Category Short Sales

Bend Real Estate Market Update Q3 2014

At the end of September 2014, there were 657 single-family homes for sale, 367 pending sales, and 1,668 homes sold through the third quarter of 2014. Bend, Oregon home values continue to rise. From this time last year, market wide, the average sales price increased 8.19% to $342,627 and the median sales price increased 7.22% to $288,371.

Fannie Mae short sales must be actively listed in MLS for 5 days

On June 19, 2013 Fannie Mae released new guidelines that will require homes for which they guarantee the loan to be actively listed in the MLS for 5 days, including one weekend, before being considered for a standard short sale or HAFA II short sale. Servicers are being encouraged to implement this guideline now but […]

Can I make offers on multiple short sale listings?

This is a common question from homebuyers. Because it takes so long to get a response from the seller’s lender after submitting an offer, many buyers are reluctant to just sit around and wait for 3-4 months. Some buyers choose to make offers on several different short sale listings, and then when they get a […]

Banks must meet with delinquent borrowers before foreclosing

On June 3, Governor John Kitzhaber signed SB 558 into law. SB 558 closes the loophole that allowed lenders to avoid mediation with a borrower facing foreclosure if the lender intended to foreclose judicially.

Mortgage Forgiveness Debt Relief Act Extended Through 2013

Many homeowners and those of us in the real estate and mortgage industries were practically holding our breath while we waited to learn whether the Mortgage Forgiveness Debt Relief Act was going to be extended. We can finally exhale because on January 1, 2013, the fiscal cliff deal extended it for another year. The extension […]

Staying current during short sale won’t necessarily save your credit score

BY KEN HARNEY, TUESDAY, OCTOBER 23, 2012 INMAN NEWS Without some last-minute gymnastics, underwater homeowners participating in Fannie and Freddie’s ambitious new plan to allow short sales by borrowers who haven’t missed a loan payment could see their credit scores dented just as severely as if they’d gone into foreclosure after months of nonpayment. For the […]

New State Website Offers Help for Homeowners

By Tim Doran / The Bulletin Published: September 20. 2012 4:00AM PST Homeowners dealing with foreclosure can find information and help from a new state website, oregonhomeownersupport.gov, the state announced Wednesday. Funded by money Oregon received in a settlement with the nation’s five largest mortgage servicers, Oregon Homeowner Support serves as a hub, providing a variety of foreclosure information at […]