Diane Mitchell Branch Manager Tel: (541) 882-3320 Fax: (541) 882-3704 Cel: (541) 331-1477 NMLS: 508405         dmitchell@mhmb.com3815 S 6th St, Suite 140 Klamath Falls, Oregon 97603   CONTACT DIANE MITCHELL FOR EXCELLENT SERVICE FOR YOUR LENDING NEEDS !!! ~ HIGHLY RECOMMENDED BY KAREN FOSTER ...   Loan Programs Mission Hills Mortgage Bankers offers a variety of mortgage products and residential financing options.  As a prospective and highly valued applicant we believe you should be fully informed of your residential financing options.  We encourage you to investigate the multiple choices available and to inquire with your Loan Representative as to the loan program options that are most suitable to your specific needs.  The following briefly highlights the programs we currently offer: ... 09/11/2013

 "HALLOWEEN HAPPENINGS" & "HARVEST FESTIVALS" IN KLAMATH FALLS, OREGON  ~ OCTOBER 31, 2012   Hey kids...get into your costumes and get ready for fun!!!  Trick-or-treating will be a happening thing on Halloween at all of the following places... You can start off your Halloween fun by TRICK-OR-TREATING at the Herald and News, located at 2701 Foothills Blvd. in Klamath Falls, from 2:00 - 5:00. And don't miss "TRICKER STREET 2012," 4 p.m. to 7 p.m., on Halloween in the parking lot of Walmart. The parking lot will be transformed for a one-night only ghostly good time for children to trick-or-treat. Enjoy the free barbecue to complete your evening! FOR MORE HALLOWEEN HAPPENINGS, drop by Eldorado Heights... They will host a trick-or-treat event for children from 5 to 7 p.m. at 2130 Eldorado Bl... 10/30/2012

 It’s 10:00 p.m., on a hot summer’s night. Close your eyes for a moment.  Picture yourself soundly sleeping in your safe, comfortable bedroom.  Suddenly, you are awakened by the sound of deafening sirens.  They are becoming closer, and louder, and more numerous… not one, but many.  You frantically pull back the curtains, as red flashing lights, and the sounds of heavy-duty fire equipment appear outside your home…It’s your home, the one with cherished memories and irreplaceable photographs, but most of all, your family and pets. Heart pounding, you rush outside to discover ominous dark smoke billowing from the roof, your front yard swarming with firemen equipped for immediate action.  You watch helplessly and frightened, not knowing what the outcome will be…How could this happen? This ni... 08/20/2012

THE BRATS, BREWS, & BLUES FESTIVAL will be held in Klamath Falls, Oregon, on Saturday, August 11, 2012, from 2:00 - 7:00 p.m., at the Klamath Yacht Club, located at 2700 Front Street.  This year's line up will include "Broadway Phil & the Shouters," "Soul'd Out," & "Half Light Canyon." Also included, will be sailboat rides and a silent auction. Included in the admission price is all the entertainment, a bratwurst dinner, including German potato salad, sauerkraut & trimmings, and samples of locally brewed beers. This event is sponsored by the Klamath Basin Sunrise Rotary Club and the profits will go to Klamath Hospice's "Camp Evergreen," which helps children cope with the death of a loved one. Cost of Tickets: Children under 6 are free ~ Ages 7 to 18: $10 ~ Adults: $20 (for advanced purc... 08/02/2012

The 5th Annual Klamath Blues Festival will be an exciting, fun-filled, musical event that you won't want to miss!!! This popular festival will be held at Veteran's Memorial Park, next to beautiful Lake Ewuana, and will headline nationally acclaimed Mississippi jazz pianist, Eden Brent.  Brent played at the 2005 presidential inauguration and has captured many awards and nominations at the "Blues Music Awards." Great local and regional bands, including "The Fifty Eights," will be performing from noon until 11:00 p.m. On July 28th, the gates will open at 11:00 a.m.  The music will start at noon and continue through 11:00 p.m.  General admission is $20, kids under age 14 will be admitted free of charge.  You can order your tickets online at www.klamathblues.org Don't miss the exciting Klama... 07/22/2012

The Rip City Riders will be hosting their annual "Summer Fun Run," July 13th - 15th, 2012, in Klamath Falls, OR. This will be a fantastic weekend filled with events, live music, door prizes, vendors, hundreds of motorcycles, and a lot of just plain fun!!! With this great annual event, the Rip City Riders raise money for the "Southern Oregon Youth Sports Connection," which enables kids to participate in sports, that otherwise couldn't, and guides them to a more positive lifestyle. They also promote education, safety awareness and programs that prevent child abuse. The Summer Fun Run is open to all motorcycle enthusiasts... no matter what you ride! This event will open to the public starting July 13th at 3:00 p.m., at the Klamath County Fairgrounds.  For more information on times, events,... 07/07/2012

