PHONE:  (850) 650-7883 DIRECT:  850-259-0422
12889 Emerald Coast Pkwy #107-A, Destin, FL 32550

SHORT SALE BENEFITS



Why Short Sale?
  1. A “Short Sale” can be a better alternative to Foreclosure or a Deed-in-Lieu of Foreclosure, and will do less harm to your future ability to borrow. Fannie Mae will not provide a new mortgage for seven years after foreclosure, except for extenuating circumstances. With a short sale, however, you may be able to purchase a new home in 2 years or less. Fannie Mae has also stated they will pursue deficiency judgments against those who just “walk away”. In Florida, deficiencies can be collected for 20 years, and creditors have up to 5 years to initially go after you after the foreclosure.

  2. "Foreclosure" on your credit will make it harder to get consumer loans at good interest rates.

  3. "Foreclosure" may make it harder for you to keep your security clearance.

  4. "Deed-in-Lieu of Foreclosure", or just “giving back the keys” to your mortgage holder is not always possible. If you have more than one mortgage on your property, for example, a home equity line, you probably cannot do a deed-in-lieu, since the second mortgage would get nothing from the property transfer. Most lenders require you to attempt a short sale first, in any case. A deed-in-lieu is still a type of foreclosure, which will require you to answer “affirmative” when asked on applications for credit, security clearances or even for employment.

  5. If you own Destin real estate to Navarre to Fort Walton Beach to Crestview, Florida, consult with an attorney and consider a short sale. Importantly, you will be taking action and solving your predicament in a forthright manner, versus having your lender "take" your property in foreclosure, or giving it back to them in a deed-in-lieu of foreclosure.
Wendy Rulnick
Rulnick Realty, Inc
Ph: (850) 650-7883 Fax:1-866-888-7792
12889 Emerald Coast Pkwy #107-A
Destin, FL 32550 US
www.shortsales-emeraldcoast.com
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