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
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.|
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
Temecula foreclosure – Why let the banks foreclose on your Temecula home?
You have options to foreclosure take control and call a short sale specialist.
If you do nothing you are giving full control to your lender / banks and they will call the shots. With a short sale Agent you take control of the short sale process and will be aware of what is happening, and in many cases be offered a money incentive to cooperate in the short sale process.
Whats the cost of using a Temecula short sale agent There is NO out-of-pocket costs to you. We are paid by your lender to get the short sale done. They want you to do a short sale it cost them less than a Temecula foreclosure. Take control now and call Realty Works Temecula at 951-217-6745 this is my direct number and I will answer your short sale questions,no drama,no pressure. We have the best short sale team team ready to help you
Know all the facts and do not just let you home be sold via a Temecula foreclosure. You have options.
41720 Winchester Rd #I Temecula Calif. 92590 951-217-6745 DRE# 01156692
Temecula Short Sale Homes vs Bank owned for sale Homes. 951-217-6745
When you are looking for a home to purchase and time is the most important item on your list
the choice is clear the Bank owned home wins.A bank owned home can be closed in 30 days or less.
But on the whole the better buys are the many Short Sale Homes on the market. These homes are highly discounted. In order to get that discount you need to be patient and make sure you are working with a experience short sale specialist. Most short sale sellers (homeowners) are offered incentives to cooperate through the short sale process, so at the end of the short sale your will have a non-damaged bargain home.
So don’t let your real estate agent steer you away from the bargain home a short sale can be.
We have a team of agents helping Temecula and Murrieta short sale clients. These are good buys and the short sale helps the sellers move on and get a fresh start. We help Temecula and Murrieta home sellers.They need the best short sale agents to help them through the short sale process and at no out-of pocket costs to them.
Call the Short Sale Team at Realty Works to buy or sell a short sale home. 951-217-6745
Along with the short sale approvals many of them also received $3,000.00 from their lenders for their cooperation during the short sale.
I’m a senior myself and have also be through a short sale with my home.I know how to guide you through this most difficult type of real estate transaction.My service to you as your short sale agent is always free.
I am a certified short sale specialist and I specialize in Short Sales for Seniors.
41720 Winchester Rd #I Temecula Calif. 92590 951-217-6745 DRE# 01156692
A soon-to-expire tax break for troubled homeowners is helping drive a spurt in “short sales.”
During the three months ended Sept. 30, short sales in which homeowners had fallen behind on mortgage payments soared 22% over last year, according to a report released Thursday by online marketing company RealtyTrac. By comparison, short sales by people current on their payments went up 17%.
In a short sale, homeowners sell at a price that is less than what they owe the bank, and the bank agrees to absorb the loss. The bank unloads the house and the homeowner gets out of a mortgage he can’t afford.
And currently, homeowners don’t have to pay federal tax on the unpaid mortgage debt because of a bailout-era law known as the federal Mortgage Debt Forgiveness Act.
But the act expires on Dec. 31 and, unless it is extended, the IRS in January will start treating unpaid mortgage debt as taxable income for many borrowers. The average amount of forgiven debt in a short sale is about $95,000, according to Blomquist. The tax on that could go as high as $33,250, even more if the Bush tax cuts expire.
Source: NEW YORK (CNNMoney).
Why does a short sale seem to be so confusing.
In order for your lender to go forward with a Short Sale they must also comply with many rules of compliance.
This compliance adds many layers of what will seem and is duplication to the short sale process. In this short sale video Sidney Kutchuk broker at Realty Works Temecula talks about three of the key items that tend to confuse homeowners the most during the short sale process.