Redding CA ~ Short Sales ~ Housing Stimulus Plan ~ Check With Your Bank!

If you are behind in your payments and cannot bring the loan current, you may be in the process of a short sale or considering a short sale. At this point, it is important for you to check with your bank and see if you have options. Wacovia is contacting those clients that may have the income to do a workout. The critical factor is that you must prove the income to sustain the loan.

They have several options to extend to you that include forgiving the overdue balance and adjusting the loan value by 20%. Another option that is being offered is a 40 year loan with interest only payments for 10 years.

The critical factor here is that you must have the income to justify the new loan amount and options. If you have had a hardship and do not have the income to sustain the loan, then your choice to do a short sale may be your best option. You should check with your tax adviser or attorney as to your best course of action if you cannot make your payments.

I am Jeanean Gendron, your Redding and Shasta County Specialist. I specialize in helping clients with loan modifications and short sales. To date I have a 100% approval rating on my short sales. If you would like to learn more about how to contact your bank and find out if you can qualify to keep you home, I will be glad to help you. Visit our website and blog on short sales and learn about your options. The above scenario is based on Wacovia and their Mortgage Assistance Plan.