Treasury sets guidance to simplify “short sales”
Filed Under Real Estate News, Sellers · Tagged: Home Affordable Foreclosure Alternatives Program, Reuters, Short Sales, US Treasury
By Al Yoon Al Yoon – Mon Nov 30, 6:58 pm ET
NEW YORK (Reuters) – The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed “short sales” of homes and other loan modification alternatives to stem a rising tide of foreclosures.
The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for completing short sales, a growing practice in which a lender agrees to accept the sale price of a home to pay off a mortgage even if the price falls short of the amount owed, according to an announcement on the Treasury’s website.
Guidelines address barriers that have often sidelined short sales by setting limits on the time it takes a bank to approve an offer, freeing borrowers from debt and capping claims of subordinate lenders.
This is great news for anyone who has been struggling to make their mortgage payments or who simply needs to sell at a time when their home is no longer valued at what they owe for one reason or another (refinanced, surprise relocation, divorce, etc.). If you’re in a short sale situation but have been just hanging on, this may be your opportunity to get out. Maria and I would be happy to help you with this process and help you get moving towards a brighter future.
~Kori
Choose Local – The Oregon Local’s Loyalty Card!
Filed Under Just For Fun, Local Events, Local News, Our Community · Tagged: Choose Local, Locally Owned Portland Businesses, Oregon Property Team, Support Local Business, Why Choose Local, Why Shop Locally
The other night I was watching Live @ 7 on KGW, the new nightly news magazine that looks specifically at local events and topics. Last week, they introduced me… a local girl and business owner… to a new “discount” card called Choose Local.
The card is FREE to the community and can be picked up at any of the participating businesses and then activated at the Choose Local website.
Please note: currently, the site does not fully function with Internet Explorer 7+ but if you click on the embedded links, you’ll go directly to the specific page or you can view the fully functioning site using Mozilla’s Firefox browser.
Get discounts on entertainment, home & garden, shopping, bars & nightlife, restaurants, travel & tourism, health & beauty, services and wine & brew businesses from Portland to Eugene.
So why is it so important to “Choose Local”?
Did you know… for every dollar you spend with a locally owned business 70% of that dollar goes back into the local economy. When you spend a dollar at an out-of-state owned business 60% leaves the state. The more money that stays within our community the better off we all are by creating our own local economic stimulus package – more money that stays in our community the greater number of jobs that also stay in our community.
So, let’s support our local business owners and help stimulate our economy by Choosing Local this holiday season and throughout the year!
~Kori
