Help for Homeowners
As I was canvassing the neighborhood last week, I encountered a couple of people who said they were "upside down" in their mortgages, had tried to contact their lenders with no luck, and didn't know what else to do. Here at last is real information with phone numbers, websites, and rules gathered by the California Association of Realtors.
Mortgage Workout Programs for Homeowners
The following information is intended for REALTORS® and homeowners seeking information on existing mortgage workout programs. In general, the loan modification programs on the chart and consumer information sheets (see links below) are intended for primary residences only.
.HOPE For Homeowners (H4H)
.Federal Government Loan Modification Â (Participants include: Fannie Mae, Freddie Mac, Federal Home Loan Banks, Hope Now participants, Department of the Treasury, Federal Housing Administration and the Federal Housing Finance Agency, and Wells Fargo.)
Mortgage loan modifications typically are handled on a case-by-case basis. Homeowners having difficulty meeting their mortgage obligation or interested in finding out more about a loan modification program should start by contacting their lender. Prior to calling a lender or loan servicer, homeowners should have the following information available:
.Income information and documentation
.Most recent mortgage statement
.Letter demonstrating financial hardship
If you want help with this, or if you can't access the website or the links, call or email me and I'll either email or snail mail you the relevant information. NOTE: It is illegal for people to charge you a fee upfront for helping you. I am offering information as a public service only. The fewer foreclosures in our neighborhood, the better the neighborhood will stay.