When the Keep Your
Home California Principle Reduction Program rolled out a couple
of years ago the servicers that participated in the program were required to
contribute at least 50% towards the reduction. Well as most of you know that
changed a while ago so that now those servicers and investors that participate
are no longer required to contribute. So what does this mean to you? Well, if
you meet the minimum guidelines of the program and your servicer & investor
participate in the program you can receive a principle reduction on your loan
of up to $100,000. Guys – that’s huge. Now it’s true not all servicers
participate and there are hoops to jump through including having an income
lower than 120% of the Adjusted Housing costs (AHC) for your county – in West
Sacramento that’s just under $92,000 for a family of four, the property must be
owner occupied, the loan must be delinquent or at risk of eminent default and
your current monthly mortgage must be more than 31% of your gross monthly
income to name a few, but if you do qualify and stay a minimum of five years,
you don’t have to pay the money back! Up to $100 Grand – that’s some serious
money. Hey, give me a call and we can discuss your particular situation and see
if your lender participates. Who knows, a West Sacramento Short Sale might be a better
option.
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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