Real Estate Information Archive

Blog

Displaying blog entries 331-340 of 412

Clackamas County Credit Conditions

Monday, March 15, 2010
by Liz Warren

There's lots of credit information/conditions getting tracked by the Federal Reserve Bank of New York. Not only do they track mortgage information but credit card delinquencies, student and auto loan delinquencies and more!

Here are some interesting statistics for Clackamas County from this site:

* 4.2% of all mortgages are delinquent at 90 days or more

* 5.3% of Jumbo mortgages are in foreclosure

* 1.6% of prime loans are in foreclosure

* 1.9% of FHA and VA loan mortgages are in foreclosure

* 92.7% of prime loans are current!

* 9.1% of student loans are 60 days delinquent

If you'd like to check out other Oregon counties or states, visit this web site.

 

Add Comment

Loan Modification Fraud Alert

Sunday, March 14, 2010
by Liz Warren

Fraud Alert: First there were inflated appraisals, fake buyers, and escrow fraud as the market was screaming hot in real estate bubble times. Most fraud was directed at financial institutions.

Times have changed and so have the fraudsters. They have turned to owners who are in trouble financially with mortgages. You must be aware of loan modification and foreclosure scams that are running rampant throughout the counrty.

The California Department of Real Estate has put out an information document that can be found HERE that explains seventeen items (starting on page 5)  to look out for concerning Loan Modifications offers that may be fraudulent.

 

Add Comment

Mt. Hood First Time Home Buyers

Thursday, February 25, 2010
by Liz Warren

If you are a first time home buyer and made a purchase last year or this year you need to know that the IRS will not accept electronic filing of your taxes. After over 90,000 fraudulent claims, according to the Treasury, the IRS is changing the filing requirments. Here is information from the IRS' "First-Time Homebuyer Credit" page online.

The IRS has created form 5405. Check the rules and requirements to get this tax credit on the First-Time Homebuyer Credit page above to be sure you qualify.

Did you know that if you sell your house within three years of purchase you may have to pay that tax credit back?

If you have not made your first time home buyer purchase, you have until April 30th to have a binding contract in place and you MUST close by June 30th, 2010!

 

Add Comment

Mt. Hood Condo Price Reduction $15,000!

Tuesday, February 23, 2010
by Liz Warren

No Misprint! 

Now ONLY $100,000!

$15,000 PRICE REDUCTION on Resort at the Mountain Condo (Fairway Estates Unit). Enjoy the recently renovated Resort at the Mountain upgrades! Steps to golf course and minutes to skiing. Only ONE HOUR from Portland. Quit driving all weekend to the slopes and stay at your mountain condo.

Play VisualTour
Add Comment

Oregon Foreclosure Update for 2010

Sunday, February 14, 2010
by Liz Warren

Oregon is currently ninth in the nation in foreclosures according to a leading foreclosure site RealtyTrac. Here are the numbers and charts:

Take a look at this map of Oregon to see the foreclosure meter.

 

What areas have the highest foreclosures according to RealtyTrac for January 2010? Here is a chart showing where they are:

 

For information on foreclosures in our Mt. Hood area of Government Camp, Welches, Brightwood and Rhododendron, check available properties here.

Add Comment

Mt. Hood First Time Home Buyers

Saturday, February 6, 2010
by Liz Warren

If you have not owned a home for the past three years you qualify for potenitally receiving $8,000 tax free from the Feds and getting the lowest interest rates in over 60 years for your mortgage!

Where to start? Get in touch with a lender to see if you can qualify to purchase a home! Do it now! Most buyers with a credit score of 620 and above will have no problem in qualifying. There are many loans for our area that may work for you. There's the USDA loan with zero down payment-yes our area from Brightwood, Welches, and Rhododendron qualify for this program! There's also FHA which will require a 3.5% downpayment.

Here are some homes that may work for the first time homebuyer. Click on the home for additional details on that property and you can visit this page for details on the program.

 

Add Comment

A quiet event that will have a BIG impact on real estate

Monday, January 4, 2010
by Liz Warren

Here is a quiet little tidbit of information that happened over the holidays that will have a huge impact on real estate for the next couple of years. The Treasury Department will now give unlimited funds to Freddie Mac and Fannie Mae over the next three years. Previously their commitment was only 200 billion each but the Obama Administration made the change over the holidays.

What does this mean for real estate?

These two companies fund at least 50% of all home sales in the United States. This will keep the money flowing for sellers to sell their homes and buyers to have funding for purchases. By being backed by the Treasury this should keep interest rates lower because Freddie and Fannie can get better lending rates.

Here is the biggie-both companies will offer loan principal forgiveness to delinquent and underwater home owners. This will help many people in foreclosures and prevent the “walkaway” syndrome where some owners are turning in their keys leaving the home for Freddie and Fannie to take losses.

Hopefully this new policy will have a greater impact than the Home Affordable Modification Program which has had minimal effect up to this point.

Add Comment

Mt. Hood Distressed Homeowners!

Saturday, January 2, 2010
by Liz Warren

Do you need help with a distressed mortgage in Government Camp, Welches, Brightwood or Rhododendron? If you are looking for help with a federal mortgage modification plan here is a great place to start. This two part video is made by PMI- the mortgage insurance company. These videos expain HAMP, Home Affordable Modification Program. 

 

Scroll down to see part 2 of this video in the NOW PLAYING section above.

Add Comment

Mt. Hood Home Values

Friday, December 18, 2009
by Liz Warren

How do you decide what to do when you are underwater on your mortgage payment? Do you go for a short sale, deed in lieu of foreclosure, Just walk away, what do you do? Probably the number one thing to do is talk to an attorney! Find out the implications and financial obligations any choice will give you in these turbulent times.

Here is a web site that was recently put up which may help you figure out what to do prior to visiting your attorney for advise. Visit www.payorgo.comto plug in the numbers. This is not a site with legal advise but if you want to play around with numbers and different senarios of future value, it might help.

Add Comment

Mt. Hood FHA Loans to Tighten!

Monday, December 7, 2009
by Liz Warren

If you are contemplating using an FHA loan for your purchase in Welches, Government Camp, Rhododendron or Brightwood, take note! HUD secretary Donovan is promising in 2010 qualifying for an FHA loan will tighten up with credit qualifications and higher fees.

Changes may include the following:

1. A higher downpayment requirement from 3.5 to 5%.

2. Seller paid closing costs reduced from 6% down to 3% of the loan amount.

3. Higher mortgage insurance premiums! Currently 1.75%

4. Higher credit standards.

Bottom line, look for 2010 to cost a buyer even more to get a loan with stricter guidelines.

If considering purchasing a home now, get your application in before things tighten up even further.

 

Add Comment

Displaying blog entries 331-340 of 412

Syndication

Categories

Archives