New Workout Plan For Freddie Mac High Risk Los Angeles Borrowers
The new work out plan announced by Freddie Mac last week may help high risk Los Angeles borrowers stay in their homes.
The new workout plan focuses on the use of 3rd party servicers that specialize in servicing Alt A and other types of higher risk mortgages.
"A workout strategy is only as successful as the number of knowledgeable counselors available to answer the phone. Our strategy for high risk loans is designed to help servicers cope with today's unprecedented call volume by directing calls to a specialist with the specific staff and technical resources for handling a high volume of borrowers with these types of mortgages," said Ingrid Beckles, Freddie Mac's senior vice president of default asset management.
The number of Los Angeles high risk borrowers who are in default on their mortgage payments keeps growing at an alarming rate. If you are a Los Angeles homewoner in default there are options other than foreclosure. Give me a call for a private consultation.
