Since the start of the housing downturn, the number of Web sites and foreclosure-prevention companies claiming to offer help to struggling borrowers has greatly increased. While some of the businesses are legitimate, others are fraudulent and offer services that consumers may be eligible to receive free of charge.
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California Insurance Commissioner Steve Poizner is encouraging California homeowners to review their homeowners’ policies and to consider their options regarding vacancy protection. According to Commissioner Poizner, vacant or unoccupied homes can leave the homeowner exposed to loss and liability that may not be covered by their insurance. Homeowners’ policies are intended to insure occupied homes. Generally home insurance policies include exclusions for neglect or property abandonment on a home left vacant or unoccupied for a specified number of consecutive days. Vacant and unoccupied homes pose a higher risk for damage than occupied homes, so insurance companies insure these properties differently and usually at a higher price. More information can be read at state insurance department’s press release by Insurance Commissioner Poizner. Over the last five years, one of the newest developments in real estate is the ability for home buyers and sellers to search online for a home’s value. Popular Web sites such a zillow.com, cyberhomes.com, and eppraisal.com offer free home estimates, but some consumers and real estate industry professionals say the values calculated often are inaccurate and misleading. ….. Continue reading “Online estimate often fail to pin down accurate prices“ The U.S. Treasury Dept. announced yesterday, August 11, it is providing additional funding to a California program to help homeowners struggling to make their mortgage payments due to unemployment. The program, administered through the California Housing Finance Agency (CalHFA) will assist struggling borrowers make up to six months of mortgage payments. Lenders will be asked to match the government contribution. ….. Continue reading “California’s jobless will get help with mortgages“ |
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August 27th, 2010 