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Bank of America short sale incentives and programs.

Published May 28, 2012 in Temecula Short Sale - 0 Comments

If your thinking about doing a short sale and your mortgage is with Bank of America there is a short sale program for you.

Bank of America is offering its customers up to $30,000.00 to short sale thier home.
Below is a list of some of the short sale programs offered.

  • HAFA Short Sale – Bank of America and the US Treasury work together with you to offer this solution to foreclosure. HAFA is a good program if you have a second loan on your property as they will offer the second lender up to $8,500.00 to release the lien and you will also receive a check at the close of escrow for $3,000.00 in relocation assistance.


Program at a glance

  1. Call icon

    Step 1: Call us to request a HAFA short sale and update us on your current financial situation. We’ll review your information and check your eligibility for a Home Affordable Modification or any other home retention program that would enable you to stay in your home.

  2. Approval icon

    Step 2: If you don’t qualify for a modification and want to sell your home, we’ll work to gain approval of your first mortgage HAFA short sale request. If you have a second mortgage with another lender, you will have to ask them for approval.

  3. Market icon

    Step 3: You will be given time to market and sell your home — typically 120 calendar days. You are required to work with a licensed real estate professional.

  4. Offer icon

    Step 4: Once you receive an offer, you have 3 calendar days to submit a Request for Approval of a Short Sale document as well as the offer letter. We’ll get back to you with a decision on the offer within 10 business days.

Closing icon

Step 5: If the offer is accepted, your house is sold and your mortgageand any other loans against the home are settled from the proceeds of the sale

Cooperative Short Sale – 
Basically, the goal of this new cooperative short sale program is to cut down on the response time. In order to make this goal a reality, now it will be possible to initiate a short sale even before you have an offer on your property.

Bank of America Cash Incentive Program.
This is the newest short sale program were BOA will pay from $2,500.00 to $30,000.00 to a homeowner to do a Short Sale.

 Call me for more details on all the Bank of America Short Sale Incentives.
Sidney Kutchuk,Temecula Short Sale Specialist – 951-215-6745 



HAFA 2012 update link

Published May 28, 2012 in Temecula Short Sale - 0 Comments

HAFA Short Sale Update – 2012 



HAFA This Supplemental Directive amends HAFA policy as follows and allows servicers to implement such changes immediately: 

There are no longer any occupancy requirements for HAFA eligibility;

 Section 7.4, Chapter IV of the Handbook which states that the amount of the monthly mortgage payment during the term of the SSA, Alternative RASS or DIL Agreement must not exceed the equivalent of 31 percent of the borrower’s monthly gross income is amended to allow a servicer to accept a full payment, if the borrower requests to make a full contractual payment in order to stay current on the loan

 Section, Chapter IV of the Handbook is amended to increase from $6,000 to $8,500 the amount a servicer may authorize the settlement agent to pay from gross proceeds to subordinate mortgage holder(s) in exchange for a lien release and full release of borrower liability.

  Borrower relocation incentives will be limited to HAFA short sale or DIL transactions where the property is occupied by a borrower or a tenant at the time the SSA, Alternative RASS or DIL Agreement is executed and who will be required to vacate the property as a result of the short sale or DIL. Servicers must determine if a property subject to a HAFA transaction is occupied by a borrower or tenant who will be required to vacate and may only authorize relocation incentives for such occupants. Servicers must ensure that the HUD-1 reflects a payment to the borrower or tenant, when appropriate.

Supplemental Directive 12-02 Page 19  The requirements in Section 11.2, Chapter IV of the Handbook related to credit bureau reporting of HAFA transactions are amended as follows:  If the real estate is sold for less than the full balance owed and the deficiency balance is forgiven, report the following Base Segment fields as specified: Account Status Code = 13 (Paid or closed account/zero balance) or 65 (Account paid in full/a foreclosure was started), as applicable.

Bank of America Short Sale Relocation Assistance Program

Published May 17, 2012 in Temecula Short Sale - 0 Comments

Received this email today from Bank of America

They are offering up to $30,000.00 in extra incentives for a limited time.
If you thinking of Short Selling your home call me at 951-215-6745 or you can email me at Expert@aShortSale.com

Exclusively for: | SIDNEY KUTCHUK

Bank of America Home LoansShort Sale Customer Care




Short Sale Agent Update
Limited Time Offer
May 15, 2012

Short Sale Relocation Assistance Program: 
Your clients could receive 
$2,500 to $30,000 in relocation assistance

Your financially distressed clients want to avoid foreclosure. You want to help them. So do we!
That’s why Bank of America is excited to announce that for a limited time, we are offering enhanced relocation assistance payments in which qualified homeowners who initiate a short sale without an offer could be eligible to receive $2,500 – $30,000* in relocation assistance and owe no more on their mortgage with the sale of their property. 
Don’t miss this limited-time offer to get your distressed clients the help they need by initiating a preapproved price short sale today at agent.equator.com.  
Determining your clients’ eligibility is easy:

Temecula CA Short Sale Agents | Videos

Published May 12, 2012 in Temecula Short Sale - 0 Comments

Temecula CA Short Sale Agents | Videos


 By Sidney Kutchuk a Temecula Short Sale Specialist.

