Temecula Short Sale Agents – Help Line 951-217-6745
Short Sale Archives
Temecula Short Sale Specialist
Temecula Short Sale Agents Posts
Temecula Homes for Sale – Search
What is a Short Sale?
A Short Sale, also called “Short Pay” is a process through which your lender agrees to settle your loan for less than what is owed to them. They do this as an alternative to the expensive and time consuming process of foreclosure. Each lender has their own process through which they decide whether or not to accept a short sale, and while there are many similarities, each has its own requirements for approval. As a third party mediator, we have a distinct advantage in negotiating with your lender. Short Sales are a way for Temecula homeowners to avoid foreclosure on their homes and still be able to show the mortgage as paid on your credit report. If your lender has told you a short sale is an option for you,call me your Temecula Short sale Expert.
$10,000.00 x 3 for my Temecula short sale clients | 951-217-6745
This month has been a good month for my Temecula short sale clients and tenants. I have been able to get 3 short sales approved via the Federal HAFA short sale program. That means at the closing I will be able to present $10,000.00 to each of them. In one of the properties the current tenant is getting the check. The check comes from the U.S Treasury as relocation assistance to the sellers or tenants,who ever is living at the property.
Short sales are still a 90 day battle to get approved,but still the short sale is one of the best options available when facing a foreclosure. The short sale offers you control in a situation where you can no longer afford to stay in your home and you’re unable to sell it because you owe more than it’s worth.
Now in late 2015 short sales are no longer the norm, if fact short sales now account for less than 15% of the home sales here in the Temecula and Murrieta area. This has been the trend in most all states. Equity is returning to most areas and the short sale market is fading fast. Most major lender have laid or transferred their short sale staff to other departments. This has made getting short sales even harder and sometimes longer to get too approval.
If you find yourself or know someone needing a Temecula short sale specialist give us a call at Realty Works 951-217-6745. There is never any out of pockets costs to our clients needing our short sale services. We will check with your lender to see if you’re eligible for the $10,000.00 HAFA relocation incentive.
This time the number one cause is unaffordability. Many homeowners that
were given a loan mod 5 to 10 years ago are now getting letters from their lenders
with major price adjustments to their house payments.
These price hikes are large and are now forcing homeowners to default on their payments and seek help from their lenders for a second or third time. This time most homeowners are finding that the lenders are no longer willing or able to help. So they must sell or face a foreclosure. While the option to sell maybe your best solution many homeowners find that their homes value still have not increased enough to repay the mortgage if sold today at current market value.
This is why in 2015 we are now seeing the come back of another option the short sale. Just when it was looking like short sale were going to be a thing of the past. Mortgage resets are causing a come back of the short sale process here in 2015.
A short sale is a solution to avoid foreclosure. A short sale will allow you to market and sell your home even thought you owe more the the current market value. You will net ZERO Dollars,but you avoid foreclosure and can remain in the home during the process which is taking 3 to 4 months to complete.
Here in California at the end of a short sale you are released of the mortgage in full and the lender can not come back after you for any deficiency. Plus you are NOT allowed to pay any costs of the short sale including agents commission.
2015 HAFA Short Sale Update | 951-217-6745 | Realty Works Temecula
2015 HAFA Short Sale Update.
Starting Feb 1st 2015 short sales being processed via the HAFA program will allow the seller to walk away with $10,000 at the close of escrow. This $10,000 is for the seller to use for relocation costs. Prior to this change relocation assistance was caped at $3,000.00
Also, current HAFA guidelines state that first lien holders will also provide $8500 from sale proceeds to junior lien. This has now been changed to $12,000.
If your thinking the Temecula or Murrieta area is going to be were you want to call home, check out Harvestion Lake. This is the development I chose to call home. Let me share some of the things I enjoy living here in Harvestion. First you will find people of all ages living and enjoying Harvestion Lake. From young families to senior citizens.
My son Adam and his family also picked Harvestion Lake as the place to raise their family.There are many great schools,day care,parks and pools for them to enjoy. Below is a picture of Adam and my grandson Cody who caught his first fish here at the lake. No fishing permit is needed. The lake is stocked with fish and the rules are catch and release. No keeping the fish.
One of the focal points here at Harveston Lake is the Lake House. This beautiful building is over 8,000 square foot and can be booked for weddings and parties. Walking around the lake at night is an extra treat as the area is all lit up along with the many trails and buildings.
Next to the lake house there is a large pool and spa.There is also for the young kids to enjoy a water fun park.
They are still building new home here in Harvestion and the resale market is very strong. We have small homes and town homes,senior living areas, to large 3,000 + square foot homes. Most lots are small in size but there are many common areas to enjoy including one of Temecula largest sport parks were you can see the families enjoying the large grassy area or the kids playing baseball and soccer. This is a great area to fly kites as we have a nice breeze come through most every day. The air qualty is great. There is just to many great things about this area to put in this post,but guess what? I am a Realtor and would be happy to show you around Harveston Lake,that is unless Iam on my scooter riding around the lake.
A Chapter 7 bankruptcy may relieve you of paying back the promissory note or mortgage on your home but it does not remove the lien. This means that after the bankruptcy is complete the lender still needs to foreclose in order to take back the collateral.
So you may end up with both a foreclosure and a bankruptcy.
Maybe, just maybe, a Temecula Short Sale would have avoided both. Contact a Temecula Short Sale Specialist to see how we can help.
Why are Temecula Short Sales confusing.
Maybe because of the many types of short sales that lenders have created.
Sidney Kutchuk broker at Realty Works Temecula attempts to explain the
short sale process here in this YouTube video.
If your Temecula Short Sale has Fannie Mae as the investor here’s some good short sale news.
Fannie Mae is asking you to submit your short sale offer to it at the same time that you submit it to your lender that’s servicing the mortgage. By submitting your offer via the Fannie Mae web site and your lender simultaneously you enable Fannie Mae to start taking some of the steps needed to get the short sale application processed. These steps include ordering an appraisal and broker price opinion and reaching out to the servicer to help keep the processing on track.
Avoid foreclosure and consult a Temecula Short Sale Specialist at Realty Works Temecula 951-217-6745
Contact us today for more information about the Temecula short sale process.
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.
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?
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