Sidney Kutchuk

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How Can A Temecula Short Sale Agent Help You?

Temecula Certified Short Sale Expert

Temecula Short Sale Expert

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

About us  –  Contact us  –  Professional Short Sale Agents  –  Testimonials

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Bank of America thanks our Temecula Short Sale Team

 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.

Temecula Short Sale Agents

BOA thanks the Temecula Short Sale Team at Realty Works Temecula.

Hello Sidney & Valerie,

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 scott.xxxxxxxx@bankofamerica.com. Thank you again for your hard work and dedication. Have a great week!

Darby Sparks
Short Sale DIL Specialist
FHA Short Sale.

2013 Short sale updates.

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. 

Resale Restrictions

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.

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2013 Bank of America Cooperative Short Sale Program

Changes to the Bank of America Cooperative Short Sale Program
for 2013.

Temecula Short Sale Agent

Temecula Short Sale Agent

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 

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Don’t let your lender foreclose on your Temecula home.

Temecula foreclosure – Why let the banks foreclose on your Temecula home?

You have options to foreclosure take control and call a short sale specialist. Certified Temecula Short Sale Expert

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. 

Temecula Short Sale Agent, Cyber Sid at your service,Short Sale QR Code

by Sidney Kutchuk  AKA…Cyber Sid
      SHORT SALE AGENT    www.aShortSale.com
   CALL ME, 951.217-6745 cell

 41720 Winchester Rd #I  Temecula Calif. 92590      951-217-6745    DRE# 01156692   Google me

Find Realty Works Temecula on Google+

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Temecula Short Sale Homes vs Bank owned Homes. 951-217-6745

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

 

 

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Fannie, Freddie align short sale guidelines for 2013

Fannie, Freddie align short sale guidelines for 2013.” Source C.A.R.” Calif Assoc of Realtors.
C.A.R. has long advocated for a streamlined, standardized short sale process, and yesterday changes were announced by the FHFA that will align guidelines for Fannie Mae and Freddie Mac short sales and allow lenders and servicers to quickly and more easily qualify borrowers for a short sale.
Here are some specific changes that are effective Nov. 1, 2012:
  • Eliminates current Fannie Mae and Freddie Mac short sale programs and creates a single standard short sale process for both entities (Fannie and Freddie HAFA programs will expire at the end of the year).
  • Enables servicers to quickly and easily qualify certain borrowers who are current on their mortgages for short sales without waiting for an approval from Fannie Mae or Freddie Mac
  • Offers special treatment for military personnel with Permanent Change of Station (PCS) orders.
  • Standardizes and clarifies foreclosure suspensions on a property with an approved short sale.
  • May pay borrowers up to $3,000 in relocation assistance.
  • Fannie Mae and Freddie Mac will offer up to $6,000 to subordinate lien holders to expedite a short sale.
Additionally, FHFA clarified that a borrower experiencing a hardship must wait at least two years before becoming eligible for a Fannie Mae or Freddie Mac loan.
These changes follow FHFA’s announcement in June that established strict timelines for servicers to respond to short sales within 30 days of receipt of a short sale offer, provide weekly status updates to the borrower, and communicate a final decision to the borrower within 60 days of receipt of the offer.

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Short Sales for those nearing retirement.

Short Sales for SeniorsShort Sales for Seniors.This month the bulk of my short sales have been helping client’s that are nearing
retirement. These sellers had all reached the same conclusion. They all had wonderful homes that they all loved, but could see that they had to come first,not their homes. Their homes had all taken a nose dive in value and they where all saddled with very large mortgages.The short sale was the solution that let them all sell their houses and move on with their life.
What the short sale achieved for them was huge. They all knew that they would never see their home values returning to any were near what they owed, and with the new short sale laws they would not have to worry about the lenders seeking a deficiency judgment.

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.

 

Temecula Short Sale Agent, Cyber Sid at your service,Short Sale QR Code

by Sidney Kutchuk  AKA…Cyber Sid
      SHORT SALE AGENT    www.aShortSale.com
   CALL ME, 951.217-6745 cell

 41720 Winchester Rd #I  Temecula Calif. 92590      951-217-6745    DRE# 01156692   Google me

Find Realty Works Temecula on Google+

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Soon-to-expire tax break for short sales is driving a spurt in “short sales.”

Temecula Short Sale Specialist | 951-217-6745 | Realty Works Temecula

The Mortgage forgiveness Act ends Dec 2012 with no extension in sight.

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 Temecula Short Sales are confusing? | 951-217-6745

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.

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