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medford: Sorry, Suze, But It Just Isn’t That Simple - 09/24/11 08:46 PM
As a housing counselor here in Southern Oregon working day in and day out with homeowners who have encountered financial difficulties the one common thread I see throughout my day is their stories are complicated!
The homeowners who own property that has been in their families for 100 years – are they going to walk away because when their turn came to take over their family’s American Dream it was at a market peak and they are now sitting at 140% LTV? Or the family who took cash out to build an additional dwelling unit because their brother lost their job … (7 comments)
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medford: The Ultimate Bad Day – The Day I Learned I May Lose Our Home - 05/27/11 11:47 PM
Today was a bad day. A day generating results I really did not expect to have to face. Yeah, I know…”get over it Karen – we ALL have bad days”. I also know that there are many, MANY people out there facing the loss of their home due to circumstances beyond their control. I WORK with and FIGHT for these people every day, but I really did not ever envision finding myself where I am today.
Today was the day I learned that justice can be more blind than we could ever possibly envision – the day I learned … (11 comments)
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medford: Oregon Homeowners Exercise Your Rights Under Senate Bill 628! - 05/20/11 12:48 AM
I have almost 100 active cases in my role as housing counselor for homeowners seeking help with their financial hardship. Many of these cases are for Southern Oregon homeowners wanting to keep their home. Homeowners who have taken the time to investigate the options available to them, and homeowners who need help figuring out what their options are. Many of these homeowners applied for modification of their home loan. When I review the documentation we collect to verify their financial hardship, I see that many of these homeowners appear to be pretty darn good candidates for the mortgage modifications they are … (1 comments)
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medford: Have You Been To Sunrise Café and Catering in Downtown Medford Oregon? - 03/06/11 12:12 AM
We finally made it to the Sunrise Café & Catering at 130 E. Main Street in Downtown Medford tonight, getting to this popular lunchtime destination – but for dinner. This family owned business run by brother and sister, Ed Chun and Carol Hendricks was worth the wait. Having experienced the delectable Kalbi Tri Tip Special and a sampler platter, with some of the most tender, flavorful meats we’ve tasted (pulled pork, teriyaki beef AND chicken - YUM!), we’ll be back to see the friendly, personable Ed and Carol again very soon. Dinner for two with drinks came to just over … (3 comments)
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medford: Consumer Action in Lieu of Property Disclosure Statement of Bank Owned Property? - 01/23/11 09:13 AM
What would happen do you think if homeowners who have encountered financial difficulties that they are unable to resolve with their bank and its investors did their own Property Disclosure Statement and notified their bank/investors, surrounding neighbors, banks’ listing agents and State Real Estate Agency when the property reverts to the bank? Maybe posted it publicly in case buyers are considering purchasing the home on the court house steps at the Trustee Sale or delivered it by attending the sale themselves?
Since the banks and their investors like Fannie Mae, Freddie Mac, HUD and other institutions are not required by … (7 comments)
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medford: Working to Stem the Tide of Foreclosures - Thanks, Senator Merkley! - 01/21/11 12:18 AM
Obviously, this message is close to my heart. I see the people affected by this crisis every day, and not just at my job. I see them at the grocery store, in church, at the park...their kids go to school with mine. Who doesn't know a homeowner that has been affected by the economy and foreclosure crisis? Especially those working in industries directly affected - construction, real estate, finance?
