Southwest Florida Title Insurance & Real Estate Blog -

You’ve been there, I’ve been there – WE’VE ALL BEEN THERE!

That point in time when you look at all the facts in a transaction and come to question if it will ever close!!!

Do throw in the towel? Call for help?

If you are like most of us, you probable have invested a lot of time and energy into the transaction, so giving up and throwing in the towel is not an option!

That is when we enter the picture and I come to experience the “The Hardest Short Sale Ever” 😉

In the spring of 2010, a Cape Coral REALTOR® who had heard me speak on short sales at the Cape Coral REALTOR ® Association called me to ask if we could help on a potential short sale. This was a seasoned professional; but I could tell from his tone that he seriously doubted that the deal in question would ever be able to close. Because of the size of the deal ($1M+) though, it made sense to at least give it a shot.

Here is a list of items that, at first blush, supported the realtor’s doubts about the possible success of this Cape Coral short sale:

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Not sure if you are on Bank of America’s email list, but if you are not – I wanted to share with you this great news!


Here are some of the Frequently Asked Questions:

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photo courtesy of flickr photographer, nikcname

It’s possible to short sale your property even if your property is encumbered by two mortgages.

Here’s proof that if can really happen even with a Bank of America short sale.

The active players were “EMC Mortgage Corporation holding the 1st mortgage and Bank of America Home Equity Line of Credit holding the 2nd.

After EMC received a complete package, they approved the terms of the short sale in 67 business days! Then the package was handed over to the Bank of America short sale department, specifically the HELOC department out of Jacksonville. They work fast. They approved their side of the short sale in less than two weeks after receiving the complete package. (If you have been following my blog, you will notice that the key to a short sale success is a complete package ;))

Here’s the approval breakdown:

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Winged Foot Title Travels to Great Lengths to close Short Sales (photo courtesy of Carl Wycoff)

What lengths would you go to in order to save your bank mortgage short sale from foreclosure?

Our team at Winged Foot Title refuses to take “NO” for an answer!

After being told that a Saxon Mortgage short sale was a lost cause, Winged Foot Title persevered and got Freddie Mac to approve the short sale and save it from the brink of foreclosure.

This is just one of the examples of the lengths to which our team will go to get the job done.

How many times have you heard of a bank mortgage short sale story like this?

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GMAC Mortgage uses Equator System to close Cape Coral Short Sale (photo courtesy of cliff1066)

The battle is won!

Victory with the Equator System Strategy!

GMAC is doing an awesome job implementing the Equator System into their process. This is helping us at Winged Foot Title achieve speedy approvals.

Check this out:

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Chase Home Finance Approves Lehigh Acres Short Sale

Does this sound to good to be true?

Not when you’re dealing with the Lehigh Acres Short Sale experts at Winged Foot Title.

Check out the scenario of our latest Lehigh Acres Short Sale success story….

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MarsThere has been a substantial amount of buzz in the real estate industry lately about MARS.  No, not the red planet; although the market has been rather other worldly.  MARS is the acronym for “Mortgage Assistance Relief Services”, a set of real estate-related services now defined and regulated by the Federal Trade Commission.  The Final Rule, which became effective on December 29, 2010 was published in the Federal Register on December 1, 2010 at Vol. 75, No. 230, pages 75092 to 75144.  It has REALTOR® associations scrambling to ensure that their members are compliant (see, e.g., the Florida Assn. of Realtors Legal Center Hot Topics page), lest they run afoul of the rule in their short sale negotiations and subject themselves to scrutiny and civil penalty.

All of this buzz convinced me to take a closer look at the rule as it relates to our title insurance-related short sale services.  As far as I know, neither our national nor state (FL) title industry associations have issued any advisory opinions on the new rule regarding mortgage relief.  This is understandable.  The rule is pretty complicated; and either an over- or an under-reaction by the associations could cause issues for their members.  But since Winged Foot Title provides short sale title solutions, I thought it worth our while to look at the rule more closely.  So without going into too much annoyingly detailed analysis, I would like to explore the rule a bit and explain what Winged Foot Title is doing to prepare and to react.

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DreamHome (photo courtesy of

When dreams become reality!

In less than one month, Winged Foot Title has done it again…

Our very own Fannie Mae Short Sale Specialist, Pat Moore, attributes a complete package as the key to this quick approval. Pat said…“this is the fastest turnaround we have seen from Indymac or OneWest Bank.”

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So you are probably here because…

…you are going through a short sale or are interested in learning more about them.

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For your education and entertainment, here is a Winged Foot Title scary but true story…

This is the 12th step in our series: “12 Things You Should Know to Survive a Short Sale.”

…that you should always keep in mind while dealing with a short sale:

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NOT LEGAL ADVICE: This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Every effort has been made to assure that this information is up-to-date as of the date of publication. It is not intended to be a full and exhaustive explanation of the law in any area. This information is not intended as legal advice and may not be used as legal advice. It should not be used to replace the advice of your own legal counsel.

Winged Foot Tite, LLC is not associated with the government, and our [short sale orchestration] service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.