Sidney Kutchuk

Yes I am going to answer some questions that most Temecula Short Sale clients ask me.

Many of you are worried about the money trail. Don't keep worrying! A Short Sale Can be
the start of your recovery from getting out from under a huge mortgage.

You don't have to worry what it's going to cost.
There is no fee from me to handle your Short Sale. Yes its FREE!!
When I get your approval, I get paid by your lender.

Will your lender go after you for the shortage?
Not if your loan is the original 1st loan on the house.

What if I have a 2nd loan on the house?
You're not protected by law like you are on the 1st loan. I will get the 2nd lender to release their lien
on your home to allow the Short Sale to be completed. They will work with you on the balance owed.

How long does it take to complete a Short Sale? Each lender is different, but on an average I am getting
them completed in 90 days once I have an offer accepted on your home.

Please call or email me with your questions for straight answers on your housing issues. I will help!!
My direct cell # is 951.217-6745 and I am available to you after hours if needed till 9:00PM

News Flash

The bill passed the U.S. Senate late yesterday and now will go to President Obama for his signature, where it is expected to be signed this week.

The tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to receive a tax credit of up to $8,000, while existing homeowners will receive a credit of up to $6,500. Existing homeowners will be eligible for the $6,500 if they have lived in their current residences for at least five years. The bill also will increase the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000.

Under additional provisions in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The bill maintains the provision that home buyers do not have to repay the credit, provided the home remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order.

For weeks, the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R and its members have urged

Congress and the U.S. Senate to extend and expand this crucial piece of legislation

If your not a buyer in this market and have a home you need sold.
Email or call me about my FREE short sale service.

My TEMECULA SHORT SALES take to long and here why...

I received this email today....
New Short Sale & Buyer financing is now available!!!
Get your short sale sellers into another home and double end your short sale listings!

Example: The Garcias bought their condo in 2005 for $400,000 with 5% down. It's now worth $200,000+, but they still owe $390,000. We negotiated the short sale for $225,000. During the short sale process we got them approved for a new maximum loan of $376,000. Upon closing their short sale home, they closed on their new nicer, bigger home for $375,000 and didn't have to move into a rental apartment for years.

The banks are so overrun with fraud like this that we have to suffer and jump thru many hoops.
This is a Major reason that our honest deals can take over 100 DAYS for approval.

My next Temecula Short Sale may be all over by tomorrow!

This home has a sale date set for tomorrow.
I have been asking for this listing for over a month and the owner
finally calls me today at 5:30PM asking me can I list her home via the SHORT SALE?

She been trying to modify her loan and was denied.

I know this would be a long shot

Well I told her I would give it my best and got her lender in the phone via a 3 way call.
Yes this is at 5:30PM while I am doing a walk thru with another client and YES the bank answered
the phone. The seller gave the bank permission to let me talk and I got them to give me till tomorrow
to fax them an offer and then maybe they will not take it to sale. That's all I needed to hear from them.
Like a mad man I finished the walk thru,rushed home, entered the home on the MLS, CraigsList & my website www.RealtyWrks.com

Ran out to the home took photos, put up a sign and emailed all needed forms to the seller.

Back home I took a pause to eat and wait for offers while watching America's Got Talent on TV.

Lucky for me this home is in a very sought-after area and I priced it like the Repos.
It's now 10:00 PM and my inbox already is getting agents asking for details and I have had
two sign calls. I am positive I will have offers tomorrow and just hope the seller comes thru with
the required data I will need to fax the lender.

Tomorrow will tell if I can save another Temecula home....Stay tuned!!!!

Received a Short Sale Approval from Litton Home Loans today
and guess what? The buyer had walked. Surprise,surprise.

Oh no even though I had two back up offers my heart dropped.
I just had the same thing happen last week with two Short Sales
with Bank of America and even with back up offers in hand they made me start all over again. Almost 3 months of work flushed.
I tried to get the team leader to just look at my backup offers. The answer
was no,he wasn't even the team leader any more on this file. I would have to
start all over at phase 1 with all new team at Bank of America. It does not make sense?

Now back to Litton. I lost the buyer,I emailed the negotiator my back up offer and
asked her to please just sub in the new buyer at the same terms and price.I held my breath.
Please please I thought to myself why can't they just change the name.
OK I took a breath clicked the send button and called it a day.I didn't sleep too well that night
thinking about having to start all over again. Why are these buyers always dropping out, why are
the banks making it so hard!

Back at my desk the next day I check my email.
Litton has replied. No drama just a new Short Sale Approval!
The approval same as before only the buyers name had been changed.
Litton also did not reduce my commission.

If only Bank of America could buy a clue from Litton more homes would be saved from foreclosure.

Sidney Kutchuk AKA...Cyber Sid Sidney@RealtyWrks.com

Temecula Short Sale Agent. www.RealtyWrks.com