Promoting the Business and Service spirit in Oroville

OROVILLE. For those of you who don’t know Oroville, I will be doing a blog fest introducing local businesses and what they offer. Oroville is comprised of alot of the “Mom and Pop” stores with some big corporations mixed in. A nice combination.

We have alot of hard-working and honest entrepreneurs in our midst bringing us unique offerings and/or services in a hometown atmosphere. That is not to say that we are left behind in the ages but rather a blend of old and new.  Some business owners are from here and some have come to visit and ended up staying. No, not the Hotel California kind of staying but rather, a choice!

Whether I am going to town for a specific need or driving clients around town and out-lying areas to look at Oroville real estate, or just beebopping around taking photos of our gorgeous Oroville lake, Feather River, and other beautiful areas to post..it is just comfortable here.

Stay tuned, same bat channel, different day to learn about the great businesses and services Oroville has to offer.

The Loan Modification Process – Part One

You may have heard about the news that the government has asked the mortgage banks to work with homeowners who have been hit by the sluggish economy.

This comes in many different forms, but the one I will be discussing is the loan modification. You may have also heard good or bad things about the loan modifications.  I know personally of two in the past few weeks that were approved for residents in the Oroville area, one through Bank of America and one through Wells Fargo Home Mortgage.  If you find yourself in a financial bind, it does not hurt to contact Making Home Affordable and enquire as to your eligibility and the requirements.

If you decide to make that call or get on the website, have a good bead on what your income and expenses are, how much you owe on bills, credit cards, mortgage, and your household costs such as food, gas.  Once you contact Making Homes Affordable and your lender, they will want all of this information over the phone. They will ask you what your intentions are for the property. You should receive a package in the next few days with directions and information as to what is expected of you, the borrower. It may seem intimidating or intrusive, I understand…but it is information necessary to obtaining the loan modification. You must be 100% honest and be able to back up your position. In addition to providing your financial information, you will be required to prepare and submit a “hardship” letter.  This is a letter directed to the lender describing your specific hardship. This is your chance to put it all in writing, in your own words, asking for help in the form of a loan modification.  I would state in this letter what your intentions are with your home, if this is a home you feel is truly your home and not just a place to hang your hat, so to speak..by all mean, express yourself!!! This is a more personal snapshot of you and not just your financial situation.

Make sure the financial sheet you fill out matches your bills. You will need to provide proof of income and some banks will require 3 most current bank statements. If your are an Independent Contractor, you will need to provide a Profit and Loss statement current to the date you send your loan modification package back. 

To begin the Loan Modification process contact:  “Making Home Affordable”:

You can go to the website at http://makinghomesaffordable.com , click on the link at the top of the page “Loan Modifications” or contact them by phone at 1-888-995-HOPE.

To Be Continued in Part Two.

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