So much has been in the news lately to scare even the heartiest of souls: major job losses, the housing slump, mortgage foreclosures, retirement account depletion and all sorts of horror stories about the losses we are experiencing in our national and global economy. But there is hope and help out there for homeowners who need some solutions that will help get the financial feet back on solid ground. In looking at the present state of economic woes for Boomers and beyond, I have discovered some companies that have worthy options for struggling—or at the very least—worried, maturing homeowners.
I interviewed David Alexander, a Mortgage Specialist with Loan Processing Center (David’s direct line is 888-473-8323 extension 3). David and his associate, Chelsea Price, are very efficient and knowledgeable about loans. They have a very full-service website, with many helpful areas: downloadable forms, free pre-approval, tools and calculations, free credit reports and a glossary of terms. Spending time with the calculators and glossary is like taking an on-line class! Loan Processing Center teams with a credit union which lends in all 50 states. They often get their clients same day approval, with an average closing of 7-10 business days, which is usually three times faster than many companies. David can get loans if your credit score is 580 and above, with a significant improvement at 600 or higher. David says that the Veterans Administration is making great loans to veterans right now. He is proficient with FHA, VA, reverse mortgages, commercial loans, jumbo loans, and investments property loans in all 50 States, and the Virgin Islands.
Loan Processing Center
David Alexander
888-473-8323 extension 3
www.bestpricelending.com
1353 Old Temescal Rd
Corona, CA 92881
Next is Chris Rivera, Mortgage Specialist with RPM Mortgage (Chris’s direct is 310-303-3418 and email is crivera@rpm-mtg.com). Chris is the branch manager of the Manhattan Beach, CA, RPM office. Chris has over 20 years in the Mortgage business specializing in FHA loans and refinances. He is confident he can help anyone who has even a little equity in their home to wrap into a new, good loan, especially if the credit score is 620 or above. Chris describes FHA (Federal Housing Act) as a generous government program which accepts little or no down payments, with lenient credit standards, and is not the same agency as Freddie Mac or Fannie Mae. Chris says he looks at all angles; even using retirement accounts (before their value drops even lower) to pay off the home to later use as the retirement fund in a reverse mortgage or sale when transitioning to retirement living.
Chris’s three important thoughts on mortgages today:
- Please do something BEFORE you get to the point of no return.
- There are now truly historic interest rates available at 5% or below, so there is “no time like the present” to refinance to a very good loan.
- Inflation is a beast, and is set to rear its ugly head in the next 2-4 years. Getting into a good, low rate and locking it in now will help avoid the hardships that inflation brings.
RPM Mortgage
Chris Rivera
310-303-3418
www.rpm-mtg.com
Manhattan Beach, CA
Another strategy in the mature homeowner’s toolkit for solving financial problems might be Consumer Law Firm: attorneys and mortgage specialists working together on loan modifications. I talked with CeCe St. Julien, a mortgage specialist (her direct line is 888-305-2262 and email is cjulien@wespacsolutions.com) and she described the process. Attorneys work with the original lenders to reduce interest rates, and all negotiations are done by attorneys. They have the credentials to stop foreclosures and sales of property. The mortgage specials at Consumer Law Firm’s mortgage division, WesPac Solutions, also offer debt consolidation loans which are separate from the loan modification. CeCe explained that the total cost is $3,500 up front (plus $500 for a second mortgage). She said that if client doesn’t get the loan they feel entitled to a refund is available up to 50%. UPDATE: CeCe just contacted me with exciting news! They have had such a positive response that they are able to offer you a 100% refund if you don’t feel you get the right loan! They are 100% confident you will. This may not last so make sure to call about this offer ASAP if it fits your situation.
Consumer Law Firm
CeCe St. Julien
888-305-2262
www.consumerlawfirm.com
23022 La Cadena Ste.205
Lake Forest, CA 92619
…and tell them Di Patterson sent you for preferred service!
New York City sale! Fly roundtrip from $101+ – Expires 3/5/09
Here is a short list of some federal, state, and local resources:
Hope Alliance
A federally-funded Housing Information Service
888-305-2262 (Counsel at No Charge!)
Your Local US Congressperson
www.house.gov
Your U.S. Senator
www.senate.gov
Your local state representatives
www.assembly.ca.gov
(i.e.: CA Assemblyperson)
Your local state CA Senator
www.sen.ca.gov
(i.e.: CA State Senator)
For example: U.S.Congressman Ed Royce (R-Fullerton, La Palma, Buena Park, Westminster, GG, Anaheim) invites his constituents needing help to contact his office liaison, Mike Ahern, in WA, DC: 202-225-4111
The Federal Trade Commission
Consumer Credit Protection information
www.ftc.gov/index.shtml