      July 4th in Klamath Falls, Oregon! There are so many things to do to fill up this patriotic day celebrating our independence.   JULY 4TH "FIRECRACKER MILE" RACE This race will start at 4:45 p.m., on the 4th of July, at the intersection of Spring & Main Streets. Registration at 4:15, in the parking lot of Parr Lumber. $8 for adults, $6 for students. Proceeds benefit the Joann Burns Memorial Scholarship Foundation.     JULY 4TH PARADE & "JAMBOREE" Come to the July 4th parade on Main Street, starting at 5:00, for a fun time and great entertainment! Following the parade, there will be a "Jamboree," at Veteran's Memorial Park, at the south end of Main Street, featuring a local rock band, a pie-eating contest, and lots of other July 4th activities, including plenty of food vendors!!!  ... 07/02/2012

  What kind of home can I buy with a  Reverse Mortgage?That is a great question and for the answer we will need to look to the FHA Guidelines regarding suitable property.  Any home that qualifies for forward (traditional) FHA loans will be acceptable for FHA Reverse Mortgage financing.The following eligible property types must meet all FHA property standards and flood requirements: Single Family Homes (1 to 4 Unit)FHA Approved CondominiumsManufactured Homes that meet FHA Standards (permanent foundation on owned land) However not all homes in any of the categories above may qualify.  You will want to work with an experienced reverse mortgage consultant who is familiar with the HECM For Purchase.  Individual lenders may also have thier own stricter guidelines called “overlays”. (Example -... 04/08/2011

SRES Realtors - The HECM “Reverse For Purchase” Can Help Your Clients to Buy Their Dream Retirement Home. HECM stands for Home Equity Conversion Mortgage and FHA defines “HECM for Purchase” as a “R.E. purchase where title to the property is transferred to the senior buyer, which the buyer will occupy as a principal residence, and, at the time of closing, the HECM first and second liens will be the only liens against the property.” Quite a statement! Here are a few reasons to consider an FHA Reverse (HECM) Mortgage for purchase:   Easier Qualifying – Your clients will not have to “qualify” for monthly mortgage payments on the new purchase transaction. A significant detail to senior buyers on a fixed income. * Certain transactions will require some “qualification” – they must qualify for ... 04/03/2011

Southern Oregon Reverse Mortgage Question - Can I get a reverse mortgage if my property is in a trust?   Most of the time the answer is yes. The trust must be revocable and all beneficiaries of the trust must be eligible borrowers. The trustee must have the power to encumber real property (get a loan on real estate).  You will need to provide your lender with a complete copy of the signed, notarized Declaration of Trust, all amendments and Exhibit’s.  The trust will have to be reviewed by the title company and lender to be sure that the proper language is there. Here’s what FHA has to say: "All beneficiaries of the trust must be eligible HECM borrowers at the time of origination and until the mortgage is released [i.e. borrower/beneficiary must occupy the property as a principal reside... 02/21/2011

Reverse Mortgage Question from Klamath Falls - "Sharon, what is MIP?"MIP is an acronym for Mortgage Insurance Premium. It is the cost of the insurance policy that is purchased at the time of funding an FHA (another acronym) loan.  MIP is charged in both forward and reverse FHA loans.  Purpose of MIP Traditionally this insurance protects the lender against a loss on the loan if the home is foreclosed on and unable to sell for the balance owed.  It is all of that and has an additional function in the reverse space.   That function is in the event the lender is unable to fulfill it’s obligations to the borrower, FHA can and will step in to fulfill them. For example, if the bank is unable to make the monthly payment to the senior because a natural disaster shut down their servicing center ... 02/08/2011

  Klamath Falls Reverse Mortgage Question - How Much Can I Borrow?  I’m 66.For an personal estimate on reverse mortgage proceeds, contact a reverse mortgage consultant or a HUD Approved HECM Counselor.  But - based upon rates available today, 2/1/2011 here is a sample scenario that might help to answer your question.   John and Jane Doe are both 66 years old and live in a home valued at $220,000.00.  FHA Reverse Mortgages are availabe for principal residences only. They have a mortgage on their home with a current balance of $120,000.00 and 18 years left to pay.  Their monthly principal and interest payments are $796.00 per month.  A Reverse Mortgage uses 3 factors when determining the amount of funds available to borrowers. Age of the youngest borrower. Current Expected Rate. Appraised... 02/01/2011

