Santa Clarita Valley Real Estate

Don't Let This Opportunity Slip By! I've talked about this before, but I have now had the opportunity to participate in o ne. I am talking about the Making Home Affordable Program . This program is designed for borrowers who are upside down on their homes, have a higher interest rate than today's low rates or have an adjustable or intermediate ARM that will be adjusting soon. If your loan is owned by Fannie Mae or Freddie Mac, you've had no 30 day lates on your mortgage in the last 12 months, and your 1st mortgage is not greater than 105% of the current appraised value, you most likely will be eligible to par ticipate in this program. It typically doesn't require income or asset documentation if it is owned by Freddie Mac, but does if it is owned by Fannie Mae. The following lin ks will help you or someone you know determine if their loan is owned by Fannie or Freddie: Fannie: http://loanlookup.fanniemae.com/loanlookup/ Freddie: https:

If you are behind in your mortgage payments, you may be contacted by individuals or companies that will offer to help you work out a loan modification with your lender or provide other services to you in order to help you prevent a foreclosure on your home. You must be very careful if you are asked to pay for any of these services in advance, whether in cash, check or by charging your credit card. First, California Civil Code Section 2945, which regulates "foreclosure consultants", forbids anyone who falls under the definition of a “foreclosure consultant”, as well as a real estate licensee, from collecting any advance fees for these types of services if a Notice of Default has been recorded against your property. If your lender has recorded a notice of default, do not pay an advance fee to anyone. There are non-profit agencies that can assist you without charging you a fee and real estate brokers who can represent you for a fee to be paid after they have completed their work

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, FDIC Federal Government Loan Modification (Participants include: Fannie Mae, Freddie Mac, Federal Home Lo