Avoid Foreclosure in the Inland Empire

November 30th, 2007 • Related • Filed Under

Looks like the Inland Empire may recieve much needed assistance and homewers may be able to avoid foreclosure with a new plan by our governor. 

Gov. Schwarzenegger came to Riverside on Thursday to alert homeowners living in one of the nation’s most mortgage-troubled regions about options that may save their homes from foreclosure.

Schwarzenegger announced a $1.2 million public-awareness campaign a week after saying he had reached an agreement with four large mortgage-servicing companies to freeze interest rates on adjustable-rate mortgages for homeowners who live in their property, are current on their payments and cannot afford to pay higher interest rates.

The governor said Thursday that he is working to add more loan-servicing companies to the agreement, which now includes Countrywide Financial Corp., Litton Loan Servicing, GMAC Mortgage and HomeEq Servicing.

Read the Rest of the Story by the Leslie Berkman of the Press Enteprise here.

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