The good folks at NACA –
the Neighborhood Assistance Corporation of America have scheduled a number of
American Dream Tour events throughout California in the coming months. What is
NACA and what is the American Dream Tour you ask?
NACA has the unique ability
to offer assistance to distressed homeowners in need of a loan modification
many times right on the spot. NACA has representatives from most of the major
lenders on hand to assist in making loan modification and occasional principle
reduction decisions many times on the same day.
The event is free of
charge and for those who qualify the wait is worth it. Do keep in mind these
are usually loan modifications and you do have to qualify. I say this because
those of you who follow me know I am pretty blunt and straightforward. This is
not the “Loan Mod / Principle Reduction Miracle Tour”. If you are unemployed
and cannot make a payment you will not get a loan mod. Unless your loan is a
specific portfolio loan, which only about 1% are, you will not get a principle
reduction.
The best you can expect
from a loan mod is to have your payment including principle interest taxes and
insurance reduced to 31% of you gross household income. If that requires a
principle reduction it is not likely to happen. If you currently have an
interest only loan, chances are good your payment will stay the same or even go
up.
Now, if you do qualify
this is an awesome opportunity to cut through all the red tape and get the loan
mod you are looking for.
The California events are
8 AM to 8PM and are scheduled for Oct 11-15 in Fresno, October 18-22 in Sacramento,
October 25-29 in Ontario and November 1-5 in San Jose. To register or for more
information go to www.NACA.com.
If you find out a loan mod is not right for you call me and I can help you with
your other 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 or for
the latest West Sacramento short sale information. Call me
today and sleep better tonight; you’ll be glad you did
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