Merkley works to stem the tide of foreclosures | MailTribune.com www.mailtribune.com Way to go Senator Merkley and team! It was great to meet you in person to be able to thank … (8 comments)
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medford: Time is Running Out to Apply for Oregon's Mortgage Payment Assistance Program - 01/08/11 12:34 PM
Oregon was one of the states awarded money to help its communitites suffering from high foreclosure and unemployment rates. One of the programs Oregon designed was to help eligible families pay their mortgage payments - up to $20,000 or 12 months, whichever is less. Jackson County Oregon was given 276 slots for this program by the State of Oregon and Josephine County was given 216 slots. Once the deadline passes on January 14th for online applications (January 15th for in person ones), the State will hold a random drawing for each County that was awarded slots for this funding. In Jackson … (2 comments)
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medford: When a Neighbor Crosses the Threshold from Bad to Dangerous – Part 2 of 2 - 10/29/10 02:32 PM
We went up to introduce ourselves a few months ago to new neighbors on the street behind ours when we heard sounds of a backhoe running in our hillside neighborhood. This property had an additional dwelling unit built on it a while back, which we didn’t think too much about – until we started having signs of destabilization on OUR property. Next thing we know, the ADU is torn down by the new owners, and we know there are issues. When that backhoe fired up, we went straight over to see if they were digging, and to let them know we … (9 comments)
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medford: When a Neighbor Crosses the Threshold from Bad to Dangerous – Part 1 of 2 - 10/29/10 02:19 PM
The real estate market in Southern Oregon has a high percentage of foreclosure homes working their way through the inventory. One of those bank owned homes sold earlier this year on the street behind ours. We were sad to hear another local contractor had lost their home in this bad economy we are all struggling through. Maybe the new family will come with children that will be friends of ours…we hope for good, compatible neighbors every time one of the surrounding properties changes hands. We all want good neighbors, right?
We used to have a family next door to us, … (6 comments)
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medford: What to Do When Your Bank Stonewalls Your Modification Request | Tips From A Housing Counselor - 09/30/10 01:35 AM
Applying for a loan modification when your world has been turned upside down and you are facing financial hardship can be difficult and frustration, to say the very least.
The recommendations I have for you if you are encountering “we lost your paperwork”, “your request was denied”, “you didn’t respond to our request in time”, etc. is to do the following:
· Request to have your financial hardship package transferred to “the Office of the President” at your servicer (every servicer has a division set up for “special cases”, although the name of the division may vary slightly from … (4 comments)
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medford: Requesting Loan Modification or Forbearance for Financial Hardship | Tips from a Housing Counselor - 09/24/10 02:14 PM
So, you have lost your job or have seen your income reduced. You’ve taken a look at your budget, and you know that as hard as you have worked to cut “non-essentials” from your expenses, there just isn’t enough money to cover your basic living expenses AND your mortgage. Maybe you have sat down with your local non-profit certified housing counselor and they’ve given you more tips and ideas, but you just aren’t going to be able to make your mortgage payments with the money you have available to you. You REALLY want to keep your home, but just won’t … (7 comments)
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medford: Can You Afford to Keep Your Home? | Tips from a Housing Counselor - 09/22/10 06:26 PM
Next to the ultimate F word in real estate, Foreclosure, the B word probably sounds almost as bad to many people. The Budget…that first step required in determining what options are available if your find yourself experiencing financial distress. As housing counselors, it is something we focus on in detail to help determine if the goal a homeowner has set may be attainable.
The Budget – it’s really amazing how many homeowners | families don’t have one.
Every lender will require that a financial worksheet – i.e. Household Budget – be turned in so they may see if … (6 comments)
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medford: When Best Laid Plans Go Awry | Tips from a Housing Counselor - 09/22/10 12:24 PM
For some, the American Dream of Homeownership has gone drastically awry. The days of anticipation of closing on that dream home seem long ago to them. Today, focus may be on getting food on the table and keeping the lights on. Maybe this is because of bad decisions made along the way, but more often it is because of job loss, reduced income, medical bills – situations beyond their control – and/or revolving debt accrued to keep payments up and cover budget gaps.
Along come the Making Home Affordable Programs and Hardest Hit Funds to help struggling homeowners hang on … (3 comments)
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medford: Where Are Home Prices Going? - 08/22/10 05:15 PM
I believe John Mulkey hit the nails on the head making his points in this article. What we are facing today in our local markets and economies did not happen overnight. Nor will the recovery...
Via John Mulkey, Housing Guru (TheHousingGuru.com):
We’ve all heard the news reports about the potential for a double-dip in housing, and perhaps, the overall economy. Unemployment seems out of control; debt levels are becoming unmanageable; and many are wondering what the future holds for the housing market. Where home prices going and what is the potential for prices to recover to the levels of 2005/2006?
