tedious process because the investor for the mortgage was Ginnie Mae USDA. Here are the details:

Mortgage Holder: Bank of America

Original Mortgage: appr $135,000

Current Market Value: appr $65,000

Other Liens: Yes

Time for Approval: 4.5 months

Notes: This short sale process was lengthy. Why? Bank of America does not handle its Ginnie Mae USDA short sales in Equator, their online processing platform. In addition, only a few negotiators at Bank of America are qualified to handle these type of files. The Ginnie Mae requirements are onerous. The package for Ginnie Mae consists of standard financial documents PLUS the following:

1. Verification of Information and Occupancy on a special form

2. The listing agreement MUST contain the following EXACT verbiage: “Seller may cancel this agreement prior to the ending date of the listing period without advance notice to the broker and without payment of a commission or any other considerations, if the property is conveyed to the mortgage insurer or the mortgage holder.”

3. Current, Non-Expired copy of MLS listing

4. Request for Pre-Foreclosure Sale and Affidavit (2 pages)

5. Purchase Contract with the following EXACT verbiage: “Sale is contingent upon the seller obtaining prior written approval of Bank of America”

Another cumbersome part of a Ginnie Mae short sale is that electronic signatures are disallowed. That means documents must be faxed or scanned, which takes more time than e-signatures.

What about the "other lien"? It was a homeowners association outstanding balance of about $5000. Ginnie Mae only agreed to pay $4000, but that amount was accepted as settlement in full by the HOA.

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

Crestview Florida short sale help

Did You Get a HAP Bill for Overpayment after Closing?

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Mon, 09 Apr 2012 14:04:35 -0700

Did you have an Eglin Air Force Base HAP sale in the past few years? If so, be aware that they are auditing files and you might actually receive a bill if they claim you were overpaid. One of my Fort Walton Beach HAP sellers received just such a letter with a bill for almost $5000. They claim he was accidentally overpaid for his sale over two years ago. The letter mentioned he might be "suprised".

If you do receive a bill for overpayment from HAP, you may be offered options, as outlined below:

1. Instead of paying HAP back in a lump sum, you may be able to get a Voluntary Repayment Agreement, i.e. pay HAP back in installments

2. You can ask for and obtain copies of your HAP records

3. You can request the U.S. Army Corps of Engineers re-examine your HAP records to make sure your bill is valid

4. You can ask for an administrative hearing to review your case

5. You can request a waiver or forgiveness of the bill

I suggested that my HAP seller contact the HAP Chief, an accountant or tax attorney or consider getting legal aid on base. If you have had a similar experience with HAP, comment below.

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

Eglin HAP PCS

BB&T Approves Navarre Florida Short Sale in 30 Days

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Wed, 04 Apr 2012 11:38:51 -0700

This was a speedy approval for a vacant land short sale in Sound Hammock, Navarre Florida. The waterfront lot, on Santa Rosa Sound, had one mortgage. Here are the details:

Mortgage Holder: BB&T

Original Purchase Price: $475,000 in 2005

Mortgage Amount: $430,000

Sales Price: $85,000

Cash Contribution Required: Yes

Short Sale Deficiency: Waived

This short sale, obviously, was a huge loss to the investor - over $350,000 when including closing costs. Since it was an investment property, a vacant lot, we expected BB&T to ask the seller for a cash contribution or promissory note, or both. They did. Originally, BB&T accepted the seller's offer of $9000 to completely waive any further deficiency. Before closing, however, BB&T re-contacted us and offered to reduce the cash contribution to $6000 and credit the buyer extra closing costs for a quicker closing. Hurray! All parties agreed. The total time for approval - thirty days.

If you have a BB&T mortgage and are considering short sale, contact an experienced Navarre short sale agent. Questions? Email me at itswendy@rulnickrealty.com

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

Navarre Florida short sale help

17 Birch St., Fort Walton Beach Florida Multi-Family - Needs Work

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Mon, 02 Apr 2012 11:21:44 -0700

Short sale multi-family unit for sale in Fort Walton Beach Florida. A triplex, this property at Birch Avenue consists of three attached townhomes, each with 2 bedrooms, 1.5 baths and 928 square feet for a total of 2784 square feet. Each unit has a private fenced court yard. Handyman will love this part - it needs work! You may want to replace the carpet, cabinetry, windows and and modernize! What are the current rents? Uni A- $500 , Unit B- $600 Unit C- $500, for total yearly gross income of $19,800. There is off road parking for six cars. This is a Regions Bank short sale with no other lienholders. It's hard to find a multi-family unit in the area with such an attractive price. Birch Avenue is located just off Beal Parkway and Highway 98.

17 Birch St., Fort Walton Beach FL - multi-family - offered for $179,700

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

Santa Rosa Beach FL short sale help

Open Letter to Bank of America - New Authorization Form Impractical

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Tue, 27 Mar 2012 12:08:20 -0700

As a small brokerage, I have significant concerns about the new Bank of America Third Party Authorization Form. My concerns about the new authorization are from a practical standpoint. Specifically, only authorizing a licensed real estate agent (or attorney) on a file is a logistical challenge. Here are my concerns from a practical standpoint:

1. As the only authorized agent, if only I can speak to or email Bank of America on my seller’s behalf, I have to be “available” and dedicated to phone or email without interruption by other business tasks or personal matters. If I were unavailable for any period of time, I might miss an instruction from Bank of America or fail to respond in a timely manner, since my paid employee who is my short sale administrator would be unable to respond in my absence

2. My employee who acts as short sale assistant will not be able to handle routine housekeeping or administrative matters via telephone (or email) with Bank of America. Examples: Equator reason for rejection: other, Question over specific paperwork to upload, problem with appraiser access, fax issues, negotiator calling and cannot leave a message if I am not physically available, etc.

