Why should I short sale my Temecula home?
Chances are you already know the answer, but need to rationalize it out
in your mind. Before going forward with a short sale lets go over a few reasons
a Temecula short sale may be the correct solution for you and your family.
- Your home has lost value and you see no recovery in the near future.
- Your payment has or is adjusting up and you can no longer make the mortgage payment.
- Job loss,reduction in pay,relocation.
Not so Obvious.
- Current laws have opened a window for you to get a fresh start via a short sale.
- Current tax benefit windows will be closing soon.
- A Failed loan modification,this could be your golden ticket into a short sale.
- Saving your credit,Yes a short sale will allow your credit to bounce back quickly.
- No Realtor Fees – you pay no commissions or fees for your short sale.
These are just a few of the facts that may answer your question,”should I short sale my Temecula home?”
I have been helping local Temecula homeowners for over 16 years and have earned the title Temecula Short Sale Specialist and I’m also a certified *HAFA short sale agent.
Lets can go over your situation in detail and then if you decide a short sale is for you, we will go over the process on how to get your Temecula short sale approved at no charge to you. Call me at 951-215-6745
How Can A Temecula Short Sale Agent Help You?
Like many Temecula homeowners caught in the misfortunes of our global economic contraction, you’ve found it harder and harder, even impossible, to make your monthly house payments. Deep down, you know that it’s going to stop. You will not be able to sustain your payments and living expenses as they are now.We have a solution.
You’ve heard the term, short sale bantered about, and as you’re probably well aware, there are many Temecula short sale agents willing and ready to list your home. Some Temecula agents may regard it as an easy listing as they have no real skin in the game. These same agents will list all the Temecula homes they can and only a few will sell. You need a professional Temecula Short Sale Specialist from Realty Works Temecula working for you.
Your Temecula home most likely is a liability that can harm your credit through foreclosure but it will be reported as paid as agreed at the end of a short sale, helping you smoothly transition to a fresh start.Choose the best qualified and experienced Temecula short sale agent who is more interested in helping you to a successful close than just making you another number that ends up foreclosed on.
You can have confidence in my ability to help you. I’ve been helping homeowners in Temecula CA for over 17 years.Realty Works Temecula and Sidney Kutchuk (broker)have a proven success rate.Go with the Temecula & Murrieta short sales specialist.
We specialize in timely and completed approved short sale closings, with minimal impact on your credit and no drama.
If you think it’s expensive to hire a professional,wait until you hire an amateur!
A Temecula Short Sale Agent Can Help You?
by Sidney Kutchuk - Realty Works broker & Certified Short Sale Agent – 951-215-6745
A short sale in Temecula CA
can be your best option this year if you need to sell your property.
2013 is turning out to be the best year for homeowners needing to sell their properties using the short sale process. All sorts of protections and programs have come together this year to help.
- Calif Homeowners Bill of Rights
- H.A.F.A the US Treasury program
- Lender incentives to cooperate in the short sale $$
- Senate Bill SB458 – No Deficiency
- And Realty Works Temecula where you will find the best Temecula Short Sale Agents.
Bank of America does listen to my blog posts.
Today I received a call from Sheri, she said she is with Bank of America Social and had read my blog post and wanted to help.
I listened to what she had to say all the while I am thinking it’s nice to receive a call from BOA but did not think or expect any real help.I thanked her for the call and continued on with my day.
One hour later I received another call from BOA it was a miffed Bank of America negotiator.He was doing a great backpedal as to why he has ignored my many calls and emails to him.This very day today he emailed me three times and reviewed my clients file with a fresh new prospective.The documents I had sent him over a month ago found their way to him as if by magic!
WOW!… Bank of America does listen to our blog posts. Thanks Sheri at the Bank of America Social dept.
41720 Winchester Rd #I Temecula Calif. 92590 951-217-6745 DRE# 01156692
Got HAFA and two home loans. Well your short sale will be a bit more difficult for your short sale agent to get approved. It used to be that the second lender would be happy to sign off for $6,000.00 and allow you out of their loan. Under HAFA guidelines your first lender can offer them up to $8,500.00 to release your second lien. Lately I have been running into short sales were the 2nd states they will not allow the short sale to continue unless they get the full $8,500.00
HAFA is a set of guidelines for lenders to follow, but that’s it they are just guidelines. Many first lender will only offer 6% to 8% of the amount owed up to the maximum of $8.500 which ever is less to a second lien holder. Example you owe $70,000 to the second lender the first will offer $5,600.00 but the second stonewalls your short sale agent for the full $8,500.00. Your short sale agent has to fight with both your lenders to get your short sale approved. Get a short sale expert to fight the good battle and get your short sale approved.
HAFA = Home Affordable Foreclosure Alternatives. One benefit to the home owner via the HAFA short sale process is the relocation help you the seller will receive at the closing in the amount of $3,000.00 and a complete release of the balance owed period. you get a fresh start.
41720 Winchester Rd #I Temecula Calif. 92590 951-217-6745 DRE# 01156692
Always learning, I attended the Short Sale Symposium at Sea this week. I was able to meet and talk with some of the best short sale agents and trainers in the USA. I was asked to speak on a panel. Thats me in the middle with Lee Honish & Brandon Brittingham. Always learning,this way I can stay on top as the best Temecula Short Sale Specialist.
Temecula Short Sale Agents Hotline 951-217-6745
I know that when your thinking to yourself “is a short sale for me” you need a specialist to talk to NOW.
That is why I have posted my direct phone number above.
Let me share with you my 18 years of short sale experence.
