California had the largest total number of foreclosures in the country in 2009, with over 600,000! RealtyTrac reported that there were over 6,100 foreclosures in San Diego County in December alone! Fortunately, loan modifications are becoming more prevalent and regulated. HomeStart is accredited by the BBB and provides loan modification services to the many who qualify.
Now more than ever, lenders are willing to renegotiate the loan terms. Not only do lenders save more money by modifying a loan than foreclosing on a property, but President Obama’s new Homeowner and Stability Plan (HASP) further incentivizes lenders to offer loan modifications. These loan modifications entail permanent adjustments to the loan terms that can allow homeowners to maintain their mortgage payments and keep their homes. HomeStart will determine if you qualify for a loan modification and get the process started with no upfront fees.
Why choose HomeStart?
In addition to having an A+ grade from the BBB, HomeStart is licensed by the California Department of Real Estate (DRE). The DRE established certain policies for its members regarding the capability of performing home loan modifications. The DRE thoroughly assesses a firm before allowing it to become a member, which demonstrates the legitimacy of HomeStart.
Here is an example of a recent loan modification performed by HomeStart:
Property in California
Total monthly savings of $1,132.38/month
- Primary Residence:
Loan amount of $298,819 with an interest rate of 5.875% and monthly mortgage payments of $2,445.30.
- Modified to:
Interest Rate of 3.875% and new monthly mortgage payments of $1,312.92 fixed for 5 years; final interest rate of 5.375% and $1,481.94 monthly payments.
For more information please visit www.YourHomestart.com