News and Events

By February 24, 2014 0 Comments Read More →

Multnomah County Foreclosure Panel Publishes Consensus On Common Issues

Attorneys and pro se homeowners appearing in judicial foreclosure cases in Multnomah County should take note of the Consensus of Judges on Multnomah County Foreclosure Panel. The Consensus is a non-binding set of “rulings” of the foreclosure panel that represent the consensus view of the judges who serve on the panel. The Consensus is intended […]

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By February 14, 2014 0 Comments Read More →

New Mortgage Modification Scam Sweeping Florida

Law enforcement is calling a new Florida loan modification scam one of the most sophisticated mortgage scams yet. Borrowers receive an authentic-looking modification offer in the mail. The offer includes detailed information about the borrowers’ loans culled from publicly available foreclosure documents and promises favorable terms, like reduced payments and principal forgiveness. All the borrower […]

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By January 31, 2014 0 Comments Read More →

Advocates Request Additional Funding for Oregon Housing Counselors

Oregon’s foreclosure rate remains higher than the national average and our housing recovery continues to limp along. In fact, one group recently gave Oregon’s housing market a “D.” The best tool Oregon has to reduce foreclosures? The revamped foreclosure mediation program, officially known as the Oregon Foreclosure Avoidance Program (OFAP). Since the program launched in August […]

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By January 31, 2014 0 Comments Read More →

CFPB Update on Mortgage Servicing Rules: February 10 in Tigard

The Consumer Law Section of the Oregon State Bar is sponsoring a half-day CLE for attorneys, housing counselors, and foreclosure mediators who want to learn about the new federal mortgage servicing rules that went into effect on January 10. According to the CFPB, the rules “establish new, strong protections for struggling homeowners, including those facing […]

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By November 22, 2013 0 Comments Read More →

Two Banks Partner With Oregon Company to Offer Reemployment Program for Delinquent Homeowners

M&T Bank recently joined Fifth Third Bank in offering a reemployment program for homeowners who are struggling to pay their mortgages due to job loss. The program is operated by NextJob, Inc., a nationwide reemployment company headquartered in Bend, Oregon. Early this year, Fifth Third announced that it was partnering with NextJob to provide unemployed […]

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By November 18, 2013 1 Comments Read More →

Businesses Back Bank Blight in Portland, Communities Suffer

Earlier this year Representative Lew Frederick (D-Portland) sponsored a bill that authorizes cities to prohibit purchasers at foreclosure sales from neglecting the properties while vacant. After the bill became law, Portland Mayor Sam Adams created a plan to register vacant properties, but the Portland Business Alliance objected and the city council never approved it. Apparently […]

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By November 17, 2013 2 Comments Read More →

Nationstar Issues Public Apology to Elderly Oregon Couple For Botched Modification

An Oregon couple has received a public apology from Nationstar, one of the nation’s largest mortgage loan servicers, for botching their loan modification. Nationstar approved Michael and Judith McElderly for a trial period plan in January 2013. Nationstar promised the McElderlys that it would permanently modify their loan if they made three trial payments of […]

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By November 17, 2013 0 Comments Read More →

The “Merkley Mortgage” Expands to Clackamas and Washington Counties

Earlier this year the Oregon Homeowner Stabilization Initiative (OHSI) launched a pilot program in Multnomah County to refinance underwater borrowers into affordable mortgages. That program is now expanding into Clackamas and Washington counties to reach more borrowers in need. Officially known as the Rebuilding American Homeownership Assistance Pilot Program (RAHAPP), the program has been affectionately […]

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By November 5, 2013 0 Comments Read More →

The Higher They Climb, The Harder They Fall: How Long It Takes For Credit Scores to Recover After A Late Payment

Tracy Becker, the CEO of a credit restoration company, asked FICO how long it would take for a person with a 680 credit score and a person with a 780 credit score to recover after 30-day and 90-day late pays on a mortgage. The answer is frightening. For a person with top notch credit, recovering […]

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By October 28, 2013 0 Comments Read More →

Owner-Occupied Purchase Demand Remains Well Below Pre-Bubble Norms

Recently on the Today show, the producers paraded a dog in a Marilyn Monroe costume, her fake bosom bursting out of a little doggy dress. In the modern age, there is a way to make anything look like something else. Some would argue that all the rosy headlines about rapidly rising home prices and breakout bidding […]

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