Helping Hand for Livermore Homeowners!

While the real estate market has brightened in Livermore Valley, there are some homeowners who could use a hand with their mortgage payments. Normally my blogs talk about buying or selling a home in Livermore Valley, but today I’ll share information that could help save a home from foreclosure.

Let me start by saying there is no free pass for anyone who is simply underwater in home value.  However, assistance may be available for Livermore Valley homeowners who have experienced one or more of the following hardships:

  • Unemployment                                                           
  • Reduced Income
  • Death of a mortgagor
  • Serious illness of a mortgagor
  • Disability of a mortgagor
  • Divorce between mortgagors

Depending on who holds your mortgage loan, the type of assistance available could include temporary suspension of your mortgage payment, temporary or permanent reduction of your payment amount and, more rarely, reduction of your principal balance.  In all cases, you must first qualify for assistance by supplying detailed financial information about your income and your expenses.

Your lender will then determine what remedies are allowed for your type of mortgage, and if your situation meets the conditions of those programs.

It’s about as much fun as a root canal, but the end result could be well worth the pain.

An encouraging development for Livermore Valley homeowners is a new program offered by the California Housing Finance Agency, which became effective 01/10/11.  The initial focus centers on unemployed California homeowners who need help with making their monthly mortgage payments.  Additional programs are coming as of 02/07/11.

The new plans are part of the “Keep Your Home California” program which has been fortified with two billion dollars in Federal funds.   To find out more about the programs tailored for California homeowners, visit or call 888-954-5337.

Other options include the nationwide “Making Home Affordable” program which includes mortgage refinance, modification, and foreclosure alternatives.  Learn more by visiting or by calling 888-995-4673.

Home ownership is an important part of our economy.  It also provides a greater quality of life in many instances, providing freedoms and amenities that are hard to find as a renter.  Any homeowner who is struggling with a mortgage should not hesitate to reach out for assistance.

Having good information is the first step in any real estate decision.  If you have questions about buying or selling a home in Livermore Valley, or if you’d like a Comprehensive Market Analysis of your home, contact me today!

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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