Real estate blog entries tagged with note modification by American Pacific Mortgage- Karen Cooper, Oregon & California

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note modification: Have You Encountered Financial Difficulties and You Have An Oregon Bond Loan? - 06/24/09 04:47 PM

I have heard from several Oregon Bond borrowers now who are struggling due to financial hardships, and running in to difficulties due to the owner occupancy requirement and the potential recapture tax provision a homeowner may face on an Oregon Bond loan when they sell their home and their income has … (2 comments)

note modification: A Successful Home Affordable Modification Story! - 06/09/09 12:45 AM

A call came in this weekend from a client I worked with back in 2005. We had worked together on multiple real estate transactions for her in Southern California, and again on the purchase of her move up house in Ventura County.

Due to the timing of this latest … (4 comments)

note modification: Southern Oregon Homeowners, You’ve Heard of Short Sales, But Have You Heard Of Short Refinancing? - 05/05/09 04:31 PM

So, you heard about the really nice low interest rates people are getting on their mortgages, and you thought "hey...I'd like to save money every month to put back in to my budget". You made a call or two, and found out "I'm sorry, Mr./Ms. Homeowner, but we can't help you … (0 comments)

note modification: Riding the Roller Coaster of the Home Affordable Refinance Wave - 04/15/09 09:42 AM

I shouldn't be surprised by the ebb and flow in this business. Real estate markets have always been cyclical, driven by local economic forces and demands. Driven by migration trends related to those demands and forces. Driven by Acts of God. I know this - I've EXPERIENCED these many times over!
But … (0 comments)

note modification: Ready Set GO! Making Home Affordable Programs Readying for April 4th Release - 03/19/09 10:14 AM

We've been hearing a lot about the Making Home Affordable initiatives, and have been anticipating the release of all the details for the Refinance and Modification programs. The website is up and running today, so many of our answers should be provided. If you are struggling on making your payments, whether … (2 comments)

note modification: REAL Help for Struggling Homeowners On The Horizon? - 03/04/09 07:22 PM

Although the Making Home Affordable Program is to be made available to struggling homeowners today, and official announcement went out today from the Federal Housing Finance Agency, the banks and mortgage companies have not yet figured out the details of the Home Affordable Modification or Home Affordable Refinance programs. A call … (2 comments)

note modification: California Homeowners - Looking for Reasons to Hang On Instead Of Throwing In The Towel? - 02/12/09 06:33 PM

So, you are "stuck" with a 6.25% interest rate on your 30 year fixed rate mortgage for $400,000. You are bent out of shape because you really were hoping to refinance in order to get a mortgage interest rate in the 4's, like people you know have done recently. Should you … (0 comments)

note modification: Don’t Forget The Taxes and Insurance And Maintenance Expense! - 02/04/09 11:31 AM

Something I've always made a point of emphasizing with first time home buyers - and with long time homeowners and move up buyers as well - are the "other costs" associated with homeownership. Many first time homebuyers are focused on the principal and interest part of the mortgage payment, and when … (8 comments)

note modification: Beware! Not All Note Modification and Short Pay Negotiators Are The Same! - 12/19/08 06:50 PM

There are options out there for struggling homeowners, albeit only a few truly helpful to these families trying to figure out how to stay in their homes. One program is the Streamlined Modification Program, a legitimate program that represents the efforts of a collaboration with the Federal Housing Finance Agency, the Department … (12 comments)

note modification: Distressed Homeowners Frequently Asked Questions - 11/11/08 04:14 PM

In conjunction with the Blog Post "Distressed Homeowners, More Help Is On The Way", here are some questions and answers:
Q. Can I apply even if I'm not 3 months or more behind on my mortgage payments?
A. Not for this program, but there may be other options available to you. Call your lender … (2 comments)

note modification: Distressed Homeowners, More Help Is On The Way - 11/11/08 04:07 PM

Do you own a home, one you have been struggling with making the payments on? Have you given up hope of keeping your home, and stopped making your mortgage payments? Is it your wish to be able to stay in your home, if only the payments on it were more affordable?
… (4 comments)

note modification: Another Option Coming For Struggling Homeowners in April 2008 - 02/29/08 09:44 AM

In April, Fannie Mae loan servicers will have another option to offer to their borrowers. HomeSaver Advance will be their newest loss mitigation option to look to for delinquent mortgages. The key to this option will be that a borrower can show that the reason that triggered their delinquency - i.e. … (2 comments)

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