Santa Clarita realtor Richard Szerman from Alta Realty offers free assistance to mortgage holders seeking forbearance under the CARES Act, urging them to file soon, as he expects these programs to quickly come to a close.

Szerman described the CARES Act as “Congress’s response to relief for the coronavirus for people with mortgages,” and said that he will be offering Santa Clarita residents free advice and help to access forbearance under this program.

The Santa Clarita realtor further explained that the CARES Act allows homeowners who hold a federally-backed mortgage to petition the bank for a six month forbearance of payment.

Related: Santa Clarita Realtor Offers Free Foreclosure Defense Via Loan Modification

“In our area (Santa Clarita), about 70 percent of all mortgages are federally backed,” Szerman said. However, he also mentioned that some banks “are going to start following something very similar to that even if your loan is not federally backed.”

Szerman described normal forbearance as allowing mortgage holders to put off payment to the bank for 90 days. Under the CARES Act, mortgage holders impacted by the coronavirus can take 180 days to repay the amount due.

“A forbearance is not a deferment,” Szerman said. “For a deferment, normally they put (the amount due) at the end of your loan.”

He further explained that “at the end of the forbearance period, the bank is going to expect you to write them a very large check, and most people aren’t going to be prepared to do that.”

The Santa Clarita realtor said that, after the initial six month period, mortgage holders can petition the bank for an additional six months of forbearance under the CARES Act.

If they are still unable to repay the full amount after a year, mortgage holders may need to seek a loan modification.

Szerman said he expects the banks to continue offering CARES Act forbearances for “another 30 days, maybe. … Maybe we’ll get 60 (days).”

“Your opportunity for getting some of this stuff done is beginning to close,” warned Szerman. “You need to act now.

The Santa Clarita realtor has even made his personal cell phone available to those who need help with mortgage problems as part of his long-standing free foreclosure defense services.

“Please feel free to call if you have any questions. My personal cell phone number is (661) 714-1400,” Szerman said. “Please consider me a resource; call any time.”

Ed. Note: This article is a KHTS Community Spotlight based on a recent radio interview with Richard Szerman of Alta Realty Group.

Santa Clarita realtor Richard Szerman, of Alta Realty Group, has more than two decades of experience as a realtor. After “quietly” conducting public outreach and pro bono work as a realtor in Santa Clarita for many years, Szerman is raising awareness about the opportunities available to the community through Alta Realty Group. He offers free foreclosure defense services to the public, gives clients money to buy a house based on the rent they have previously paid, and gives sellers money to fix up their house in an effort to help it sell at a higher price. The Rental Rebate, Free Loan Modification and Resale Renovation Programs are designed to help make it easier to buy a house, sell a house and even save a house from foreclosure. Anyone looking for a “realtor near me” can reach out to the team at Alta Realty Group today. 

Richard Szerman, Alta Realty Group

27451 Tourney Road, Ste #140
Valencia, CA  91355

Office: (661) 253-3000

To call/text Richard directly: (661) 714-1400

Richard Szerman, Alta Realty Group – Santa Clarita

https://www.youtube.com/watch?v=SVLAXR3Dj1U

Santa Clarita Realtor, Realtor in Santa Clarita, Rich Szerman, Richard Szerman, Alta Realty Group, Save a House From Foreclosure, Foreclosure Defense, Free Foreclosure Defense, Realtor Near Me