Home RSS
Real Estate

New Law to Delay Foreclosures

New Law to Delay Foreclosures - Real Estate Law - Foreclosed property - United States

Fresno - The American dream of homeownership continues to turn into a nightmare for many families.

"There are people who've given up hope, I had a client who said I'm just done know, I don't care," said Irma Machado with San Joaquin Real Estate and Financial Services.

She says many borrowers are too discouraged and too impatient to find a solution.

"We're in the process sometimes 6 months trying to get them a loan modification they just give up," said Machado.

The new California law tries to make the process easier, giving borrowers an extra 90 days to modify their loans to make their monthly payments more affordable. And it makes lenders try harder to keep borrowers in their homes.


Add your comment
  Anonymous comment
  Remember me on this computer

Send me by email any answer to my comment
Send me by email every new comment to this article

Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.