C.A.R. has created several new resources for REALTORS® and homeowners seeking information on existing mortgage workout programs. To provide members with one easy-to-use document, we’ve developed a chart outlining programs offered by the larger lenders and government entities, including a snapshot on eligibility requirements and contact information. If a lender or loan servicer is not on the chart, homeowners may wish to contact their lender or loan servicer to determine if a workout program is available.We have also developed consumer information sheets containing detailed information on specific programs that you can print or e-mail to share with clients. Please click on the appropriate link below for information on a specific program.HOPE For Homeowners (H4H) Countrywide Financial (Bank of America) Citigroup, CitiMortgage JP Morgan Chase & Co. IndyMac Federal Bank, FDICFederal Government Loan Modification (Participants include: Fannie Mae, Freddie Mac, Federal Home Loan Banks, Hope Now participants, U.S. Dept. of the Treasury, Federal Housing Administration and the Federal Housing Finance Agency, and Wells Fargo.)In general, the loan modification programs on the chart and consumer information sheets are intended for primary residences only.It’s important to stress to clients that mortgage loan modifications typically are handled on a case-by-case basis. Prior to calling a lender or loan servicer, homeowners should have the following information available:. Loan number. Income information and documentation. Most recent mortgage statement. Bank statements. Letter demonstrating financial hardship
CASH for Appliances— Coming Your Way SOON!! By the end of 2009, consumers nationwide will be able to take advantage of a federal "cash for appliances" program offering rebates on purchases of a wide array of home appliances certified as energyefficient by the EPA's Energy Star program. Backed by an initial $300 million in funding from the American Recovery and Reinvestment Act, the state-run rebate program is intended to help make American homes more energy-efficient while further stimulating the economy. Who Will Run the Program? Each state will administer its own cash for appliances program. The states will be free to select which residential Energy Star qualified appliances to include in their programs and the individual rebate amount offered for each appliance. What Can You Buy? The Department of Energy (DOE) has recommended that the states focus their cash for appliances rebate efforts on heating and cooling equipment, appliances, and water heaters as these products ...
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