Brad Garbutt

REALTOR®, Associate Broker

Since 1983, I have helped thousands of families and individuals buy and sell homes in Redding/Shasta County. The only thing that exceeds my experience is my commitment to you because whether you're buying or selling a home, your satisfaction is my number one goal. My commitment to you includes implementing the latest real estate technology and resources to effectively market and sell your property. When you're ready to buy or sell a home and you want exceptional service, call me!

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FEDS UNVEIL NEW FORECLOSURE MITIGATION PROGRAM

FHA LOANS, HOME LOANS, SHASTA COUNTY, TIPS FOR BUYERS
November 15th, 2008

The Federal Housing Finance Agency announced this week a new program to assist certain homeowners in refinancing out of unaffordable home loans. The program targets homes that can be prevented from being lost to foreclosure. The goal is to have a program major lenders and loan servicers will be willing to utilize.

Fannie Mae, Freddie Mac, Federal Home Loan Banks, HOPE NOW participants, FHA, the U.S. Dept. of the Treasury, Wells Fargo and the Federal Housing Finance Agency are participants. To be eligible, borrowers must meet the following criteria:

  1. Missed 3 or more payments
  2. Own and occupy the home as their primary residence
  3. Have NOT filed for bankruptcy
  4. Have their modified mortgage payment, including association dues, if any, not exceed 38% of their gross income

The program has a target implementation date of December 15. Homeowners in trouble should contact their lender to determine if they are participating in the program and to determine your eligibility.

www.bradgarbutt.com

www.movetoredding.com

bradgreps@yahoo.com

530-224-6767 or 530-941-7492

BRAD GARBUTT

REALTOR/BROKER ASSOCIATE

REAL ESTATE PROFESSIONALS GMAC

QUARTER CENTURY LOCAL REAL ESTATE EXPERIENCE

This entry was posted on Saturday, November 15th, 2008 at 1:29 pm and is filed under FHA LOANS, HOME LOANS, SHASTA COUNTY, TIPS FOR BUYERS. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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