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Congressman Sherman to Host Town Hall Meeting Sunday, February 26th
Congressman Brad Sherman will host a Town Hall meeting from 3 p.m. to 4:30 p.m. on Sunday, February 26th, at Reseda High School, located at 18230 Kittridge Street.
The Congressman will discuss the economy, taxes, housing, the national debt, education, Social Security and Medicare as well as other issues facing Congress. Most of the meeting will be devoted to Congressman Sherman listening and responding to questions from Valley residents.
Date: Sunday, February 26th
Time: 3:00 p.m. to 4:30 p.m.
Location: Reseda High School, 18230 Kittridge Street
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Seminar on Refinancing, Home Purchasing and Foreclosure Avoidance
Congressman Brad Sherman will host a seminar on home refinancing, home purchasing and foreclosure avoidance.
Saturday, February 18th
[9:30a.m. – 12:30p.m.]
Pointers for Homebuyers
Refinancing Even with Low Equity
Foreclosure Avoidance
Free Personal Counseling from Government Experts
To RSVP email: sherman.rsvp@mail.house.gov
Or For More Information See Our: Housing Seminar Flyer
Sherman Oaks/East Valley Adult Center
5060 Van Nuys Boulevard
Sherman Oaks, CA 91423
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Refinancing at Lower Rates for Those with Low Equity (or No Equity)
Mortgage rates are at historic lows and many homeowners want to refinance to reduce their monthly payments by hundreds or even thousands of dollars. But many homeowners do not have the 20 percent equity required to refinance, and some owe more than the current value of their home.
Congressman Sherman cosponsored the HOME Act which allows those with mortgages owned or guaranteed by Fannie Mae and Freddie Mac to refinance – even if they owe more than their home is currently worth. Even if you write your check to a major bank, your mortgage is probably owned or guaranteed by Fannie Mae or Freddie Mac.
This provision will help create jobs in the San Fernando Valley. Homeowners who save hundreds of dollars each month are good customers for local Valley businesses. Furthermore, it does not expose the federal government to additional risk because these mortgages are already guaranteed or owned by Fannie Mae or Freddie Mac.
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Keeping Home Mortgages Available
Under a new provision championed by Congressman Sherman, those buying or refinancing a home in the Valley will be eligible for an FHA-insured mortgage of up to $729,750. FHA loans offer a lower down payment and a much lower interest rate. It also increases the likelihood that someone buying a home will get approved for a loan, and that those trying to sell their home will find an eligible buyer. Without this provision we would have seen another sudden decline in Valley home prices, severely harming the Valley economy.
Best of all, the increased limits do not require a dime of additional spending by the federal government.
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