Are you having trouble making your payments?
We may be able to help.
We understand that sometimes there are events and circumstances that cause people to fall behind on their mortgage payments. Most of the time, they can catch up, but sometimes, despite their best efforts, they find themselves in a financial crisis.
If you find yourself in this situation, please contact us at 661-847-4800. There may be a program to assist you.
Following are some of the programs we can offer you:
Forbearance. This is a temporary reduction or suspension of your mortgage payments. Forbearance might be available if recent events have made it difficult for you to make your payments—for example, if you recently lost your job, suffered from a disaster, or had an illness or injury that increased your health care costs. If this option is available, your lender could create a payment plan to make up any missed payments over a period of time.
Mortgage modification. Your lender may be able to change your loan terms, such as your interest rate, the amount of principal you owe, or the number of years you have to repay the loan.
If you are not able to continue paying your mortgage, your best option may be to find more affordable housing. As an alternative to foreclosure, you might be able to transfer ownership of your home without having to pay off the full amount of your mortgage, although you would be required to leave your home. For example, you may be eligible for the following option[s]:
- Short-sale. With your lender’s permission, you might be able to sell your home and pay off your mortgage even if the sale price is less than your remaining balance. You might also be eligible to receive money to help you move.
- Deed-in-lieu of foreclosure. Your lender may release you from your mortgage if you transfer ownership of your home to your lender. As with a short sale, you might also be eligible to receive money to help you move.
When applying for a loan workout with Karpe Real Estate Center, please include the following items:
- Your most recently filed state and federal tax returns with all schedules and W-2.
- Your two most recent paystubs, reflecting your year-to-date income. If there are multiple borrowers, please collect the paystubs for each borrower.
- Any records of bonuses, commissions, housing allowances or tips.
- If you are self-employed, your most recent quarterly or year-to-date profit/loss statement(s).
- If you collect social security, disability, pension, public assistance or unemployment benefits, benefit documentation stating the amount, frequency and duration of your benefit(s) and a copy of your two most recent bank statements.
- If you receive alimony or child support income or payments, a copy of the agreement or decree that states the amount of the alimony or child support and period of time over which it will be received and proof of payment, such as deposit slips, bank statements, court verification or tax returns.
- Documentation of checking, savings, money market and IRA/Keogh accounts.
- Documentation of stocks, bonds and certificates of deposit.
- Documentation of 401K and employee stock ownership plan participation.
- Description of other assets, including investment properties, rental income and costs.
Monthly Housing and Living Expense Information
- Account statements for any other mortgages on your property and homeowners association dues.
- Account statements for property taxes, utilities and telephone.
- Account statements for home owners, car, life and health insurance.
- Account statements for credit cards, student loans, car payments and other loan obligations.
- Documentation that enables you to estimate any other expenses, such as food, gas, clothing, tuition or alimony or child support payments.
Processing times may vary depending on each borrower’s situation. To ensure your request is processed as quickly as possible please send us your complete information as specified in your document checklist. In general it will take Karpe 3-4 weeks to review your information and to make an assessment. Please contact Vanessa Marmolejo, in our office, immediately at (661)847-4862, Monday through Friday 8:00 am to 9:00 pm PST or by email at firstname.lastname@example.org to learn more about your options and for instructions on how to apply.
If you would like contact information for counseling agencies or programs in your area, contact the U.S. Department of Housing and Urban Development (HUD) at (800)569-4287 or go to www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm. Your State housing finance authority may also be able to help. You can reach them at (800) 669- 1079 or www.calhfa.com.