Saving your Santa Clarita Home
Upside down in your home? Don’t give up yet…There’s some good news to homeowner wanting to save their home. The fed is finally making some headway with modifying mortgages that it controls.
“The goal of this policy is to avoid preventable foreclosures on residential mortgage assets that are held, owned or controlled by a Federal Reserve Bank,” Bernanke said in the letter. “In addition, the Board has decided to apply this policy more widely. In particular, the board has determined to apply the policy to the residential mortgage assets that serve as collateral for the discount window loans extended by the Federal Reserve.”
The Federal Reserve will instruct mortgage servicers who service those mortgages to identify borrowers who may be falling behind on payments and may be eligible for relief. Those borrowers will be contacted perhaps by letter, perhaps by phone. It has not yet been determined how to let them know they may be eligible for mortgage relief.
If you’re 60 days behind or you have an ARM that is about to adjust, you may qualify for
a. Reduction in the interest rate.
b. Extension of the term of the loan
c A deferral or reduction of the outstanding principal balance of the loan; or
d. Changes to other terms of the loan.
If you want to modifiy or get into a fixed rate mortgage personally recommend contacting Rudy Flores at 661-305-7363 or email him at RFlores@PRMG.NET Rudy is hardworking and straight shooter. I can recommend Rudy for several reasons , but mostly because he handled my mortgage and I couldn’t be happier.
Letter from Ben Bernanke to Barney Frank on Home Ownership Preservation:
Link to Document: http://www.scribd.com/doc/11454012/Letter-from-Ben-Bernanke-to-Barney-Frank-on-Home-Ownership-Preservation?from_email_04_friend_send=1
Homeownership Preservation Policy for Residential Mortgage Assets http://www.scribd.com/doc/11453850/Homeownership-Preservation-Policy-for-Residential-Mortgage-Assets?from_email_04_friend_send=1
CR Construction is the leading home inspection company in Santa Clarita, CA. We are seeing a rise in home inpections in the lower price range. It seems in my opion, investors and first time buyers are coming off the sidelines. With homeprices at record lows, deals are outt there. We do home inspections for the best realtor in Valencia. If you need a referral for a great realtor send us an email. For over 14 years, we have been the best handyman service in Santa Clarita Valley. The top 10 Realtors or SCV have used are services for years. If you live in Santa Clarita Valley and need: Certified Home Inspection, Certified Mold Report or Inspection, Going Green, Home Energy Audits, Adding Insulation, Changing to Energy Saving windows, Attic Fans, Whole House fans, Garbage disposals, GFI’s or GFCI’s, Ceiling fans, Granite Countertops, Stucco Repairs, Bathroom Remodels, Patio Covers, General Contracting advise, email us or give us a call.
Carl Reese Construction Santa Clarita, CA
Certified NACHI© Home Inspector • EnergyStar© Partner • Certified Mold Remediation & Testing • Certified Thermographer • Energy Consultant • Licensed General Contractor #B878946
Tags: Adding Insulation, Attic Fans, Bathroom Remodels, Canyon Country, Ceiling fans, Certified Mold Report or Inspection, Changing to Energy Saving windows, Foreclosure, Garbage disposals, General Contracting, GFI's or GFCI's, Going Green, Granite Countertops, Home Energy Audits, Patio Covers, Santa Clarita, Stevenson Ranch, Stucco Repairs, Valencia, Whole House fans
