|Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - December 2, 2014|
Agenda Item #17
SHIP Lien Release on Short Sale for James & Gail Dozier
Contact and/or Presenter Information
Denise L. Thomas/Ext. 3474
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.
11.1.4. Efficiency in Service Delivery
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
Instructions to Board Records
Please provide copy of approved Agenda Memorandum to Denise Thomas (firstname.lastname@example.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