I have created some short and to the point videos on the Short Sale Process.
These short sale videos are all about short sales and are less than 2 minuties each. 


Short Sales in Temecula Ca are not Easy.

Published May 12, 2012 in Temecula Short Sale - 0 Comments

Short Sales in Temecula CA – Not Easy

Have you seen some agents pitch Temecula Short Sales as an easy way out of your mortgage?
Well a short sale is an option for many homeowners but seldom is it easy,it’s a process.

I am a short sale specialist and after 17 years of doing short sales I can make your short sale seem easy.I work with all the major lenders and know what it takes to get you a short sale approved. Plus I get you through the entire short sale process with no drama just results. You will need to provide me with some personal information which I will review and package into a proven short sale package that your lender will review for approval. I have found that most of the processors at the major banks want to approve your short sale, but can’t if your short sale is not packaged correctly. Many agents lack the knowledge  and experience on how to package a short sale for success.

So while short sales are not easy, they may be your best option to avoid a foreclose or even a strategic way out of a bad mortgage.There are no out-of-pocket costs to you when you choose to do a short sale.So why not have the best Temecula short sale agent working for you.

If you think it’s expensive to hire a professional,wait until you hire an amateur!

About Sidney Kutchuk

Sidney Kutchuk is the Broker at Realty Works Temecula. As a Temecula Short Sale Specialist Sidney Kutchuk is helping Temecula CA homeowners avoid Foreclosure.951-215-6745


Temecula Short Sale denied

Published May 10, 2012 in Temecula Short Sale - 0 Comments

Temecula Short Sale denied.

by Sidney Kutchuk

I have been able to stop many bank foreclosures, even when they are just days away from the sale date. But this homeowner got to close to edge.

Today a Temecula homeowner lost his home to foreclosure. He contacted me last week asking about the Short Sale Process and told me a sale date had been set for the following week. The bank was set to foreclose in four days. This homeowner has done everything to stall the banks,a loan mod,a bankruptcy,a second loan modification and now he wanted to do a short sale.With only four days left before the sale date I sent him the forms I needed to stop the bank sale. The only form I need back ASAP was a 3rd party authorization. This from signed by the seller allow me to contact a lender and ask that the sale date be postponed.This would allow me time to process and start  aTemecula short sale.   This seller had been able to push back the sale date 3 times before. He did not take me seriously when I told him to get me the form that day. All it needed was his signature,loan number and social security number. He waited two days to get it back to me. Once I received it  I was able to contact the bank and ask for the sale to be stopped. It was too late for this Temecula homeowner,the bank went forward and foreclosed. I think they had had enough of his stalling the foreclosure process. The Short Sale was denied.

Don’t wait till the last moment. A short sale is an option to foreclosure. I can help you with no out-of-pocket costs. This is what I do and I do it well. Call or email me I have provided the links below. Sidney Kutchuk  – Expert@aShortSale.com   951-215-6745.

Murrieta Short Sale Specialist | 951-215-6745

Published May 9, 2012 in Temecula Short Sale - 0 Comments

By Sidney Kutchuk – Certified Murrieta Short Sale Agent.

Murrieta Short Sale Specialist

HAFA Certified Short Sale Specialist

A short sale is a type of real estate transaction were you need to be sure you have the best Murrieta Short Sale Agent on your side.
WHY? Because a short sale is a pre-foreclosure sale and you risk loosing your home to foreclosure if the sale is not handled correctly.
Time is of the essence with all real estate transactions, but with a short sale it is even more important to keep tract of the many moving parts that are part of the short sale process.

Realty Works has a proven tract record helping local Murrieta homeowners with NO “Out-Of-Pocket-Costs”. Get the facts before you list you Murrieta home. The hardest part of a short sale is not knowing what to do. Lets talk. I can and will advise you of your options. There is no pressure from me,use my 17 years of short sale experience to make your choice. If you decide a short sale is the correct option I will step you through the short sale process and tailor my program to your needs. I have many ways to get to the goal which is an approved short sale.

Email me  Expert@aShortSale.com  or call me  951-215-6745
I am here to help. I am a certified HAFA Murrieta Short Sale Agent. 

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