Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - December 2, 2014
REVISED December 2, 2014 - Regular Meeting
Agenda Item #17

SHIP Lien Release on Short Sale for James & Gail Dozier


Contact and/or Presenter Information
Denise L. Thomas/Ext. 3474

Action Requested

Authorization to permit County Administrator, or his designee, to accept $3,500 at the closing of the short sale for a release of Manatee County's second mortgage on the property owned by James and Gail Dozier, 2308 33rd Avenue Drive East, Bradenton.

Enabling/Regulating Authority
11.1.4.  Efficiency in Service Delivery

Background Discussion

CitiFinancial, Inc., the first mortgagee, holds a mortgage in the amount of $121,542.87 of which the unpaid balance on the principal is $115,521.15.  Manatee County holds a second mortgage of $22,128 through the State Housing Initiative Partnership (SHIP) program.

CitiFinancial, Inc., is tendering the sum of three thousand five hundred dollars ($3,500) in exchange for a release of Manatee County's second mortgage to allow a short sale for $90,000.00

The Property Appraiser shows this property valued at $64,600.00.

If a foreclosure action should occur and proceed to the sale of the property, Manatee County is certain to receive nothing on its mortgage.

Staff recommends approval of this settlement offer. 

County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other

Reviewing Attorney

Instructions to Board Records
Please provide copy of approved Agenda Memorandum to Denise Thomas (denise.thomas@mymanatee.org), Neighborhood Services Department, following disposition.

Cost and Funds Source Account Number and Name

Amount and Frequency of Recurring Costs

Attachment:  Dozier Hardship Ltr.pdf
Attachment:  Short Sale Settlement Offer.pdf
Attachment:  HUD Settlement Stmt.pdf
Attachment:  Sales Contract.pdf
Attachment:  Property Appraiser Value.pdf