Archive for the ‘Bank Owned properties’ Category

The City of Springfield (OR), along with several lenders, homebuilders and the Springfield Board of Realtors is sponsoring a Homebuyers Fair tomorrow, 11-3 p.m. It will be held in the lobby of City Hall, 225 5th St and also at 20 homes that are open for viewing. I will be in attendance at 2136 15th St., Springfield, along with Laurie Adams, Fairway Real Estate. Read More

Foreclosures and bank owned properties are getting a lot of play in the media right now and many buyers are focusing on these properties, along with short sales while trying to find a great deal on a house. For a change, I want to switch my focus from the buyer (the one I deal with) to the seller because I think there is some erroneous information out there about the difference between a foreclosure and a short sale as it concerns the owner of the property. Read More

 I felt this post was geared mostly toward FHA loans, since most First Time Home Buyers are FHA borrowers, so it is posted in my other blog: FHALoansORegon.com. However, since there is a lot of great information here, I thought I should share the wealth with all of my readers, not just those looking for FHA Loans. I hope you find this information informative. Read More

Tomorrow is the last day of National Consumer Protection Week and the Federal Reserve Board has compiled some items to protect consumers from becoming victims of foreclosure avoidance scams. Reports of mortgage foreclosure scams are on the rise.  Knowing what to watch for and where to turn for help is vital for families who are struggling to remain in their homes.  It’s important for consumers to know that housing counselors and other resources are available at no or low cost to assist homeowners who have fallen behind on their mortgage payments.  One note before we get into the following information, the best and safest way to avoid foreclosure is to make your payments on time. Read More

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Another reason to use an FHA 203k Streamline rehab loan: Foreclosures are bringing down the Eugene/Springfield and Lane County Real Estate market. My reasoning on this has to do with the condition of many of the foreclosed properties. Many of them aren’t livable and may have been vacant for some time. In many areas of the United States, entire neighborhoods sit vacant, havens for crime and an eyesore to surrounding neighborhoods. Although I haven’t seen this scope of a problem here, I do know that there have been cases of squatters moving into foreclosed (or about to be foreclosed) properties and using them as a base of criminal operation. Read More