My name is Jacie Casteel. I am the senior loan officer and branch manger of Sterling Mortgage, located at 1002 11th St. in Lakeport. I have lived in Lake County since 2001 with my husband and family. I have had the privilege of providing home loans for wonderful clients ever since I moved here. I am starting this question and answer column to provide information to everyone about commonly asked questions that I receive regarding qualifying for a loan, credit, what to do first and more. I encourage everyone to submit questions to me at info@sterlinglakecounty.com.
Here’s the hot question right now.
Q: “My home has been destroyed from the Valley Fire and I can’t pay my mortgage, what do I do?”
A: All major financial lending institutions have policies on assisting victims of disaster. The very first and most important step is to call the servicing company that you make your monthly mortgage payment to and explain to them your situation. Each case is evaluated and handled individually, but they should be able to assist you by suspending or reducing your payment for up to 90 days. They may also be able to modify your loan for a long-term solution. You also want to reach out to your insurance company. Most policies have “Loss of use” coverage. Besides providing you funds to rent a new home and possibly furnish it, depending on coverage, they can also assist with mortgage payments. Because the situation has been declared a National Disaster, FEMA is possibly also available for assistance. They can help with temporary housing, funding for repairs, replacement of property lost, etc. You are encouraged to apply. Apply online at www.disasterassistance.gov. — Apply via smartphone at m.fema.gov.
All of us at Sterling Mortgage send our heartfelt prayers and thoughts to all of you that have been affected by this awful disaster. We are here to help you all in any way and can be reached at (707) 263-5142.