… (1 comments)
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medford: The Reality of the Hunt - 07/31/10 03:39 PM
We look at this trophy we now have. It wasn’t long ago we were filled with trepidation, determined to make a go of reaching our goal. We spent time preparing, educating ourselves, readying for this new, big adventure. Then the hunt was on. It was a tough hunt, an endless search for just the right prize to bring home. We were so nervous…so determined. Hours and hours we looked for you. Once, we had our prize in our sights only to lose you to fellow hunters, hunters who entered the hunt earlier, who were quicker and more prepared than us. Patience … (0 comments)
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medford: Who Needs To Win The Lottery To Get A Down Payment? - 07/24/10 07:11 PM
With today’s first time home buyers needing to come up with more cash at closing, you may be thinking the only way you are going to have the American Dream and own your own home is if you win the Lottery. If you are like roughly 50% of the folks in your area making your area median income or less, chances are pretty good you find yourselves living check to check. Putting away thousands of dollars to make a down payment on a home and paying closing costs may seem like a pipe dream to you.
Ain’t gonna happen, huh … (5 comments)
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medford: Hidden "Costs" - Refinancing from a 30 Year to a 15 Year Fixed Rate Mortgage - 07/23/10 02:07 AM
Are you thinking about refinancing from your 30 year mortgage in to a 15 year fixed at today's REALLY AMAZINGLY LOW INTEREST RATES? You aren't alone if you are. Most people pick up the phone when they are headed down this path and ask "what's your rate?". In today's world, you very well may find many inexperienced loan officers who will spout off an answer to that question without going in the myriad of other variables that might need to be explored.
What's your rate? Isn't going to cut it! Even adding "how much are the closing costs?" to the equation … (6 comments)
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medford: 15 yr vs 30 yr mortgage - 07/23/10 01:55 AM
With all the focus on declining equity we are seeing in many housing markets, it brings up the focus on considering a shorter term mortgage than homeowners typically choose. In my 27 years, a LOT of my clients have chosen the 15 year mortgage, often times through refinancing. They may have needed the lower payments in order to be able to afford/qualify for the pricing they were finding in the real estate markets they bought in, so they got in to the home and qualified on a 30 year mortgage, waiting for great interest rate opportunities like we are seeing … (9 comments)
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medford: Have You Been To Pomodori Ristaurante in Medford Oregon? - 07/21/10 01:08 AM
Mamma Mia, what a meal we had tonight at Pomodori Ristaurante in Medford Oregon! If you haven’t been to this wonderfully fresh and invitingly unique Italian restaurant right here in our little corner of the world, you are so missing out.
We started off with the Caesar Salad that has of very generous proportions with a great flavor. From there, we went straight to the Seafood Pomodori for my husband and I ordered the Ratatouille Ravioli from the special menu. The sauces on these two dishes were fresh, flavorful and very unique – a great heat in the Pomodori from … (2 comments)
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medford: So Much For Transparency, FHA! - 07/21/10 12:34 AM
There have been several proposals on the agenda for the FHA loans. Some may call it a Hidden Agenda vs. the transparency most of us have so desperately been seeking in the mortgage industry. When FHA proposed an increased down payment to meet the wishes for those wishing buyers "have more skin in the game" to create a more stable housing market, I was happy to hear this idea had been shot down. It seemed it had been recognized that increasing down payment requirements for the target population, homeowners seeking affordable housing, would not be best served by this change. A … (4 comments)
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Karen Pierce Cooper
Medford,
OR
More about me…
Karen Pierce Cooper| Housing Counselor |Oregon
Address: PO Box 4126, NMLS#223305 , Medford, OR, 97501
Office Phone: (541) 779-6691
Email Me
Bringing 28 years of experience providing Southern Oregon and California Home Buyers and Homeowners | Serving all of Jackson County Oregon including Ashland- Talent- Phoenix- Medford-Jacksonville- Ruch- Central Point- White City- Eagle Point- Shady Cove- Gold Hill, as well as Josephine County including Grants Pass- Merlin- Wilderville | Helping Southern Oregonians on the road to fulfilling the American Dream of Homeownership - and staying there! ,
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