oregon: Do You Have a Home Equity Line of Credit About to Reset? - 07/22/15 03:52 AM
Home Equity Lines of Credit were a prevalent tool used by homeowners whose equity was growing like crazy in the real estate boom years. Many of these home equity lines of credit were set up with interest only payments for the first 10 years are beginning to reset now.  A homeowner who had been chugging along paying minimum monthly interest only payments of $203 on their $75,000 balance based on the Wall Street Journal Prime Rate of 3.25% with zero margin may now be facing adjustable payments starting out at $527 for the next 15 years in order to pay that … (1 comments)

oregon: Oregon Foreclosure Mediation|Like Many Relationships It’s Complicated! - 02/14/14 02:55 AM
On August 4, 2013, the State of Oregon rolled out its Foreclosure Avoidance Program established by Senate Bill 558. This requires most mortgage lenders to offer foreclosure mediation before they may file a judicial or non-judicial foreclosure in the State of Oregon. A homeowner is notified they have the right to opt into this program, which for a small fee will give them the opportunity to sit down at a table with their lender’s representative and a Facilitator/Mediator, hopefully hammering out an alternative to foreclosure.
The program had some initial bumps out of the gate with a flood of backlogged foreclosure … (0 comments)

oregon: Oregon Home Rescue Program - 08/27/13 02:01 AM
The State of Oregon applied and received U.S. Treasury Hardest Hit Funds due to the extent of unemployment and foreclosure this State's citizens have experienced. The latest program, the Home Rescue Program, has been opened up to applicants who are seeking financial assistance on their home due to a loss of income. If they have fallen behind on their payments, they may not only receive help catching up the arrearage, but also help with making their payments going forward. If you or someone you know is an Oregon Homeowner facing financial hardship, go to www.oregonhomeownerhelp.com for additional information and to apply. … (0 comments)

oregon: Streamline Modifications The New No Income No Qualifying Program? - 07/01/13 04:28 AM
As a housing counselor working with Southern Oregon homeowners facing financial hardship, I appreciate homeowners having options to consider. As with the recent “fixing” of the Oregon Foreclosure Avoidance Program that will now incorporate homeowners facing judicial as well as non-judicial foreclosure filings into the Resolution Conferences, I believe the Streamline Modification option Fannie Mae and Freddie Mac have rolled out is another tool in our chest.
Homeowners in our area are now receiving unsolicited modification offers in the mail! These offers are not based on analysis of the homeowner’s financial situation, which I have some concerns about having seen these … (2 comments)

oregon: Housing Counselor Recommends Gambling to Avoid Foreclosure? - 05/17/13 05:12 AM
Housing Counselors working with homeowners seeking solutions to their financial hardship and alternatives to foreclosure comb through the homeowners’ individual situations. We’ll look at their past, current and possible future circumstances, making several recommendations based on that in-depth review. We’ll make sure those homeowners are aware of resources available in their communities that may help stabilize their household. This might be anything from medical, food, energy assistance, tax preparation, legal services to emergency housing in the event a foreclosure is imminent, in addition to working with Servicer/Investors to find a way to avoid foreclosure on a mortgage. We do some serious … (2 comments)

oregon: Address Negative Equity AND Home Affordability in Oregon - 05/03/13 04:49 AM
Homeowners in Southern Oregon have faced many challenges, one of which for some homeowners has been substantial negative equity. There are many options for homeowners who have experienced financial hardship – i.e. lost their job, closed their business, experienced a reduction in hours/income, facing loss of income as a result of death/divorce. Most of these options will not address negative equity, though.
The State of Oregon recently expanded one of the programs funded by Hardest Hit Funds that assist homeowners dealing with financial hardship by reaching an affordable payment through refinancing to market value. Because this is logistically done as a … (0 comments)

oregon: Really? Door-to-Door Purchase? - 04/22/13 07:04 AM
There have been many instances of door-to-door sales in the Rogue Valley, the stories which I've heard are usually relayed with regret associated with the experience. “Just say no” is not always the easiest thing for some people to do. Homeowners have experienced home repair and remodel sellers who come along with some pretty hard-core tactics, intimidating the homeowner into agreeing to a purchase without checking in to the reliability or validity of the product/service/supplier. I spoke with someone who told me after 3 ½ hours of a salesman in her living room she signed a contract for siding replacement – … (4 comments)

oregon: The Check's in the Mail| Independent Foreclosure Review Check That Is - 04/19/13 07:24 AM
The process for handling homeowners who experienced wrongful foreclosure and deficient mortgage servicing practices - i.e. Robosigning, foreclosure going through on a mortgage that was not in default, foreclsoure for servicepersons protected by poor handing of loss mitigation requests, etc. - changed a LOT with 13 major servicers. It went from requiring application and review by potentially 3.8 million homeowners seeking restitution for there practices, to 13 named servicers self-directing the restitution and reaching out to 4.2 million homeowners.
Homeowners are receiving anywhere from $300 to $125,000 with the vast majority in the lower ranges. I know of someone who recently … (2 comments)

oregon: What’s Happening With Foreclosures in Southern Oregon? (Part 2 of 2) - 04/15/13 09:00 AM
Word came through that the bill proposed to address the issues with our Foreclosure Avoidance Mediation Program – SB 558 - came out of committee and has gone to the Senate for a vote with some proposed changes. Hoping against hope this bill is voted on and passed by both Senate and House Representatives. A lot of hard work and effort have gone into this proposed bill, and huge kudos go out to Sybil Hebb, Kelly Harpster and Angela Martin who all were extremely important in moving this bill forward, working tirelessly toward finding resolutions Oregon homeowners and lenders all need.