3. Should I be the only party authorized to do any type of communication on my seller’s behalf, I would have to change my business practices: I could never be out sick, I could not go on vacation, I could not be on other appointments that take me away from a telephone or email for a day, I would have to become an administrator, which is less productive activity, than my skill set as manager

If I were unavailable, and my employee could not handle a routine matter, the borrower’s file will not be processed in a timely manner, in fact, the borrower’s file could be closed, and potentially, foreclosed on. As a small brokerage, with paid employees on staff, I cannot bring yet another party into my team, for example, asking another licensed real estate agent to “cover” for me to handle routine items or should I become ill or on vacation. Specializing in short sales requires a very tight budget and sometimes results in a negative business profit margin (e.g. they take two to three times longer than a traditional sale, and entail five times the administrative, phone, email, and fax effort). My concerns, and more, are being shared in forums throughout the country. In the past, I have been a big supporter of Bank of America, as you can see from a recent blog post, Bank of America of America Setting the Industry Standard.

This strict authorization, with no concern for practical matters, will be a severe impediment to the ability to be a successful small business owner and to aid to those facing foreclosure.

There are other concerns about the new third party authorization that I am not addressing here, regarding the authorized party having knowledge of what Bank of America or the investor "might" have decided had "other", unnamed information been known. I'll leave that for another post.

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

www.shortsales-emeraldcoast.com

2012 Short Sale Industry Outlook. Free Webinar

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Sun, 25 Mar 2012 08:28:01 -0700

Short Sale Superstars is hopping! We have almost 9000 members. You are sure to learn a lot, get answers to your short sale questions and mingle with the best short sale minds in the nation. Real estate agents, attorneys, third party negotiators, sellers, buyers all interacting to solve problems. Join FREE www.shortsalesuperstars.com

Via Bryant Tutas-Tutas Towne Realty, Inc:

Hi Superstars,

Did you miss our recent member Webinar? If so here is the replay.

2012 Short Sale Industry Outlook-CLICK to play

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Destin Commercial Office for Sale - Miramar Plaza 32550

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Fri, 23 Mar 2012 12:15:13 -0700

Beautiful two story Destin Florida office for sale in Miramar Plaza, architect-designed. Located on Hwy 98 near between Destin Commons and Sandestin, in Miramar Beach. Commerical unit includes six generous offices that can accommodate two or more each, large conference room, kitchen, copier area and lobby. Each office has window to hall for a spacious feel. Lobby has sky-high ceiling for a dramatic effect and granite reception counter, travertine floors. Bonus - huge storage room. Unit was built out in 2006. Fantastic location with strong association, a few blocks from the beach. Association dues include water. Unit size approximately 2100 square feet.

Miramar Plaza is a strip mall with a mix of retail, office and restaurants.

12889 Emerald Coast Pkwy Ste 107-A, Miramar Plaza, Destin Florida for sale - $319,900

iIt's Wendy!

Wendy Rulnick, Rulnick Realty, Inc. Broker/Owner

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

4517 Olde Plantation Pl, Kelly Plantation, Destin Florida - Short Sale

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Wed, 21 Mar 2012 05:47:10 -0700

Elegant Kelly Plantation short sale home in Destin Florida with three car garage, tile roof and privacy, overlooking nature preserve. Stunning finishes like 12' ceilings, travertine tile, crown moulding, upscale fixtures. The kitchen is a fantasy with black granite counters, walls of cabinets, custom wine nooks, uplighting, travertine backsplash, tube light, and fun pendants. Guest quarters with private bath and bedroom adjoin the family room. The master bedroom is fabulous with multiple transom windows, and door to screened porch. The spectacular master bath has solid cherry cabinets, travertine walk-in shower and whirlpool tub. The office has custom travertine floors, built-in executive desk and cabinets, and hidden cords. Kelly Plantation is located near Destin Commons, Fresh Market, health club, and five minutes to the beach. On-site amenities are Fred Couple's 18 hole golf course, Owners Club with pool, five lighted tennis courts, playgrounds work-out center, lake, stables, walking trails and more.

4517 Olde Plantation Pl, Kelly Plantation, Destin Florida - offered for $547,700

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

Destin short sale help

The Oaks, Niceville Florida - Short Sale Approved by Wells Fargo

Wendy Rulnick "Its Wendy!" Destin FL Short Sales (Rulnick Realty, Inc.) — Mon, 19 Mar 2012 13:13:02 -0700

Wells Fargo just approved this short sale at The Oaks condo complex in Niceville Florida. The approval time was less than 60 days, despite Wells Fargo's taxing use of the Equator short sale processing system. Here are the details:

Mortgage Holder: Wells Fargo

Balance: appr $190,000

Sales price: appr $82,000

Waiver of Deficiency: yes

Seller contribution: yes

This Oaks condo in Niceville was an investment property. Often, a short sale seller will be asked to "contribute" to participate in the loss when that is the case. The seller agreed to contribute about $1200, which was negotiated down from Wells Fargo's initial request. The seller received a full waiver of deficiency, meaning, Wells Fargo and the investor on the loan would cancel the rest of the debt, and not seek to collect the balance.

If you need to short sale to avoid foreclosure, contact an experienced Niceville short sale agent.

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