Category Archives for "Temecula Short Sale Expert"

Benefits of a Murrieta Short Sale over a Foreclosure

Murrieta Short Sale Agents

The advantages of choosing a short sale over a foreclosure from a Murrieta short sale expert

If you are going through a tough financial situation and are worried that you have no choice but to let the bank take your home, this might not be the wisest decision for you.

As a Murrieta short sale expert, I have seen how selling homes as a short sale have benefitted homeowners who may have otherwise lost money and a good credit standing.

Here are a few benefits of doing a short sale:

  1. You are in control of the sale, and not your lender or the bank.
  2. You can spare yourself and your credit score from the stigma of foreclosure.
  3. You can sleep better knowing who the next owner of your home will be.
  4. Your short sale will be handled by a Murrieta short sale agent like any other normal home sale, with dignity and respect.
  5. You can still be current on your payments while doing a short sale.

The waiting period to buy a new home is shorter after a Murrieta Short Sale

According to the latest Fannie Mae 2016 guidelines, you can reapply for a new mortgage 4 years after a Murrieta short sale, with a 10% downpayment.

If you applied for a short sale due to extenuating circumstances, you can reapply for a new Fannie Mae mortgage 2 years after the short sale, with appropriate documentation of the extenuating circumstances. If you went through a foreclosure due to extenuating circumstances, the waiting time would be 3 years instead of 2 years.

You can also qualify for an FHA loan 1 year after a short sale.

Keep in mind that Fannie Mae and FHA guidelines are not a guarantee that you will be able to buy a home after those suggested timeframes since banks still have the final say and they might have overlays which can change the guidelines set forth by the government. Check with an experienced Murrieta short sale expert on available options you have when it comes to applying for a new mortgage after a short sale.

A short sale does less damage to your credit report compared to a foreclosure

A short sale does not appear as “short sale” on your credit report but as “paid in full for less than agreed” or “settled for less.” Certain HAFA guidelines allow for “no hit to credit” and can show up as paid in full. On the other hand, a foreclosure leaves a heavier dent on your credit report and remains there for 7 years.

Murrieta Short Sales

Deficiency Judgments after a short sale vs. foreclosure

Deficiency judgments are negotiated between the short seller and the lender. In California, if the Murrieta short sale home is your personal residence and was financed through purchase money, you won’t have a deficiency judgment.

On the other hand, after a foreclosure, banks are usually unwilling to negotiate deficiency judgments.

According to the California Association of Realtors, a deficiency judgment can be filed regarding a hard-money loan if the lender forecloses under a judicial foreclosure versus a trustee sale, or if the second loan is a hard money loan and the sales takes place as a trustee’s sale.

You can ask your Murrieta short sale agent about these if it is too technical or hard to understand.

It’s easier to apply for a loan after a short sale than a foreclosure

Loan applications do not require you to include information about your Murrieta short sale. You can simply report your home as “sold.”

However, you will be required to answer the question “Have you ever had a property foreclosed upon or given a deed-in-lieu thereof in the past seven years. Your loan may be denied if the lender sees you have had a foreclosure in the past seven years.

Going through a financial hardship does not mean you have no choice but to foreclose your home. You can call a Murrieta short sale expert and ask about how to go about the short sale process so you can save yourself from the hassle of a foreclosure or visit for more information about doing short sales.

Call me, Sidney Kutchuk, now at 951-217-6745, to get expert advice on Murrieta short sales. With my years of experience with successful short sales, I can guide you smoothly through the short sale process and help you avoid the pitfalls and stress that most sellers go through during the short sales process.

In case you can not view this video here, please click the link below to view Benefits of a Murrieta Short Sale over a Foreclosure  on my YouTube channel:

Do You Really Need a Temecula Short Sale Expert to Sell Your Home?

Selling your short sale without added stress!

As the last step before a foreclosure, short sales can become an anxiety-inducing event in a person’s life. Just imagine how much time and money was spent on purchasing that dream home – only to end up having it listed under Temecula short sales.

Simply put, a short sale is when the seller needs to unload a real estate property for a price that’s lower than the amount needed to cover the mortgage.

It’s the last step before a foreclosure and while it’s not an ideal situation to be in, it’s definitely smarter than declaring bankruptcy.

Homeowners resort to short sales due to various personal financial difficulties. But no matter what type of situation your credit is in, you can definitely score an excellent deal on a short sale – you just need to know more about the entire short sale home-selling process.