This will be a free no pressure call and if you decide a short sale is for you I will list
and market you home at no out-of-pocket costs and very discreetly. I will be your secret agent.
You may also be able to received a Credit for $3,000.00 from your lender for working with me to get your short sale approved!
So call me,I answer my phone until 8:00PM I try my best to answer all calls.If I missed you please leave me a message
I will call back. Guaranteed.
Call the Temecula Short Sale Agents Hotline | 951-217-6745 Realty Works Temecula
Wildomar CA Short Sale Specialist | 951-217-6745
The short sale team at Realty Works Temecula presents…
35930 Gray Whale Lane,Wildomar,CA 92595
Wildomar Short Sale Specialist
|Sidney M Kutchuk|
|Our recent listings
Wildomar Short Sale Specialist
Rancho Bernardo Seven Oaks
Temecula Homes for Rent
Single level Winchester Home
Temecula Pool home
Nearby properties for sale
Short Sale Timing,Fast or Slow?
One of the most common question my clients ask me about the short sale process is: How long does a Short Sale Take?
Even now as we keep hearing from the lenders that they are streamlining the short sale process. Some short sales
are still taking 90+ day to get approved.
Then I can have another client with the same lender take less than 30 days to get the short sale approved. I work then all the same and the timing for the approval letters is never the same,but they do get Approved! My message here is the same for all seller’s give me time, 30 to 90 days and I will get your short sale approved.
at your service,
40150 Winchester Rd #1 Temecula Calif. 92591 Fax 951.676-5681
Bank of America thanks our Temecula Short Sale Team.
Today I received the below email from the Bank of America short sale specialist we worked with.
Thank you for your assistance in completing the current short sale. I was able to verify the documents and process the wire. We at Bank of America look forward to working with you in the future. If you have any feedback regarding your experience with myself or the closing process that you would like to share, please contact my supervisor, Scott xxxxxxxx, at 480-xxx-xxxx or email his at email@example.com. Thank you again for your hard work and dedication. Have a great week!
Short Sale DIL Specialist
FHA Short Sale
2013 is going to be a good year for homeowners needing to short sale their home.
Most all major lenders and servicers have agreed to streamline the short sale process.
Program Updates Effective February 1, 2013
however, Servicers may implement changes immediately
The Home Affordable Foreclosure Alternatives (HAFA) Program is a government-sponsored initiative overseen by the U.S. Treasury Department and administered by Fannie Mae assisting all Home Affordable Modification Program (HAMP)-eligible homeowners in avoiding foreclosure,specifically through short sales or deeds-in-lieu of foreclosure.
BEFORE Feb. 1, 2013
AFTER Feb. 1, 2013
|Required Documents||Use of Short Sale Agreement and Request for Short Sale Approval or forms substantially similar in content are required||Use of Short Sale Agreement and Request for Short Sale Approval documents optional|
|The Short Sale Notice (SSN) and the Acknowledgement of Request for Short Sale (ARSS) are now the preferred forms for servicers with regards to HAFA Short Sales. The Deed-in-Lieu (DIL) Agreement is now optional, and the Request for Approval of Short Sale (RASS) and Alternative Request for Approval of Short Sale (Alt RASS) are being phased out.|
|Response Time||Servicers required to respond within 45 days||Servicers required to respond within 30 days|
|The time frame for servicers to respond to a borrower’s request for a short sale has been shortened from 45 calendar days to 30 calendar days (generally).|
|Pre-Determined Hardship & Affidavit||Affidavit of borrower hardship required for approval of HAFA short sale||Pre-determined hardship (90+ days delinquent and FICO below 620) with affidavit required|
|Borrowers who are 90 days or more delinquent and have a FICO score that is less than 620 will be deemed to have a “pre-determined” hardship. Servicers do not need to further validate the hardship to approve the HAFA short sale. However, they must execute a Hardship Affidavit prior to closing.|
|Short Sale Affidavit||
No arms-length transaction orHUD-1 affidavit required
New HAFA Affidavit to be completed at closing
|A new HAFA Affidavit is now required, while both the borrower and the buyer must sign. This affidavit certifies the sale is an arm’s-length transaction (the homeownerand buyer have no previous connection to one another), that no money is beinggiven or received outside of the HUD 1, and other necessary information.|
|Subordinate LienholderPayoff||Treasury contribution to subordinate lienpayoff $2,000||Treasury contribution to subordinate lienpayoff increased—up to $5,000|
|The Department of the Treasury will now provide up to $5,000 as an incentive to payoff secondary lienholders.|
|No resale before 90 days||
Resale after 30 days allowed
|The current restriction on reselling a property within 90 days after closing is being shortened to 30 days. From 31 to 90 days, the resale price cannot exceed 120% ofthe HAFA short sale price.|
Changes to the Bank of America Cooperative Short Sale Program
The Bank of America Cooperative Short Sale Program may be able to help Temecula homeowners complete a short sale if they owe more on their mortgage than their Temecula house is worth and do not qualify for the Home Affordable Foreclosure Alternatives (HAFA) short sale program. This short sale program can streamline the approval process and offers financial assistance to help homeowners with relocation and moving expenses.
As of January 15, 2013, there will no longer be a temporary foreclosure hold during the Cooperative Short Sale property marketing phase. Bank of America may begin or continue the foreclosure process up until a submitted offer to purchase the property is approved by all relevant parties. Any existing Temecula short sales in progress will not be impacted by these changes.
Call a Temecula short sale agent for more info 951-217-5745 – Realty Works Temecula