Farm loan deadline approaching

Farmers and ranchers in all Oklahoma counties except Beaver, Cimarron and Texas who suffered storm losses Jan. 12-26 are reminded of the Dec. 12 deadline to apply for emergency loans through the Farm Service Agency.

Loans may be used to purchase seed, fertilizer, fuel and for repairs.

Michael Roberts, farm loan manager, said farmers can use the money for the most essential operating and living costs. Loans covering losses are at a 3.75 percent interest rate.

More information is available from the local FSA office, 238-6236.



American Guaranty

Title plans class

American Guaranty Title Company will present a class for Realtors and mortgage lenders at the Newcastle Community Center 10 a.m. Dec. 6.

The Top Title Questions class will be presented by Kristal Beard, closer and escrow office manager for AGT’s Southwest Oklahoma City office.

“The class is designed for the veteran Realtors as well as someone who has been licensed only a short while,” Beard said. “We will be discussing common pitfalls of the real estate transaction as well as how to get to the closing table smoothly. I’m always excited to teach these classes because I feel it is an important service to the public as well as to the industry.”

The course has been approved for two hours of continuing education and lunch will be provided after the class concludes around noon.

Reservations can be made by calling Gail Smith at 737-4834 or e-mailing gsmith@oldrepublictitle.com.



Exporting workshop Wednesday

The Oklahoma District Export Council, in conjunction with the Oklahoma U.S. Export Assistance Center and the Oklahoma Department of Commerce, will sponsor a full-day exporting workshop Wednesday.

The event will give participants a basic guide to exporting. Cost is $35. Presenters include international bankers, attorneys, business practitioners and international trade specialists.

More information is available by calling 608-5302.



Native Roots open house

Native Roots Market will host a grand opening party in conjunction with the state’s Centennial celebration. The event will be 7 to 9 p.m. Friday at the market, 132 W. Main St.

Guests are invited to sample foods and beverages and meet the farmers who grow Oklahoma products. Live music will be performed by local artists.



Fend off foreclosure

NEW YORK — Foreclosures more than doubled over the past year, thanks in large part to the subprime lending crisis. And with monthly payments set to increase on 2 million mortgages over the next 18 months, things may get worse before they get better, warns Nick Jacobs of the nonprofit National Foundation for Credit Counseling.

When faced with the possibility of foreclosure, many people are paralyzed by fear. But it’s important to contact your lender as soon as possible to discuss your options. If a lender believes you are acting in good faith, it will often work with you to find an alternative payment schedule.

But your chances of getting assistance go way down after you’ve missed three or four payments, warns the Federal Trade Commission.

If you’re having trouble making mortgage payments on your home, you may consider the following alternatives to foreclosure:

• Repayment plans. If you haven’t missed many payments, you can ask your loan holder to allow you to pay off the money bit by bit, adding a portion of the past due amount to your regular payments.

• Reinstatement. If you’re experiencing a temporary shortfall of cash, your lender may offer you a fixed amount of time to pay off the past due amount. But be aware that you’ll also be responsible for covering any late fees and penalties you’ve incurred.

• Forbearance. If you lose your job or are otherwise unable to make your monthly payments, your lender may agree to reduce or suspend your payments for an agreed-upon period of time. Once your monthly payments kick back in, you will required to pay off the past due amount, in pieces or in one lump sum.

• Loan modification. If your income is permanently reduced, your lender may consider changing the terms of your mortgage by reducing your interest rate, lengthening the term of the loan, or adding the past due amount to your loan balance.

For more information on your options, visit the NFCC’s Housinghelpnow.org. The Web site provides a wide array of tools and information for homeowners in danger of foreclosure and can also help you locate a low-cost, certified housing counselor in your area.

— Staff and AP reports