This is not your average approval for a short sale property in Santa Rosa Beach Florida. Look below at the letter from Saxon Mortgage. See the amount to the junior lien, Citi Mortgage?
Citi is owed about $99,000 as a junior lien and requested $24,000 to release their security interest. "Ha!" You laugh, "$24,000?" That is insane! But Saxon Mortgage agrees to pay Citi 10% of their outstanding balance, or $9,946.
Of not happy note, is the statement that any extensions beyond the closing date will result in 1% commission cut. That is fascinating, as I will try to prevent hurricanes or other acts of G-d that might delay a closing!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
www.ShortSaleSuperstars.com for agents
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
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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. Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine".