Great job Wendy, this was fast. We see the biggest problems when the second loan is held by another lender.
BB&T Corporation has approved one of my listings for a short sale in Santa Rosa Beach Florida. From my experience, it was a very smooth and expedient transaction. Details:
Hardship: Homeowners in sales – decreased income, medical expenses
Property: Santa Rosa Beach cottage style home, built in 2004, 1900 square feet
Lender: BB&T – 80-20 First and second
Mortgage Balance: $370,000
Offer: $175,000 (fair market value)
Seller Contribution: $20,000 promissory note
Debt Forgiven: $175,000
Approval Time: 35 days from fax to finish
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Wendy Rulnick specializes in real estate sales, short sales, traditional sales on Emerald Coast of Florida: estin Florida real estate, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Dune Allen, Blue Mountain Beach, Freeport, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy Rulnick, Broker and Realtor, has been selling real estate for 20 years. She has won numerous awards, including the coveted ADDY for advertising design. Wendy lists and sells homes, condos and townhomes in Destin FL and the surrounding areas. She is ranked in the top ½ percent of all Realtors on the Emerald Coast of Florida for resale listings sold and was featured in Kiplinger Personal Finance Magazine as a short sale specialist.
All Rights Reserved. *BB&T APPROVES SHORT SALE* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2009 by Wendy Rulnick.
This site, Wendy Rulnick or Rulnick Realty, Inc. is not providing legal or tax advice. The information provided is for educational and informational purposes only. It is recommended that sellers considering a short sale should consult an independent legal and tax advisor for more information.