If you would like to speak to us regarding foreclosure help in Simi Valley California, call us today at 805-250-8335 for a FREE, no-obligation consultation. Or if you prefer, you can also fill out one of the forms on this page or send us an email to Info@DreamHomePS.com.
Foreclosure Help in Simi Valley
If you are struggling to make your mortgage payments, we understand that it can be a stressful and scary time. Regardless of whether your lender has officially started the foreclosure process, we want you to know that you are not alone. Although the number of foreclosures may have dropped from the levels they were at right after the residential real estate market crash in the late 2000s, there are still Ventura County residents who are faced with this problem on a daily basis. One of the first steps that you should take is to call your bank or servicer and explain your situation. They might be able to work out a solution with you without having to initiate the foreclosure process. Even if you are unable to find a solution with them, it is still helpful to know that so that you can start pursing other options.
Programs for Foreclosure Help in Simi Valley
If speaking directly with the bank does not help with a solution, there are federal programs available that you may be eligible for, including the following:
Making Home Affordable
Making Home Affordable is a federal program to help Simi Valley homeowners modify or refinance their existing mortgage to make payments more affordable. There are also opportunities for assistance to Simi Valley homeowners who may be unemployed or underwater on their mortgage. You will need to provide information to your mortgage company that will depend on your unique situation, so make sure to check the Making Home Affordable website for more details.
Home Affordable Refinance Program (HARP)
If you have a mortgage owned by Fannie Mae or Freddie Mac, you may be eligible for HARP. This program allows you to refinance your mortgage, even if you owe more than your Simi Valley home is currently worth. Other eligibility requirements include being current on your mortgage and your loan being originated on or before May 31, 2009. Make sure to check the HARP website for more details.
Simi Valley Foreclosure Avoidance Counseling
Foreclosure avoidance counseling is a free service offered by the U.S. Department of Housing and Urban Development. Foreclosure counselors provide advice for foreclosure help in Simi Valley, as well as the rest of the country. Counselors will help you find a solution that is best for your unique situation after reviewing your mortgage and your household income and expenses. As of the writing of this page, there is one Simi Valley HUD housing counseling agency, but you can perform a search for other agencies in Ventura County using their search tool.
Your counselor should tell you what documentation you need to bring to the appointment, but expect that it will be similar to the following list:
– Mortgage payment statement (including mortgage loan number)
– At least two recent pay stubs
– Tax returns from the past two years
– Bank and any other financial statements
– Documentation of any other monthly payments such as student loans, credit cards, car loans, bills, etc.
Counseling sessions can vary by agency, but you can expect that your information will be documented and you will be provided with privacy policies and authorization forms. At some point, they will review your finances to help determine steps needed to stabilize or resolve your financial situation with the bank. We understand that most people don’t like talking about their finances, but the more honest you are about your situation, the better equipped the counselor will be to offer foreclosure help in Simi Valley. Ultimately, the counselor should provide you with a detailed step-by-step action plan and refer you to additional nonprofit or government resources as applicable. If it helps you, the counselor can either contact your lender with you or contact the lender on your behalf.
Foreclosure help in Simi Valley, California
The most important part when facing foreclosure in Simi Valley is to not wait until the last minute to take action. The earlier you start communicating with your lender and seeking foreclosure help, the more options you will have available to you. The last thing you want to happen is to lose your home when measures could have been taken to avoid that if you would have reached out for help sooner. If you are facing foreclosure in Simi Valley, or anywhere in Ventura County, and have any questions whatsoever, please reach out to a real estate professional as soon as possible. We would be happy to help in any way possible and explore your options with you. As mentioned above, feel free to send us an email to Info@DreamHomePS.com, give us a call at 805-250-8335, or fill out one of the forms on this page. All consultations are no-obligation and completely free of charge. Your information will always be kept strictly confidential!