  Hello Klamath County! Let’s get started right off the bat with the basics about this often misunderstood “senior loan”. FHA calls their reverse mortgage loan program the HECM -  an acronym for “Home Equity Conversion Mortgage”.  When you hear people talking about a “heck-um” they are talking about a reverse mortgage.  This government insured program enables senior homeowners over the age of 62 to withdraw some of the equity in their home. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement social security, meet unexpected medical expenses, make home improvements and more. You can receive additional free information about reverse mortgages in general by contacting the National Council on Aging at (800) 510-0301 or download... 01/12/2011

There are a lot of real estate schools out there to choose from.  The best choice for an online real estate school is Rowlett Career School.  Captain Wayne Rowlett knows that the secret to passing a state license exam is in knowing exactly what is most important to the regulators and knowing the right information to pass the exam.  Captain Wayne Rowlett has united with the finest fully accredited real estate schools in the nation to bring you the very best online real estate courses for your state at the lowest prices available.  The Rowlett Career Schools first time passing rates meet or exceed any other provider including in-class instruction!  Visit our website at www.RowlettCareerSchool.com and click on the state of your choice.  Our instructors and technicians are available to help... 01/24/2010

Wow, who would have thought it would be so hard to jot down a few thoughts?  I guess that's where Facebook is a good fit for me - something to fit in easily into my schedule. The summer started off slowly, but has gotten busier as it's gotten later into the season.  September looks to be a busy month, but Coldwell Banker did about 33% of the business in August in Klamath Falls!  We are rocking!  Maybe, just maybe, we are beginning to stabilize.  I think we will be doing that most of the rest of the year, and hopefully in 2010 things will begin to improve. This has been a good year for referrals for me - I've given many out to other agents in other areas, I've gotten some from other agents, and my fantastic clients have been busy sending their friends and family to me.  I feel blessed in... 09/01/2009

I was talking/venting with another agent in the office about some of the lack of information in our local MLS lately.  One picture, minimal description, other things that we felt that if the seller knew, they would find a new agent. So, it became a bit of a contest to find the worst offenders in the picture department.  "Look at *****"  "Oh geez, that is bad, couldn't they move the beer cans first?" "Check out *****!" Then I found this gem.  Yep, it is the only picture in the MLS.   08/14/2009

I was chatting with someone recently, and this question was asked.  What is the strangest thing you have found in a house? My friend Brent Thomas, whose bread and butter is REOs, has much more interesting and sad tales than I do about things found in foreclosure houses.  The strangest things I have found are usually more structural than bizarre.  The 1,500 sf house with 6 exterior doors.   The house clients still refer to as the "green house" - green exterior, green roof, green walls, green carpets, green tile, green, green, green.  The big square footage home broken into a bunch of small rooms.  There was the one with the fridge full of take out boxes, literally packed minus a few condiments, and the power had been turned off.  Boy, did we regret opening the fridge! But today, I stumbl... 08/12/2009

It's been an interesting summer, as the market continues to try and find it's balance. I've had a pretty good year so far, considering the challenges we face. As of the end of June, we have 1,013 homes on the market, giving us an inventory ratio of about 20 months. This is an unbalanced ratio, meaning too many homes on the market compared to what is selling. A more balanced ratio would be under 12 months. This tells me we still have some pressure to lower prices and encourage home purchases. Easy enough, but with unemployment at high levels in Klamath County, and people who may generally relocate unable to sell their houses where they are currently living, it is keeping homes on the market much longer than normal. The homes that ARE selling are the very competitively priced homes, compe... 07/20/2009

Sellers, thank you to those that actively help try to sell your house! I held an Open House Sunday for a lovely home in a nice neighborhood,  The owners have moved into their new house, so there are only a few pieces of furniture, some towels and such in the home. Since I have shown this home a few times, I am familiar enough to know it probably will need a little sprucing when I get there to be ready for the open house. When I pulled in the driveway, I was thrilled to see a freshly mowed, weed free lawn.  The driveway and sidewalks were not riddled with large pine cones.  Nice. Once inside, the pleasant surprises continued.  Everything was clean, not a speck of dust or a pine needle anywhere. I just had to open blinds and turn on lights to be ready, which is good, because some people i... 07/13/2009

Awhile ago, I was talking to another Realtor in town that works with foreclosure properties.   He was relating the vandalism and theft from these houses in foreclosure with intricate detail.   When I asked him if he has been contacting the local authorities and he said no.  The waiting, waiting, waiting to have someone who clearly just wanted to write the report and go and the lack of interest in these crimes were reasons cited for not reporting. This topic came to mind again today because an appraiser called me.  He was asking about a property I had recently sold that he may be able to use as a comp.  Question #2 "Was it stripped or vandalized?"  Is it this common for vacant homes to be crime scenes that this is the second question? I understand the reluctance to report theft and vanda... 06/30/2009