Monthly Archives: January 2012

Short Sale Realtor Fees – No charges to help you with a short sale.

Temecula Short Sale Agent

Short Sale Realtor Fees – No charges to help you with a short sale.

Just listed at no charge to the seller this wonderful Winchester CA home for under $200,000

Temecula short sale specialist

Market Stats

Single Family Home
Main Features
3 Bedrooms
2 Bathrooms
Interior: 1,856 sqft
Lot: 5,227 sqft
31519 McCartney Dr.
Winchester, CA 92596
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Sidney M Kutchuk

Sidney M Kutchuk

Realty Works Temecula
(951) 676-4663


Listed by: Realty Works Temecula

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Temecula Short Sales and HAFA

If you’re a Temecula homeowner facing the real possibility of foreclosure, you may have been hearing references to the acronym, HAFA. HAFA, the Home Affordable Foreclosure Alternatives Program, introduced by the Treasury Department in 2009, is for the homeowner with unresolved financial issues and in a mortgage crisis. You may feel alone in your struggle to cope with foreclosure and the mounting pressures of your mortgage. You may feel that options that can really help you are in short supply. When you’re facing foreclosure, catastrophe and devastation seem to be hanging over you like a dark cloud and they often actually are that close.

There is hope for you and it’s just a call away. HAFA may be the answer for Temecula homeowners just like you. Maybe you’ve already tried to get a loan modification under the HAMP program and the lender acted like it was a joke or that it was never even a remote possibility, crushing your hopes further. If you have been turned down for the HAMP program you should be able qualify for HAFA short sale program.

HAFA provides Temecula homeowners with a much brighter option to foreclosure through the short sale process. The program provides benefits to homeowners in the form of up to $3,000 cash that you get at closing and their are NO REALTOR FEES. There are also some incentives for your lender to participate in the HAFA program although they are not required to.

Eligibility requirements and documentation are similar to those for HAMP, so if you’ve applied for HAMP, most of the work is already done. HAFA Guidelines are somewhat general and qualifications are often interpreted by the lender. The program qualifications are more fluid and have already undergone changes in how it works. Your experienced Temecula short sale agent will know how these guidelines and changes influence your short sale.

Getting your HAFA short sale approved allows you to be totally released from liability on your mortgage. This is called a deficiency waver.

Now is the time to contact your Temecula short sale agents for expert help from the experienced and successful team at Realty Works Temecula . They have an established record of closed sales and many fortunate homeowners who found relief from the burden of overwhelming financial circumstances. Call us today at 951-217-6745  for the first step in your own answer to and permanent relief from your mortgage and financial problems that left unresolved, get worse with every passing day..

Temecula Short Sale Agents – Choosing The Right Agent For You

Many homeowners in Temecula are faced with losing their homes due to foreclosure. Short Sales are becoming a more and more popular alternative to foreclosure among homeowners facing the foreclosure process.

Many homeowners do not understand what foreclosure is; let alone what foreclosure alternative options are available. A foreclosure is when a homeowner is no longer able to make their mortgage payments due to financial hardship or other life changes that someone may be going through. Foreclosure is a legal procedure that a financial lender or a bank goes through to recover the property.

One effective alternative to foreclosure is a short sale. A short sale is when a homeowner is qualified by their lender or bank to sell their house for less than what is actually owed on their mortgage note.

Temecula Short Sale Agents know how important that it is to choose the right agent. The best agents have the experience and patience that it takes to handle this complicated short sale package. Now that we have generally explained what a Temecula short sale is, the first step to take is contacting one of our agents. One of our short sale agents will be able to provide you with more specific information on the qualifying criteria to start the short sale process.

Please note that there is no telling how long a short sale will take. There are many factors that influence the short sale process. Every homeowner has unique circumstances, different lenders that they work with and different obstacles that they must face.

When choosing an agent it is important that you select your short sale agent carefully. Foreclosure is a complicated real estate transaction and should not be trusted to just anyone with a real estate license. The agent that you choose should be familiar and well versed in the short sale process. A short sale is a time consuming and detailed process: knowledge, experience, persistence and patience are key elements to a successful short sale.

