Unemeployed Borrowers Get Mortgage Relief with Freddi Mac

By
Real Estate Broker/Owner with eHome Real Estate BRE# 00925320

Starting February 1, 2012, Freddie Mac will give unemployed borrowers in Ladera Ranch, CA and other cities nationwide  have the  option to take a yearlong break from mortgage payments. If you lost your job and your loan is with Freddie Mac, note that the extended grace period, or forbearance of payments, operates in two steps. First, borrowers will be allowed to refrain from paying mortgages for six months without Freddie Mac's approval. After six months, Freddie Mac has the option to extend the forbearance for another six months.
 
This year long grace period promises more relief than a former three-month forbearance granted by mortgage servicers. The hope is that the extended grace period will allow families who are facing longer periods of unemployment the chance to resolve their delinquencies. In the past, extended forbearance periods were given to borrowers with extenuating circumstances like ongoing medical emergencies, permanent disabilities, and natural disasters. If you need help to determine if your loan is with Freddie Mac, please don’t hesitate to send me a note and I will check for you.

Thinking about a short sale? I can help you short sale your Ladera Ranch property and get back on your feet. Send me an e-mail at arna@ehomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, call me at (949) 244-0444.

Arna Freedman, a Real Estate Broker at Homes of California, helps buyers and sellers in Ladera Ranch and other Orange County cities.

Phone: (949) 244-0444. arna@ehomes.com.

Experience, Excellence and Service View my homes for sale.

Arna Freedman specializes in loan modification assistance and short sales in Ladera Ranch California.

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