Debora Sanders

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Shelter In Place Update for Monterey County

May 28, 2020

Shelter In Place Update for Monterey County

Yipee! We're heading into Stage 2 Expansion for the Monterey County Shelter in Place order. Face coverings are still required and of course social distancing but some businesses are opening up. List of businesses being added this week: Dine-In Restaurant Service - with Restrictions Car Washes Pet Grooming Services Offices Outdoor Public Places Residential Cleaning and Janitorial Shopping Malls Religious Observances with Restrictions Schools with Restrictions Outdoor Museums L

Fannie & Freddie Allow Payment Deferral Post-Forbearance

May 15, 2020

Fannie & Freddie Allow Payment Deferral Post-Forbearance

Yesterday, Fannie Mae and Freddie Mac announced that homeowners in forbearance could request payment deferrals and add any missed payments to the end of their loan term, without penalty or added interest. That's great news but remember, this doesn't mean you don't have to repay, it just means your loan is extended. It also only applies to the Government-Sponsored Enterprises, not necessarily traditional banks and lenders. Here are some Highlights: Freddie Mac will allow a bor

What's the Difference Between Forbearance and Deferment?

Apr 15, 2020

What's the Difference Between Forbearance and Deferment?

Many people who are concerned about making their mortgage payments during the COVID-19 crisis were relieved to hear that their lender might be able to help. Although this is true, make sure you understand the terms of your agreement. It's not free money or a free mortgage payment. Here's a quick overview of some of the options: A mortgage forbearance allows borrowers to temporarily stop making their monthly payments, but be careful! At the end of a forbearance period, genera

Beware of COVID-19 Mortgage Scammers!

Apr 5, 2020

Beware of COVID-19 Mortgage Scammers!

Unfortunately, in times of crisis, there are still those who look for ways to take advantage of others. Freddie Mac warned this week that it learned of a scam where borrowers were receiving fraudulent calls impersonating the mortgage financing giant in offering low interest rates and other false promises. I know you are under a lot of stress but be careful and follow the tips below: If you need mortgage relief, call the lender directly. It's unlikely that lenders will call yo

Mortgage Relief to California Families During the COVID-19 Crisis

Mar 27, 2020

Mortgage Relief to California Families During the COVID-19 Crisis

Good News! Governor Gavin Newsom announced that financial institutions will provide major financial relief for millions of Californians suffering financially as a result of the COVID-19 outbreak. If you call, I assume you are going to have big wait times but persevere! Here's the summary: Governor Newsom secured support from many banks including Citigroup, JPMorgan Chase, U.S. Bank, and Wells Fargo and nearly 200 state-chartered banks, credit unions, and servicers to protect