Be Careful of Scams - 03/16/09 11:24 PM
I have answered several phone calls since Obama's new "Making Home Affordable" plans that have been introduced in regards to these two programs on refinancing and modifications. One client in particular said that he received a phone call from a company that will help him with his modification for a fee, of course.
Please be careful and wary of any one that calls you and says that they can help you modify your mortgage for a fee.  Lenders will do this for you for FREE.  It can take a while for this process to happen because lenders do not have all their … (2 comments)

Modification? - 03/04/09 02:59 PM
Mortgage Lenders Urged To Take Part In Housing PlanU.S. bank regulators want lenders to participate in the new program to support home loan modifications,_ in order to ease downward pressure on house prices and foreclosures.
http://www.cnbc.com/id/29508073/
Here are links to several sites to help us understand the highlights of Obama's plan to stem foreclosures and to modify existing loans that may be in trouble.
http://treasury.gov/news/index2.html
http://www.financialstability.gov/
I have some concerns on whether this will truly work or not. 
1.  Lenders are only "encouraged" to participate. It is not mandatory.
2. Do borrowers have to be late currently or just about to be? … (0 comments)

Tax Credit - 03/04/09 02:58 PM
I just received the following information (Thank you Carolyn Jackson, CPA, Salem, OR) in regards to the First Time Home Buyer Tax Credits.  2009 is definitely the year to buy your first home (or a home if you haven't owned one in the last 3 years).   This year the credit will be a true credit and not an interest free loan like 2008.
Expanded Tax Break Available for 2009 First-Time Homebuyers 
 IR-2009-14, Feb. 25, 2009
 WASHINGTON - The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before … (0 comments)

 
Karen2011

Karen Cox, NMLS#117349

Salem, OR

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Landmark Professional Mortgage Company

Address: 1255 Lee ST SE #200, Salem, OR, 97302

Office Phone: (503) 385-4050

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