What are the advantages of a short sale?

For buyers, purchasing a property on short sale is a great way to get your dream home at a much lower price. Sure, the entire home buying process takes way longer in comparison to buying a Temecula home for sale, but the price is definitely worth the longer wait time.

For sellers, short sales help protect your credit, prevent a foreclosure, save money on closing costs, and allow you and your family to stay on the property until the sale is completed.

Put my years of experience to work – here’s why you need my help as a Temecula short sale expert:

You will learn more about the entire short sale process.

As an experienced agent in short sales, I can help you get familiarized with all the industry jargon and other technicalities that you won’t be able to find anywhere online.

I can help make things simpler for you and your family to understand clearly the steps a seller of a short sale property undertakes.

You don’t have to spend all time in meeting potential buyers.

One of the tasks of a short sale agent is to meet with the possible buyers and their respective agents. Spend more time with your family by having someone else help you take care of the open houses and talking to buyers.

Your real estate agent will go to meetings with lenders with you.

It’s definitely not an easy task meeting with bank people who speak a different kind of industry jargon than you. Having a licensed California real estate agent who’s also an expert in Temecula short sales can help ease up any possibly stressful meetings.

Enjoy a worry-free short sale process.

We will be more than willing to handle all the selling stress for you. We have years of experience under our belts. It’s our responsibility to ensure that our clients are free of any unnecessary stress when selling a home.

If you need help in selling or buying Temecula short sale properties and don’t know where to start, go to:

Call me, Sidney Kutchuk, at 951-217-6745 to schedule a confidential interview to go over your specific situation and to see if you qualify to sell your Temecula property as a short sale. We hold your information in strict confidentiality.

In case you can not view this video here, please click the link below to view Do You Really Need a Temecula Short Sale Expert to Sell Your Home? on my YouTube channel:

Expert Selling Tips from a Temecula Short Sale Agent

Should you short sale your home?

Most sellers can easily get confused with short sales. What exactly is it and will you get any benefits from it? Let’s break it down.

If you’re putting your home up for sale and it doesn’t get a high enough offer to cover your mortgage, but you need to unload that property so you take that low offer. Simply put, a short sale is when you end up “short” on paying back your mortgage and your bank agrees to accept an amount that’s less than what you owe on your loan.


Most of the time, homeowners are pushed into short sales due to personal financial difficulties which makes it impossible for them to pay their monthly mortgage.

It’s hardly an ideal situation to be in, but it is definitely smarter than allowing yourself to declare bankruptcy or foreclosure on your property.

What are the benefits of a Temecula short sale?

  • Short sales allow you to stay in the property until the completion of the sale. Foreclosures, on the other hand, force you and your family to evacuate the premises immediately.
  • Short sales do less damage to your credit report than foreclosures. In a few years’ time, you might even be able to apply for a mortgage and purchase a new home for sale.
  • You will not incur any closing costs in a short sale. The bank will foot the entire bill once the sale is closed.

As a Temecula short sale expert, here’s where I can help you. Put my years of experience to work for you!

Here are the top 3 tips to secure a successful short sale:

  1. Understand the potential consequences of a short sale.

Some home sellers are so eager to let go of the property that they don’t think about what happens after they close the sale. Laws vary by state, but there are a lot of states that allow lenders to go after the balance that is left on the loan after the sale.

While lenders are not obliged to approve Home Affordable Foreclosure Alternatives (HAFA) short sales, this is one way to avoid a deficiency judgment. Through this HAFA federal program, lenders release the borrower from any potential deficiency judgment.

  1. Apart from working with a trusted REALTOR®, you also need to talk to a real estate lawyer.

A short sale is time-consuming. It can take months to close. While I can help you with the entire selling process, as a real estate expert, I suggest that you discuss legal matters such as the potential tax implications, protecting your other assets in the future, and more with a trusted lawyer.

  1. Keep up with you Homeowner’s Association dues.

You do not want your property to look like a foreclosure. As such, it is important for your home to be properly maintained, if you would be putting this up on short sale.

Don’t stop paying your homeowner’s association dues or condo dues. You don’t want this to hinder the buyer from purchasing the property just because of the unpaid dues he or she has to shoulder after the sale, do you?

If you need help in selling or buying Temecula short sale properties and don’t know where to start, simply visit

Call me, Sidney Kutchuk, at 951-217-6745 so we can schedule an appointment today!