bank of america short sales: 119 Mooney Rd,. Kenwood, Fort Walton Beach FL -Pool - Short Sale - 05/12/12 05:58 AM
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 … (5 comments)
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bank of america short sales: 781 Majestic Blvd, Crestview FL - Bank of America USDA Short Sale Approved - 04/13/12 05:42 AM
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 … (1 comments)
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bank of america short sales: Bank of America Short Sales - Setting the Industry Standard - 02/12/12 11:51 AM
The key to success in any business is communications. This is equally true for the short sale industry. Which company sets the standard? Bank of America. Their model needs to be emulated by short sale lenders. They are leaps ahead in terms of responsive, communications, simplicity and efficiency of processing. I’ve done hundreds of short sales with dozens of different lenders. No one else comes close to the customer service and systems in place with Bank of America. Of course, they are not perfect. But they get better all the time. Here is why, and here is what should … (9 comments)
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bank of america short sales: 303 N Holiday Rd., Holiday Shores, Miramar Beach FL - Short Sale Approved - 01/12/12 04:13 PM
This home at 303 N Holiday Rd., Miramar Beach Florida was just approved for short sale. This was the second buyer for this home in Holiday Shores, as the first buyer defaulted (failed to close). There was only one mortgage holder. According to Bank of America, the property did not qualify for the HAFA program, so we did a traidtional short sale. Here are the details:
Lienholder: Bank of America
Mortgage Balance: $244,000 appr
Reason for Short Sale: Income reduction
Appr Sale Price: $175,000
Seller Cash Cont: -0-
Seller Promissory Note: -0-
Waiver of Deficiency: Yes
Time for Approval: 60 … (2 comments)
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bank of america short sales: 1215 Thomason Dr., Pine Meadows, Fort Walton Beach - Bank of America Short Sale - 12/30/11 12:10 PM
This is a fun home at 1215 Thomason Dr., with eclectic and enticing touches in Pine Meadows, Fort Walton Beach, FL. Some of the interesting elements are the arched pass-through from kitchen, repeating arch accent above kitchen entrance. Vibrant pendant lights above breakfast bar. Popping red tray ceiling, dining room with lively and inviting wall decor. Mostly tile and wood laminate floors. Big, fenced back yard with brick barbecue. New fence 2005. Air conditioner replaced within past 5 years. Seller repairing French door and installing new pedestal sink. Located in the Wright, Willow Bend area of Fort Walton Beach, this home is … (2 comments)
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bank of america short sales: Emerald Lakes, Destin Florida Short Sale Approved - 09/09/11 07:18 PM
This home in Emerald Lakes, Destin Florida, was just approved for short sale. An uncommon scenario, it had three liens. The first was an IndyMac mortgage, the second, a Bank of America home equity line, and the third, a judgment from another creditor.
The seller’s attorney said the short sale could not be accomplished, especially with waiver of deficiency. We succeeded, however. Here are the details for this Emerald Lakes, Destin Florida short sale:
Original purchase price - $490,000 in 2005
IndyMac - balance - $350,000
Bank of America - balance - $50,000
Judgment Lien - $40,000 Note: Judgments in … (4 comments)
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bank of america short sales: Jetty East, Holiday Isle, Destin Florida Short Sale Approved - 03/29/11 12:02 PM
Bank of America just approved this Jetty East condo for short sale. Jetty East is located on the Gulf of Mexico beach on Holiday Isle in Destin Florida. Jetty East has a large heated pool, huge outdoor pavilion, two tennis courts, shuffle board and shuttles around Destin and more. Jetty East is also near East Pass, with its plethora of fishing boating activities and restaurant and shopping nearby on Destin Harbor and in Destin Commons.