Any licensed real estate agent can legally list a short sale, however there are very few agents out there that have the necessary skills to negotiate with lenders and junior lien holders. It takes knowledge and experience to successfully market and sell a short sale home. Our team of Temecula short sale agents specialize in short sales, have the knowledge and experience in every aspect. Our Temecula short sale agents will successfully maneuver you through the short sale process.

The level of agent that you choose to work with will be one of the key factors that ultimately determine how successful and how quick your short sale may be. If you have any further questions on what a short sale is and to determine if a short sale would be the right choice for you, please feel free to contact our office and speak with our Broker Sidney Kutchuk or one of our professional Temecula short sale agents. Through our experience and knowledge we will help to put you on the right path to a successful Temecula short sale and a more hopeful out look and fresh start on your financial future. 951-217-6745.

How Long Does a Temecula Short Sale Take?

How long does a Temecula short sale take?  This is one of the first questions that is asked when a homeowner is facing foreclosure and has chosen to short sale their home. All short sales are different and the time frame on each will always vary.  There are many variables that will factor into the length of the short sale process. So to offer you a fair answer to this question we will need to say that it all depends on the circumstances of the homeowner, lender and the loan itself.

How long does a Temecula short sale take? When putting your home up for a short sale it is important to understand that with a short sale things can constantly change from month to month, week to week and even from day to day.   The length of a Temecula short sale will also depend on the sellers individual circumstances.  Below are a few major factors in determining how long your short sale may take:

  • Who are the servicers on your loan
  • Does your servicer own your note or is there a private investor involved
  • How many loans do you have on the property
  • Is there is a 3rd party involved such as a mortgage insurance company.  In a case like this, the 3rd party will also need to approve the short sale
  • How long it will take to get a good offer on the property
  • What the BPO (broker price opinion) comes back at and how close is it to the offered price.
  • Finally we will need to hope that the buyers will stay in the deal long enough for the deal to go through.

A few years back Country Wide was handling short sales and they took well over 6 months to approve their short sales.  When Bank of America took over Country Wide they become the most difficult bank to work with when it came to handling short sales. There were cases where short sales took up to over a year to be approved.  Since then things have changed with Bank of America,now their short sales can be done within 30 to 60 days and sometimes even quicker.

Chase was also another company that used to be difficult to work with when it came to short sales.  Chase merged with other companies and the already difficult situation become even harder.  Now also policies have changed with Chase and they are very interested in approving short sales in a shorter time.

The point here is that one of the determining factors in how long a short sale can take is the lender and the policies that they have put in place regarding short sales.

So when answering the question “How long does a Temecula short sale take” the best and most honest advice to give is that it all depends on many varables and to just let the short sale process play out. It is very important to select your short sale agent carefully.  A short sale is a complicated real estate transaction and should not be trusted to someone who is not well well versed in the short sale process.  So remember that the key to a successful short sale is letting a well experienced agent handle your short sale and help you maneuver through your short sale process. Your short sale can take as little as 3 weeks and as long as 6 months sometimes even longer. We are happy to say that short sales do not take as long as they did a few years back.

Please keep in mind that once you make the decision to short sale your home the time lines that will need to be met are time sensitive and every day counts. So when you ask the question “How long does a Temecula short sale take” we advise you to contact one of our experienced Temecula Short Sale Agents and let them help to  guide you through your short sale process.


Temecula Short Sale Closing Process

Temecula short sale closing process...what does this process entail and how does it effect you? There are many big decisions to make when you are faced with a foreclosure. Once you understand what the foreclosure process is and what alternatives and options are available to you, the sooner you can take action to make the correct choice for you.
To understand what a Temecula short sale closing is you first need to know what a foreclosure is. A foreclosure is when a homeowner is delinquent on their mortgage payments and is no longer able to make their payments. The lender then takes the legal steps necessary to gain possession of the house and property.There are alternative options to foreclosure one of those options include a short sale. To get more information regarding the Temecula short sale process, contact one of our experienced Temecula short sale agents they will be happy to answer any questions that you may have.

