Have you heard about the Oregon Homeownership Stabilization Initiative (OHSI) , The state of Oregon is working on a program to help homeowners stay in the their home. the State of Oregon.  Oregon has received full Treasury approval for this innovative approach and has budgeted $10 million dollars for loan acquisitions with a first batch expected to close in summer of 2011. Stabilized mortgages will be refinanced so that the money can be possible reused and more families helped. The goal of the project is to assist 330 families over the next several years  If you have questions please give me a call  and let’s talk and I can help you through the process to see if you qualify.

Another way to enter the Oregon program is through a short sale. If the lender is willing to consider a short sale, qualifying families may work with Further Development and a local Realtor of their choice to negotiate a short sale of the home to Further Development. All homes purchased in this fashion will be immediately resold to the current borrower at the current value of the home with 30 year financing provided by the State of Oregon. This option is designed to help families whose lenders are unwilling or unable to sell loans, but would participate in the program

To read more information on this program;

Loan Refinancing Assistance Pilot Project

Piolt Short Sale Program

Oregon Homeownership Help

Thinking of short selling or not sure what do here are a couple websites to check out;

Know your option by Fannie Mae 

State of Oregon and Foreclosures 

On Nov. 18, 2011, at the request of NAR and the American Land Title Association (ALTA), Freddie Mac amended its policy regarding its mandatory short sale affidavits.

The purpose of the affidavit is to prevent fraud by requiring the buyer, the seller, the real estate brokers, the escrow/closing agent, and any transaction facilitator to make various certifications (including that the short sale is an arm’s length transaction and the buyer will not resell within 120 days unless there are substantial improvements). Servicers are required to implement the changes by Jan. 1, 2012, but are encouraged to do so immediately. Each servicer covered by the policy must update its forms to comply with the revised policy.

 To read more http://www.freddiemac.com/singlefamily/news/2011/0906_ala.html

Keep up with what is going on with the local real estate on facebook at Shannon Hall-D & D Realty Group LLC-Principal Broker, push the like button on the left hand side

Do you want to stay updated on the local trends?

Sign up for monthly newsletters today;

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,476 Oregon properties in November, down 34 percent from the previous month and a 13 percent drop from the level reported in November 2009, according to the latest RealtyTrac^® U.S. Foreclosure Market Report.  

Foreclosure filings were reported on 262,339 U.S. properties in November, a 21 percent decrease from the previous month and a 14 percent decrease from November 2009, according to the RealtyTrac November 2010 U.S. Foreclosure Market Report™. “Foreclosure activity decreased dramatically in November,” said James J. Saccacio, chief executive officer at RealtyTrac. “Fallout from the foreclosure robo-signing controversy forced lenders and servicers to hit the pause button on many foreclosures while they scrambled to revamp their internal procedures and revise or resubmit questionable paperwork. complete story