Eugene Loan Guy

Archive for September, 2009

Your Mortgage Advisor (or loan officer, or mortgage planner, or loan consultant, etc.) will be your guidepost in what you can and may pay for a home. The mortgage advisor will determine the kind of program that you qualify for to become an Oregon First Time Home Buyer, so it is important you chose your mortgage advisor carefully.As a mortgage advisor, I will weight your specific circumstances (income, credit, and down payment) with your needs and desires and recommend the best loan package for you. There are many steps in a successful loan application and it starts with the application and interview. For instance, just because you might qualify for a $300,000 house, it doesn’t mean that you will be happy with the payment on this much home. That is where getting to know you and what you are trying to accomplish is so important in the process. The process ends when the loan is funded, but the relationship doesn’t end there as I keep in touch with you over the years to make sure you are still in the best product available. Read More

New rules governing foreclosures that take effect today were announced in a news release from the Department of Consumer and Business Services. The new law is designed “to help families stay in their home during this difficult economic climate.” This law requires lenders to meet with borrowers facing foreclosure, either in person or by phone, and evaluate whether they qualify for a loan modification.A loan modification could help borrowers lower their monthly payments and keep their home. “Oregonians are confronting a number of challenges during this economic downturn, including a growing number of families at risk of losing their home through foreclosure, Said Governor Ted Kulongoski. “By requiring lenders to meet with the homeowners, this law provides Oregonians another avenue to avoid foreclosure and stay in the home they worked so hard to attain.” Read More

So, who are the key people in a Eugene/Springfield Oregon area home purchase for a First Time Home Buyer? I am going to answer this question in an eight part series, so you will have to wait till part 8 before you know who they all are. But, now I am going to start with NUMBER ONE: The Real Estate Agent. Also, it is important that this be done shortly to find and close on a home before the tax rebate deadline of November 30. Read More

This question still seems to be bugging a lot of people. If you listen to Realtors® or mortgage lenders (like me) or builders, or a myriad of other pundits, it is the ideal time to buy a new home in Eugene or Springfield or Cottage Grove or Creswell or Veneta or Florence or Oakridge or any other town or city in Oregon. Overall, it think that they are right, however, in some cases, now is not the time to buy a new home. Read More

The Pathway To Your New Home Read More

OK, I will admit it, Abe Lincoln and I learned how to write using slate boards and chalk. However, old as I am, I have tried to keep up with technology in my profession and have been using the online processing and underwriting systems since they came out. However, today I have come up against a challenge. That challenge has to do with a power outage that has shut down our corporate servers and left me to fend for myself as far as working on a new loan application. Read More