Once again to understand what a Temecula short sale closing is you must understand what the short sale process entails. The first step to a successful short sale on your home is to find the right experienced real estate agent for you.  Not all licensed real estate agents are capable nor well versed in the art of the short sale process. You will need to make sure that the agent that you choose is has the most current foreclosure information available.

Once you have chosen the right agent for you, you move forward with your agent to see if you can qualify for a short sale then list your home for sale.. After you have an offer that you accepted and a buyer that is pre-approved the closing process will begin, (many steps in between will be taken, to gather information, ect…)

What is a Temecula short sale closing? A short Sale closing is the goal of a short sale.  The final events that occurs once all of the documents & proceeds for the sale of the home are in, escrow will proceed to close your short sale.

Key components of a Temecula short sale closing:

  • Preliminary Report – a primary tool used to learn what is recorded against a property. This will verify ownership, confirm the correct legal address of the owner and identify trust deeds, taxes, delinquencies, liens and judgments filed against the property

  • Letter of Authorization – Securing this from the seller will allow the lenders to speak with the assigned agents handling the short sale, the escrow officer and any assistants about the short sale negotiations.

  • Approval letters –  These documents lay out the conditions under which a lender will agree to the with the short sale, some of this information can be time sensitive  and  critical to the closing process.

  • Expiration Of Approval Letters And Other Escrow Time lines –  Generally, approval expires within 30 days.

The Temecula short sale closing process is the result of a lot of hard work, time and effort that goes into putting together a successful short sale package. This includes financial statements, medical bills, divorce decrees, tax returns and much more. The short sale closing process will have “normal” escrow closing procedures. There are additional components that vary from state to state, lenders have different policies and procedures and all short sales have their own unique circumstances, so closings will always be different with each short sale.

For more information on the Temecula short sale closing process please contact our office and speak to one of our professional & experienced short sale agents and remember their is never a fee for our services to help you through the entire Temecula short sale closing process. Realty Works Temecula – 951-676-4663


Temecula Short Sale v. Foreclosure

Temecula short sale v. foreclosure is a decision that many homeowners are now facing. If you are a homeowner that is in this situation you must first must fully understand what a foreclosure is and what alternatives and options are available to you.

For a homeowner to know which choice is the best for them they must first understand what a foreclosure means. A foreclosure is a legal action that is taken against a homeowner by the home’s financial lender or institution when a homeowner becomes delinquent and cannot make their mortgage payments any longer. It is wise to do your best by working an arrangement out with your financial lender prior to a foreclosure being filed. If a foreclosure is inevitable it may be time to seek the advice of an experienced financial and legal advisor as soon as possible. When dealing with a foreclosure it is important to understand that there are time lines and deadlines. Every day will count so do not waste any time.

Temecula short sale v. foreclosure? Which is the best option for you to choose? Most homeowners do not know what options are out there to choose from when faced with a decision like this. A short sale is a alternative option that you should look into opposed to allowing your financial lender foreclose on your home.

Many home owners do not know what a short sale is. A short sale is selling your home for less than what is owed on it. Temecula short sale agents have the experience and knowledge with alternative options to foreclosure and can answer any questions that you may have including what the short sale process entails, helping you qualify for a short sale and most importantly finding out if a short sale is the right option for you.

Temecula short sale v. foreclosure? If you qualify for a short sale, most often that would be the best option for you as a homeowner to take. If you are able to sell your home, alleviate your payments and end the foreclosure process all together, that may relieve a lot of undue stress, pressure and possibly save your credit or lessen the damage to it. Opting to let your home go into foreclosure may only drag the process out longer, the debt will still be there and there will certainly be additional fees and costs both legally and through your financial lender.

When asking yourself the question-Temecula short sale v. foreclosure? the answer is often very simple in order to minimize the damage to your credit and get out of the debt of your home the best option would to be to contact an experienced agent like ourselves and let us give you the best advice for your individual circumstances. After exploring your options and making a decisions to short sale your home we are here and certain that we can help you through this difficult time in your life and give you a better chance to salvage your financial future.