LOS ANGELES, Oct. 22 /PRNewswire/ — Among the top 10 metro areas with the largest number of foreclosure filings are six California cities. Merced topped the list followed by Modesto, Stockton, Riverside-San Bernardino, Vallejo-Fairfield, and Sacramento.
A large number of homeowners in California are turning to the CalCORP Mortgage Program to learn about ways to reduce the risk of foreclosure.
The CalCORP Mortgage Program is a collaboration of a number of financial sector organizations. It is available to California-based public and private corporations and their employees. Individual employees are eligible to participate in the CalCORP program if they are currently employed by a California-based corporation.
Orit Gadish, President of Gadish Financial, and a former First Vice President of Countrywide Financial, said, “Understanding the terms of an existing home loan and their implications is the first important step that is likely to lead to making timely decisions to refinance or sell a property to avoid foreclosure”.
If it is not feasible to refinance, the program helps the homeowner to negotiate with their lender to obtain approval for a Short Sale. With a Short Sale, the homeowner sells the home at a value that is lower than the current loan amount, preventing foreclosure, and as a result, protecting the homeowner’s credit rating.
Commenting on the large number of foreclosures in California, Orit Gadish, President of Gadish Financial, states, “We are committed to educating employees of California based public and private corporations to make their financing choice the best one available in the market.”
The CalCORP Mortgage Program offers employees access to wholesale residential mortgage rates and discounted and waived closing costs. It offers protection from “junk fees” commonly charged as part of the transaction. Each loan is reviewed for accuracy of fees being charged, to ensure all fees are valid. The program provides non-government employees with benefits similar to those currently available to California government employees and state teachers, respectively, through the CalPERS and CalSTRS Member Home Loan Programs.
Homeowners who needs assistance with understanding the terms of their existing mortgage and identifying the right solution for their situation can call 877-GADISH-1 for a free consultation.
For further information about CalCORP, please contact Gadish Financial at 1-877-GADISH-1 or visit their website at http://www.GadishFinancial.com.
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SOURCE CalCORP Mortgage
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