oregon: What’s Happening With Foreclosures in Southern Oregon? (Part 1 of 2) - 03/05/13 07:46 AM
There is a lot of reporting of real estate market improvement, economic improvement - shaky statistics and very area specific in my mind. Here in Southern Oregon, we are seeing some glimmers of improvement, too. Just wish it was more...
So many of the people we meet as Housing Counselors at a HUD certified Housing Counseling Agency are desperately trying to find a way to hold onto their home and avoid foreclosure. They have faced death of a spouse, divorce, medical challenges, job loss, business failure…the list goes on. We are a stoic bunch of folks here in Southern Oregon, working … (0 comments)

oregon: Principal Reduction Program for Eligible Oregon Homeowners - 06/19/12 08:09 AM
The State of Oregon began accepting applications on June 18, 2012 for one of the Hardest Hit Fund Programs they rolled out as a pilot program in 2011. This is the Loan Refinance Assistance Program, which essentially is a short sale with home retention for eligible homeowners who have experienced a financial hardship which might be addressed with a lower loan amount which would also address negative equity.
Eligible homeowners whose servicers/investors agree may sell their home to the State of Oregon’s representative, and then immediately buy it back for current market value as established by appraisal. They’ll have a new … (0 comments)

oregon: Good News for Oregonian Homeowners Trying to Avoid Foreclosure - 05/23/12 03:44 AM
There is good news for Oregon Homeowners who are trying to avoid foreclosure. The Oregon Senate and House passed Senate Bill 1552 on March 5, 2012, and forwarded this bill along to Govenor Kitzhaber to sign. Oregon Senate Bill 1552 ends the “dual tracking” of homeowners who were being foreclosed on while attempting to work out an alternative to foreclosure with their Servicer/Investor.
Want Layman’s terms on what this means for the homeowner?:
·         Mandatory Meeting face-to-face with homeowner, lender and mediator to review foreclosure alternatives if homeowner elects this process when notification received ·         Notice of right to … (4 comments)

oregon: Help for Borrowers – Independent Foreclosure Review - 03/20/12 05:24 AM
The Office of Comptroller of Currency and Federal Reserve created a process to help borrowers who were facing foreclosure in 2009 or 2010 with several servicers. This process will help these borrowers who believe they suffered financial injury as a result of errors in the foreclosure process present their case to an independent third party reviewer. These borrowers have been identified and were sent a Notice with clear instructions how to apply to be reviewed.
The borrowers’ greatest chance of obtaining financial restitution will be a clearly documented, supported paper trail they can provide to the independent third party reviewer. Situations … (0 comments)

oregon: 45th Annual Children’s Festival in Jacksonville Oregon Coming July 10-11-12 2011 - 06/14/11 11:31 PM
It’s that time of year again, one that many Rogue Valley families and visitors have enjoyed over the past 45 years. The Jacksonville Children’s Festival held at the Britt Garden County Park is a wonderful family event that every kid enjoys.Not only do you get to experience the many different hands-on activities, but our kids throughout the Rogue Valley come out to show their talents and put on shows for you on the Britt Stage .

An amazing group of volunteers comes together to put this on for Our Children every year, giving the kids … (2 comments)

oregon: The Ultimate Bad Day – The Day I Learned I May Lose Our Home - 05/27/11 04:47 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)

oregon: Have You Been To Sunrise Café and Catering in Downtown Medford Oregon? - 03/05/11 04:12 PM
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)

oregon: Consumer Action in Lieu of Property Disclosure Statement of Bank Owned Property? - 01/23/11 01:13 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)

oregon: Working to Stem the Tide of Foreclosures - Thanks, Senator Merkley! - 01/20/11 04:18 PM
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)

oregon: Time is Running Out to Apply for Oregon's Mortgage Payment Assistance Program - 01/08/11 04:34 AM
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)

oregon: When a Neighbor Crosses the Threshold from Bad to Dangerous – Part 2 of 2 - 10/29/10 07:32 AM
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)

Karen Cooper, Helping Homeowners w/Home Loans in 27 US States (Karen Cooper | Sr Retail Loan Originator ! NMLS # 223305 |    360 Mortgage Group LLC  Austin Texas)

Karen Cooper

Helping Homeowners w/Home Loans in 27 US States

Leander, TX

More about me…

Karen Cooper | Sr Retail Loan Originator ! NMLS # 223305 | 360 Mortgage Group LLC Austin Texas

Address: 11305 Four Points Drive #1-200, Austin, TX, 78726

Mobile: (512) 375-2422

Email Me

Loving the challenge of a career in mortgage|real estate since 1983, keeping up with the progression of changes in this industry keeps one on their toes. What doesn't kill us makes us stronger, right? Here's to a few more decades of strength building!




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