Bank of America was the only lien holder on this short sale. The original purchase price in 2004 was about $300,000. Today’s value is less than … (3 comments)
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bank of america short sales: Hidden Bay Townhome, Navarre Florida Approved as Short Sale - in 39 Days - 12/14/10 03:25 PM
This townhome on Majestic Boulevard, Hidden Bay, Navarre FL was just approved as a short sale!Details:Senior Lien: Bank of AmericaBalance: $190,000Junior Lien: Bank of AmericaBalance: $30,000Sale Price: $105,000 apprTime for approval: 39 days!This short sale was processed through the Bank of America Equator system. We uploaded all financial documents for the seller. Bank of America previously required sellers to upload their own financials, such as bank statements, tax returns and pay stubs. Many sellers had problems with the Bank of America Equator software. As you can see, this change in policy is helping speed up short sale approval times!If you need … (7 comments)
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bank of america short sales: Bank of America Approves Steeplechase, Crestview FL Short Sale - No Deficiency - 12/09/10 07:09 PM
This lovely home in the Steeplechase subdivision, Crestview, Florida, has just been approved for short sale. Bank of America took 90 days to approve the sale. The delay was caused by Bank of America automatically putting the short sale into the HAFA (Home Affordable Foreclosure Alternatives) program, since it was owner-occupied. It was subsequently removed from HAFA, since all program criteria were not met.Bank of America approved this Steeplechase, Crestview Florida short sale and waived the right to seek a deficiency judgment for the unpaid balance.
There was much negotiation to achieve this short sale approval, which had one investor and Mortgage Insurance. Each party … (9 comments)
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bank of america short sales: Bank of America Approves Indian Lake, Destin FL - Short Sale - 11/30/10 04:22 PM
This Destin Florida condo at 4030 Dancing Cloud Ct was just approved for short sale by Bank of America.
It was an interesting journey selling this Indian Lake condo unit. Over a year ago, Bank of America had a contract with a much higher purchase price. They approved the sale, but the buyer's lender, also Bank of America, appraised it for less. Bank of America's short sale department refused to lower their approved value, so the sale fell through.Fast forward one year later. The condo is now worth almost half. We get a new contract for about $50,000. Bank of America takes an … (9 comments)
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bank of america short sales: Story of a Bank of America - Destin Florida Short Sale Approval - 11/18/10 07:28 PM
Sometimes you only hear the end result of a short sale being approved. Here is the background story of a Bank of America - Destin Florida short sale approval:
Sept 2 - I list a Destin short sale home for $237,900 - difficult to price, with some pending comparable sales higher, and some Destin foreclosures lower. I started on the high end of the scale, with the intent to reduce in thirty days if we didn't get a contract. After that point, I would reduce the price weekly, or more often, depending on my daily price analysis.
Sept 12 - We get a … (6 comments)
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bank of america short sales: Bank of America Approves Shalimar FL Short Sale - No Deficiency - 10/22/10 04:32 PM
Bank of America has approved the short sale for this Shalimar Florida townhome in Country Villas. The original mortgage was for $104,000. The sale price will be about $60,000.
The really good news for these Shalimar short sale sellers? No deficiency!
If you are considering a short sale to avoid foreclosure, contact an experienced Shalimar 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
Shalimar Florida Short Sales & Pre Foreclosure Help.
Read Wendy's Shalimar Real Estate Blog
Wendy is a short sale and pre-foreclosure specialist and … (12 comments)
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bank of america short sales: The Palms, Destin Florida - Short Sale Approved - 09/20/10 04:09 PM
This beautiful condo unit at The Palms in Destin Florida was just approved for short sale.Lender: Bank of America
Payoff: $324,000 List Price: $124,000Notes: Bank of America initially rejected the buyer's offer of $100,000. They countered $119,000 in Equator, the bank's online negotiating platform. The buyer would not come up in value. Instead of simply clicking "no" i.e. rejecting the bank's counter-offer in Equator, I called and emailed the negotiator to find a solution. Otherwise, the file might have been closed. The seller also agreed to participate in the loss with a cash contribution. Result? Approved!If you need to short sell … (6 comments)
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bank of america short sales: How Much WON’T You Pay To Avoid Foreclosure? - 08/26/10 06:11 PM
The other day I had a seller refuse to contribute to the loss on her short sale. Her home was $100,000 upside down, and she had been trying to short sale for two years. She told me she absolutely did not want a foreclosure on her record. During negotiations with Bank of America, the mortgage insurance (MI) company requested the seller pay $3000 to offset some of the $100,000 loss. When they pulled the seller's credit report, they saw she had taken out another loan after she initially defaulted on her mortgage. This is what triggered the request for cash contribution . This is not an uncommon request. … (69 comments)
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bank of america short sales: Bank of America Short Sale - Lengthy Approval and Speedy Closing? - 07/16/10 05:00 PM
Bank of America just approved the short sale for Island Princess Unit 310 on Okaloosa Island, Florida. It took a longer-than normal 4.5 months. And we're going to have a hard time complying with the closing requirements....
