Eugene Loan Guy

Archive for the ‘Loan Modification’ Category

I have posted answers to questions about mortgage items in the past and today, I have chosen one that is interesting to me and hopefully to others. This one has to do with a jointly held mortgage when the people are no longer joint. This can happen anywhere, not just in the Eugene/Springfield Oregon area. Here is the question: Read More

I was reminded of the number of scammers out there yesterday when my cell phone rang and an automated voice told me that I was eligible for a lower interest rate on my credit card(s), all I had to do was press 9 and someone would help me. Now how do I know this was a scam? Well, I pressed 9 and after hearing the spiel from the guy on the other end, I asked if he was affiliated with my current credit company. His answer? Dead air until he hung up without a response. Read More

I just read an interesting article by Thomas Oliver in the Atlanta Journal Constitution about how Realtors®, Mortgage Bankers and Mortgage Brokers were all in favor of extending and/or expanding the First Time Home Buyer (FTHB) Tax Credit. I agree, I think extending it is a great idea. I think expanding it might be helpful, but am concerned about the increasing cost and am withholding judgment on that one. 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

I have expressed my opinion before as to what I think about loan modification companies. I have also published instructions in what to do to avoid foreclosure, that doesn’t include calling a loan modification company and paying them money up front to do the same things you should be able to do yourself. Read More

I don’t just read my blog, I also try to keep up with other people in the Real Estate Industry that know what they are doing and talking about. One of the people that I follow on a regular basis is Todd Clark, a super Realtor in the Portland Oregon marketplace. Todd has good information, especially when you look at what he has to say about the Portland area. He is a real promoter of Portland and in turn Oregon. Read More