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Oregon Foreclosure Information

Thursday, July 15, 2010
by Liz Warren

The National Association of Realtors has published some interesting information on Oregon foreclosures for 2009. Our state has been in the news recently at number three in the country for foreclosures. Here is the breakdown of home ownership and home foreclosures based on the type of loan the homeowner received. Prime loans are the biggest percentage of foreclosures in 2009 reflecting the high unemployment rate in Oregon.

See Mt. Hood Area Foreclosures here

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Lowest Interest Rates Since 1971!

Friday, June 25, 2010
by Liz Warren

That is right. Read the headline! These are the lowest interest rates since 1971! We are talking nearly 40 years.

Average 30-year home loan rates : 4.69 percent

Average 15-year mortgage rates are just 4.15 percent

Buy now or take advantage of a refi. These are unbelieveable rates!

 

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Mt. Hood and Oregon State Numbers of Foreclosures

Saturday, May 1, 2010
by Liz Warren

Have you ever heard of www.responsiblelending.org? This group tracks delinquencies and foreclosures and how the mortgage crisis has impacted Oregonians. Here are their numbers. 

Oregon Delinquencies and Foreclosures

The average loss per home in the state of Oregon is $8,442 in equity. You can check other state losses at the web site. The average loss in New York is around $37,000! In Florida it is $81,000. In California it is $51,000. So at this point, Oregon has faired decently compared to many other states. That number could increase as we see the foreclosures hit the market for 2010.

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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.

 

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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.

 

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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!

 

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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.

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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.

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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.

 

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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.

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Displaying blog entries 321-330 of 405

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