The States Settlement with the 5 Largest Lenders in West Sacramento

Today I wanted to talk about the recent settlement between the 5 largest lenders and the States Attorney Generals. 

  

When this whole story broke it really sounded like homeowners were finally going to get a break. The promise of serious principle reductions and loan modifications is not looking so promising the more we peel back the onion so to say. With right around 11 million homeowners underwater and upside down in their mortgage, the program that what was once thought to help up to a million homeowners now looks like it really will be only able to help about 500,000. Now a half million is a big number but not when you consider that is less than 5% of those who need help. The other 95% are right back where they started – owing more on their home than what it is worth with payment twice what rent would be on the same property. To make matters worse, Fannie Mae and Freddie Mac the government backed GSE’s own nearly 60% of the mortgages and they are not participating in the program. Guys, Don’t pin your hopes on the government bailing you out – like most government programs this one is long on promise and short on results. If you owe more than your home is worth, possibly facing foreclosure or you just owe more than you home is worth and you are tired of paying on something you will never owe, call me for a free no obligation consultation. I’ll give you all your options.

To get a better idea of when your West Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation. Call me today and sleep better tonight; you’ll be glad you did