These days everything is working for homeowners if you just know where to look, or pay attention to the news. Obama keeps stepping up to the plate when it comes to the “Making Homes Affordable Act”.

I felt so bad today. I called a friend of mine in Arizona and since his wife died recently, he needs his mortgage to come down only $100 a month. He’s an old Country Wide loan that now belongs to B Of A. They have been with B of A for many years. When my friend went to B of  A they turned him down because he wasn’t behind in his payments, even though he knew he soon would be if  they wouldn’t help him.

He found (or somebody found him) a company that charged him $4500.00 up front to take care of his mortgage. You could have knocked me over with a feather when he told me that. I have been sending him updates, told him to go to FHA, and this is what he chose. I am now hoping to God it works for him.

I am telling you people, and especially people in California, it is illegal for anyone to be charging you upfront fees without DRE approval. They revoked all approvals given to mortgage brokers, and no one may be approved unless they post some kind of bond (according to the attorney general) and I’m not even sure about that.

If you have someone approach you that wants to charge you before they have done anything, Please check with your lawyer. So many scam artists are taking advantage of peoples fears and lack of knowledge right now. Don’t be one of them.

If I can ever help, if you have any questions, feel free to call me anytime. It doesn’t cost you anything to become knowledgeable.