California Mortgage & Rent Help During COVID-19

Posted on April 6, 2020. Filed under: Homeownership, Informed Investor Alliance, Lenders & Loan info, Making Life Easier, Orange County CA Foreclosures, Orange County Real Estate, Property Mangement | Tags: , , , , , , , |

Hi friends!

Worried about paying your California Mortgage or Rent Payment?

Wanted to share this video with you and let you know about some important financial resource links if you’re struggling to make your mortgage or rent payments due to the recent Coronavirus Pandemic.

Renters, you should know there is a moratorium on evictions until May 31st. Click here for more info on the California rental moratorium: https://www.gov.ca.gov/2020/03/27/governor-newsom-takes-executive-action-to-establish-a-statewide-moratorium-on-evictions/ . If you are working virtually and in a position to pay your rent, please don’t use Coronavirus as an excuse not to. This will put undue pressure on the people who really do need this relief.

Landlords & small business owners, you’re likely eligible for some financial assistance through the SBA’s Paycheck Protection program. Here’s a PDF from the US Chamber of Commerce with more info to see the criteria to qualify:

Click to access 023595_comm_corona_virus_sma.pdf

 

Additionally, you can click here to apply for the SBA Disaster Relief Fund. This online form takes about 10-20 minutes to complete. Funds can deposit into your bank account in as little as 3 days:  https://covid19relief.sba.gov/

Homeowners, you’ve got help as well. Most banks and loan servicing companies are offering a forbearance option. It’s ok if you don’t know what forbearance is – here’s the Wikipedia definition:

Forbearance, in the context of a mortgage process, is a special agreement between the lender and the borrower to delay a foreclosure. The literal meaning of forbearance is “holding back.”

When mortgage borrowers are unable to meet their repayment terms, lenders may opt to foreclose. To avoid foreclosure, the lender and the borrower can make an agreement called “forbearance.” According to this agreement, the lender delays its right to exercise foreclosure if the borrower can catch up to its payment schedule by a certain time. This period and the payment plan depend on the details of the agreement that is accepted by both parties.

Historically, forbearance has been granted for customers in temporary or short-term financial difficulty. If the borrower has more serious problems, e. g. the return to full mortgage payments in the long term does not appear sustainable, then forbearance is usually not a solution. Each lender is likely to have its own suite of forbearance products.

Now a word of warning. Homeowners, PLEASE read the fine print from your bank, and only use this option if you need to. Many times you’ll get more interest in the end, or a really big payment after a forbearance, so you need to understand what you’re getting into.

We’ll also offer the same advice as the renters here..If you’re able to pay your mortgage, please pay it. This will keep funds flowing to the banks, and allow the banks to keep lending to new buyers that need a place to live. Our real estate market has slowed, but it hasn’t stopped. We definitely don’t want to add fuel to this fire and create a bigger issue.

If you’ve been doing research on various financial assistance programs out there, feel free to share. Please comment any links you’ve found for Coronavirus or financial relief below.

Hope all of you are feeling healthy and excited to go out and do great things once you’re back into the world! Consider reading our post on 5 Important Things to focus on during COVID-19 next, and let’s make some long term progress while we’re here at home. If you’re not sure what to do, you can always setup a website to crowdfund your next down payment with Vow2Save, install CreditKarma to check your score, or call your lender about a low interest refinance 😉

 

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5 Things We’re Focusing on During COVID-19

Posted on March 24, 2020. Filed under: Home Improvement Ideas, Homeownership, Informed Investor Alliance, Orange County Real Estate, Orange County things to do, Organizing | Tags: , , , , , , |

Welp, in a matter of 2 weeks… our world has completely changed with the Coronavirus  COVID-19 pandemic, and we’re scrambling along with the rest of society to find a ‘new normal’. That said, it’s refreshing to have the opportunity to rethink everything we’ve been doing; both professionally and personally, to reprioritize what’s most important.

