Time to Help. The Storm Clouds are Here

Reblogger Brian England
Real Estate Agent with Arizona Focus Realty SA634540000

Raymond Henson, SRES, GRI is a wise man and his clients are lucky to have him in their corner!  The majority of people in the world today could use some help, even if they are still able to work, the work seems to have been limited because so much is halted or paused.

Original content by Raymond Henson, SRES, GRI DRE# 00949880

     The storm clouds are here. A few weeks ago, I would never have imagined that I would be discussing mortgage relief.  Everybody seems to be affected by the COVID 19 virus is some way or another.  Many are sick, laid off or have reduced hours and are facing some difficult decisions. I am concerned because during the Great Recession so many did not communicate with their banks and/or loan servicing companies due to fear and worry. 

House with Stethoscope

  If you are having difficulties, please call your loan servicing company or your bank.  My client called his servicer and was told that he qualified for a forbearance agreement.  He can forgo his payment for up to three months on his home loan without any penalties.  He was also told that it will not affect his credit score.  His interest will still accrue and be added to the loan balance and he will have to resume making his regular payments at the end of 90 days.  Each servicer will probably have different plans depending on the investor they service.  Most loans are owned by Fannie Mae and Freddie Mac.  Here are links for more information regarding Fannie Mae and Freddie Mac loans.

Fannie Mae Loans

Freddie Mac Loans

     HUD has also halted all new foreclosures and suspended ongoing foreclosures for 60 days.  For tenants, HUD has suspended all evictions on FHA insured single family homes.

     Just today, we received a letter from our local credit union, Golden One.  This is what they are planning to do.  They will waive all late fees.  They will allow loan deferrals of up to three months on credit card debt, auto loans and home loans.  They have also arranged for emergency loans of up to $5,000 for their members.  Please ask lots of questions for details of each program.

     If you have been impacted by our current situation with the COVID 19 virus and need help, call your servicer or your bank.  If you are a tenant, call your landlord or property manager.  I have advised family members to do the same.  You all should get some kind of help.  

     On a more personal level, my property manager sent out a letter today.  He mentioned several times that he is unsure what to do since he has never faced anything of this magnitude.  He had a lot of ideas and was asking for our input for even better solutions.  Good tenants may not be able to pay their full rent.  Property owners still have to make repairs to air conditioning, heating, plumbing, roofs, health and safety issues, etc. All need to be done in a timely manner.  I feel for the repairmen that go from home to home, apartment to apartment, building to building exposing themselves and their families, to make all the repairs.   We are all being impacted in some way, but most people want to help.  Great communication is the key.  I have already contacted my tenants and offered help.  I think others will do the same.

   My real estate career began during the Great Recession and I learned very quickly that if you ignore an issue the issue gets worse.    If you communicate quickly and courteously, a lot can be done.  I am very impressed that our government, banks, lenders, landlords and so many everyday Americans are coming together so quickly to help.  This is a true Act of God that needs to be treated with understanding and empathy.  The storm clouds are no longer on the horizon.  There is no one to blame.  Let's try to help one another and, with God's help, we can get through this natural disaster.

             eXp Realty of California, Inc

Raymond Henson, SRES, GRI, e-Pro

Past Client Testimonials   

3412 Babson Drive

Elk Grove, CA 95758






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Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Everybody is trying in their own ways to help and keep everyone afloat, especially in their local communities.

Mar 25, 2020 01:08 PM #1
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Brian.

I wonder how this effects tenants in rentals?  Any idea?

Mar 26, 2020 12:52 AM #2
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much, Brian, for sharing this reblog selection.

Mar 26, 2020 07:29 AM #3
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Brian,  Great reblog on Raymond blog.  Our state just shut down yesterday but Realtors can still show homes.


Mar 26, 2020 09:08 AM #4
Jane Chaulklin-Schott
TEAMCONNECT REALTY - (407) 394-9766 - Orlando, FL
TeamConnect Luxury Homes - Orlando, Florida, 32836

Brian, Happy Thursday to you, my friend.  This is a very helpful blog of Raymond Henson, SRES, GRI .  You are so right in saying that 'his clients are lucky to have him in their corner' -- very wise and informed gentleman.

Mar 26, 2020 09:52 AM #5
Raymond Henson, SRES, GRI
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA

James Dray   I alluded to renters in my blog.  My property manager and one of my friend's property manager is trying to get their arms around this.  My manager sent me a letter with ideas and asked for our ideas too.  The ideas include postponing rents, landlords accessing small business loans for repairs that have to get done and to cover lost rents.  I personally will forgo rents for a month or two for my clients.  They have been exceptional and, if they are impacted, I want to help.  Our state has stopped all evictions for 60 days.  I really do not know what else there is.  Any ideas would be greatly appreciated.

Brian England, thank you very much for the re-blog.  I appreciate it very much. 

Mar 26, 2020 09:58 AM #6
Raymond Henson, SRES, GRI
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA

Will Hamm, we are trying to get designated with our governor as essential, but are not yet.  Still, if someone wants to see my listing, I will be there.

 Jane Chaulklin-Schott, thank you for the compliment. 

Mar 26, 2020 10:02 AM #7
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Brian England

MBA, GRI, REALTOR® Real Estate in East Valley AZ
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