The approval letter date: yesterday.
The closing deadline: today.
Enough said.
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 … (70 comments)
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bank of america short sales: A Guide To Assist With Your Bank of America Short Sales - 07/09/10 06:17 PM
If you haven't checked out www.ShortSaleSuperstars.com in a while- you are missing a most vibrant online short sale community! Check out Bryant's post...
Via Bryant Tutas-Tutas Towne Realty, Inc:
Hi folks. Here's a helpful guide put out by Bank of America. To find more useful information like this be sure to visit http://ShortSaleSuperStars.com We now have almost 3,000 Short Sale Professionals sharing information to make handling Short Sales easier for all. Pop over and check us out. It's FREE!!!
BofA Agent Education Guide
Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Want to find out more? … (7 comments)
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bank of america short sales: How Many BPOs Does It Take To Get The Short Sale Price Right? - 07/07/10 03:36 PM
The games we short sale agents must play! Here is a perfect illustration about why short sale lenders should not rely on one value, called a Broker Price Opinion (BPO), to decide if an offer is the right price.1. I list a Fort Walton Beach Florida short sale at what I believe is close to market value- $89,900. I've been doing this for awhile, so my philosophy is to price where other comparable properties will support this value, using recent sales, competition, pendings and expireds. 2. I receive an offer in the $80,000s. The seller and I discuss that this is likely in range of what the BPO … (6 comments)
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bank of america short sales: Is Being "Good to Work With" Key to Short Sale Approvals? - 07/02/10 01:44 PM
I was stunned and delighted to receive this email from a Bank of America VA short sale negotiator:Hey Wendy,
I was able to push through the approval much faster than normal. You have been very good to work with so wanted to do what I could to get it approved. :) Thanks!
WOW! It was exactly 30 days after sending in the short sale package to Bank of America, that my Crestview Florida listing was approved. It was a VA Compromise Short Sale, so those must be faxed in versus using Equator. I did have luck on my side, as the property had … (10 comments)
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bank of america short sales: 2005 Bob White, Quail Run, Mary Esther Florida Short Sale - Sold - 06/01/10 04:41 PM
One year later, Bank of America finally caught on to the real pricing for this Quail Run short sale home at 2005 Bob White Court in Mary Esther Florida. This West of Hurlburt Field property, located in the greater Fort Walton Beach area, has a unique floorplan with large family room, plus formal tiled living with fireplace. The kitchen is center-isle, and there is a oversized, functional utility room/shop. One year ago, Bank of America refused an offer for $112,000. Their appraisal at the time came in for $132,000. So, we played the game, raised the price, then slowly lowered it. Well, … (5 comments)
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bank of america short sales: Bank of America Approves Maravilla, Destin Florida Short Sale in 55 Days - 04/19/10 05:43 PM
It can happen for you! Bank of America has approved a Destin short sale in the Maravilla subdivision - in 55 days! Here is the story:Property: Single family home in Maravilla, Destin FloridaMortgages: Bank of America (formerly Countrywide) first and second - totalling $800,000Offer: about $360,000Promissory Note: -0-
Cash Contribution: -0-Approval Time: 55 daysKeys to Approval: Proper pricing, qualified seller, contract with terms acceptable to Bank of America, tenacious follow upThis Destin short sale was processed through Equator, an online system used by Bank of America for short sales. The seller uploaded her financials in my office. We uploaded the settlement statement, MLS … (7 comments)
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