Our Top 5 Focus Areas During Orange County Quarantine

  1. Relationships – Above all, we love & care about our family, clients, prospects, & fellow humans. We’re moving to Zoom meetings, FaceTimes, and other online communication forums to ensure everyone’s safety and flatten the curve. Checking in on people who might be lonely or struggling with kind texts. I’ve committed to doing more regular videos, and virtual open houses. One action item was a comfy space at home to do virtual meetings – have you created yours yet? It’s fun! Feel free to comment a pic for us 🙂
  2. Immunity – Clearly, we’ve got nothing without our health. We think and act better when our body is functioning at it’s best. During this time, are you eating for health & wellness? Taking vitamins? For sure….dark chocolate is still aplenty in our home, but personally I’m watching my sugar, soy, hormone, and gluten intake, and drinking more alkaline water. We’ve got handsoap filled by each sink – one of our fave brands is Jade Bloom if you like delivery & to support small business 😉 Another thing we did was up our Farm Fresh to You order. They deliver all kinds of healthy fruits, veggies, & even organic eggs to your door. Why go to grocery if you don’t have to? Also made a nightly routine of essential oils, because they are soothing & help immunity. Favorites are lavender, protect, & lucid for sleeping. Please share…what are your secrets for immunity?
  3. Depositphotos_168021158_xl-2015

    We’re seeing a lot of our clients on social media baking & crafting with their kiddos. We love to watch everyone embracing this family time in their homes.

    Mental health – This is a BIG one. People’s lives just got disrupted and they are angry, scared, and upset. Ignoring it, shaming yourself, or attempts to drown it away won’t help. We need to come to terms, choose LOVE, and a new path to move forward. My preferred way to handle this is to ask: “Is my inner child happy today?” If I do something to make my inner child happy, then I usually feel good about life. When I cage my inner child, shame her, or ignore her because I’m unbalanced in some way….THEN my mental health seems to go sideways. Usually ‘little Angie’ wants to make something, hence the artist studios we’ve been building through Flower Den Retreats. Cooking, yoga, meditation, and prayer are also great daily exercises for mental health. What are you intentionally doing to protect your mindset right now? Are you at peace with yourself & love yourself? This is the space where smart & strategic decisions come from…be ready to make them. And it’s OKAY if you’re down in the dumps. Please reach out to someone you love for a life rope. The national suicide hotline is 1-800-273-8255 – save this number in your phone – you may never need it, but a friend just might!

  4. Budget – Not gonna lie – things could get tight. Are you handling this on a proactive or a reactive basis? You probably have the time to be proactive, so do that. Check online to see what relief your mortgage company is offering, and stay subscribed to our YouTube & blog here for regular updates on national mortgage relief options. Think….Where can you cut more? What small businesses can you support more? For example, we’re planning to cut our 800# & moving to WhatsApp – seems to be the preferred international & ‘long distance’ platform anyway. What apps are you paying for that you don’t use? Subscriptions? This is a great time to organize your finances, put everything on autopay, or even take the time to improve your credit. We recommend the CreditKarma app to get started on credit, and Mint.com for an overall picture. Let us know what resources you use to plan your budget.
  5. Investments – No time like the present to watch your favorite experts on YouTube! Consider sharpening up your knowledge and exploring some new areas to invest in. Ask hard questions like: Am I diversified? Stocks, mutual funds, crypto, property? How can I spread my risk? Do I have all my eggs in one basket? WHO am I trusting to get my facts from? Since we’re experts on the Orange County real estate market, we’ll help you with quality local resources to trust. A couple favorites are Reports on Housing & California Association of Realtors.
woman and hands with paper house

“Nothing can bring a real sense of security into the home except true love.” – Billy Graham

For most of our clients, their home is their biggest investment, and they’re spending a LOT of time in it right now. Hopefully, you’re happy with your space and embracing this time to improve upon it. If you’re worried about your property value going up, down, or sideways… you’re not alone. We offer monthly home value reports to show you what’s happening in your neighborhood. Just text Angie your address at 949-338-7408, or fill out the form below to receive your property’s value.

We want to wish you and your family health, healing, and happiness during this quarantine. Please reach out if we can help you with anything – we’re here for you & care about our fellow humans!

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    Orange County, CA Real Estate for hip first-time buyers and investors. Plus, fun things to know and do in OC.

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