Oregon Supreme Court Rules on MERS Foreclosures

The Oregon Supreme Court ruled earlier this month in two cases that will have a major impact on how foreclosures are handled in Oregon. For decades most foreclosures in Oregon have been handled out of court.  That is, until a couple borrowers questioned whether or not the Mortgage Electronic Registry System (MERS) could legally file […]

Loan Program for Renovation Purchases

Since 2007 some of the most attractive homes for sale have been bank owned homes.  They are usually heavily discounted compared to other homes for sale but that discount often brings with it a caveat.  Repairs.  It is not uncommon for bank owned homes to need substantial repairs and in many cases those repairs can make it nearly impossible to […]

Bank of America Will Test Mortgage-to-Lease Program

Bank of America announced last week that it will begin testing a new mortgage-to-lease program in Nevada, New York and Arizona.  Under this program borrowers will deed back their homes to Bank of America and in exchange will get a multi-year lease with monthly rent payments at or slightly below the going market rate for […]

Mixed Signals for Housing Market, Part 1

Whether you are an optimist or a pessimist about the housing market there is plenty of data available to support your position.  During my search for what to write about today I came across a number of articles supporting a recovery in the housing market and an equal number of articles suggesting we aren’t out of […]

Chase Bank to Donate 100 Homes to Military Veterans

Chase Bank has partnered with Operation Homefront to provide homes for at least 100 Wounded Warrior, military and veteran families.  The bank will provide the homes from it’s inventory of foreclosed homes while Operation Homefront will administer the “Homes on the Homefront” program. The program will initially focus on placing Wounded Warrior families who currently live […]

A Warning About Earnest Money

Bank owned homes for sale are nothing new in Bend, Oregon or any other real estate market for that matter.  However, we have noticed at least one bank recently that is asking for something unusual.  This bank has two homes for sale in Bend.  In both cases the bank is asking for earnest money to be […]

More Foreclosed Homes in Bend’s Future?

Where are we at with this whole foreclosure mess?  That seems to be the million dollar question lately.  Last year (2011) we saw a 39 percent reduction in the number of foreclosure filings in Oregon from 2010 which for now has been the peak year of foreclosure activity.  So does that mean we are out […]

Foreclosure Review Scam

The Oregon Department of Justice has issued a press release warning home owners to beware of people calling and offering an indepenent foreclosure review for a fee.  The federal government already has an Independent Foreclosure Review program in place and it is FREE.  You can read the full release below.  Here is a link to my […]

Fewer Homes For Sale

  A couple days ago I wrote about how the number of homes for sale in Deschutes County is lower than it has been since April 2006.  It turns out that Central Oregon is not the only area in the country with low numbers of homes for sale.  Realtor.com is reporting that nationwide inventory is at its […]

Walk Away From Your Mortgage?

The housing bubble burst four years ago yet millions of people are still faced with the dilemma of what to do with their homes that are worth less than what is owed on the mortgage.  Should these people walk away from their homes and let the banks deal with the problem?  Should they hang on […]