For people in the State of Oregon . Please join us on this informative call and invite others who have lost their home and want to repurchase a new home. Also invite anyone you know that is considering a short sale. Sometimes they are a good idea, sometimes not. 1) Judicial foreclosure: Options to address it Buying time Pushing back for principal and interest reduction with an attorney 2) Exit strategies: When they make since and how to get as much as possible on the way out the door and illiminate unsecured debt Short sales - (Project REconomy can do these when they are a smart move) Bankruptcy 3) Shortsale Buy Backs: Available in 5 counties now 4) Rebuilding after an exit: Sometimes a different home is more affordable and suits our needs better. New loan options for repurchasing Local Bank Fresh Start Loan Can purchase immediately after major negative "economic event" Need 20% down and get current mortgage rate Live in regions of the state that Bank of the Cascades has branches (Bend, Southern Oregon, Salem, Greater Portland area) Current on all other debts and on time payments for the past 12 months Need 680 or above credit score FHA Back to Work allows the following: · May be able purchase a home only 12 months after a major negative “economic event” beyond your control which resulted in at least a 20% loss of income · Can have had a foreclosure, pre-foreclosure sale, deed in lieu of, or bankruptcy · 3.5% down and rate and terms are the same as though you had perfect credit · Must prove you have made your payments on time for past 12 months · Must take a 1-2 hour online homebuyer course Date: Thursday evening September 26th Time: 7:00 to 8:00 pm Phone call in: 805 399-1000 access code: 926706
Posted on: Thu, 26 Sep 2013 15:43:48 +0000
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