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homeowners: Keeping Your Home in California - 01/18/11 07:10 PM

KEEPING YOUR HOME IN CALIFORNIA
The U.S. Treasury Department has approved CalHFA's plan to use nearly $2 billion in federal funding to help California families struggling to pay their mortgages.
The Keep Your Home California programs are focused on assisting low and moderate income families stay in their homes, when possible, and leveraging additional contributions from mortgage servicers.
Primary objectives for the Keep Your Home California programs include:
Preserving homeownership for low and moderate income homeowners in California by reducing the number of delinquencies and preventing avoidable foreclosures;
Assisting in the stabilization of California communities.
Each of the Keep Your … (1 comments)

homeowners: FHA'S SHORT REFI PROGRAM FOR NEGATIVE EQUITY HOMEOWNERS - 08/17/10 11:33 PM
                                                                                                        
So FHA is boasting about launching it's new short refi program for underwater homeowners.  Woot, woot.  Have you actually LOOKED at their requirements?  It reminds me of the evil stepmother in Cinderella who tells the girl that she can go to the ball "IF" she can get an impossible amount of work done.  In other words, "NOT GOING TO HAPPEN!"
The U.S. Department of Housing and Urban Development (HUD) Mortgagee Letter 2010-23 lists the eligibility requirements for lenders and negative equity homeowners.  The first glaring issue is that the lender participation is "voluntary" and "requires the consent of lenders."  … (6 comments)

homeowners: B of A Principal Reductions - 04/01/10 01:36 AM
B of A Principal Reductions. Bank of America announced plans to begin forgiving mortgage loan principals for homeowners who owe more than 120 percent of their home's value and for homeowners who are experiencing expanding negative amortization loans.
B of A promised to offer such homeowners an earned principal forgiveness of up to 30 percent in two stages. First the lender will offer an interest-free forbearance of principal that homeowners can turn into forgiven principal annually over 5 years, as long as the homeowners stay current on their payments.
The forgiveness program can allow homeowners to bring the loan value back … (2 comments)

 
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Michele Ashbarry

San Diego, CA

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Realty Partners

Address: San Diego, CA

Office Phone: (760) 440-9812

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