Another Medford Oregon, Southern Oregon, Short Sale Approved and Closed!
Amount Owed: $231,900
Sold For: $158,500
Hardship: Adjustable rate mortgage that kept going up and up. Needed to relocate out of state for employment.
Shortly after buying their home, the roof started to leak and the homeowner had no money to get it fixed. On the sale of the property, we negotiated that the buyer would take care of any issues with the roof in order to purchase the home.
Medford Oregon Short Sale Approved and Closed!
Lenders: Countrywide (Bank of American); Key Bank
Sold For: $224,900
Amount Owed On Original Loans: $267,000
Hardship: Decline in income
Fabulous clients who had taken out a 2nd mortgage to help pay for their daughters education. The home had been on the market for nearly 3 years prior to our listing the property. NO OTHER AGENT had talked to them about doing a short sale on their Medford Oregon home! The sellers found me through my online blog about Short Sales in Southern Oregon and in Medford Oregon. They had tried a loan modification and were able to get one of the loans modified, but as happens with so many loan modifications, the payments still were too much as their income continued to decline. We were able to promptly get an offer and get the short sale close in a timely manner.
Southern Oregon - Eagle Point Short Sale Approved and Closed!
Lender: First Horizon Home Loans, now Met Life Home Loans
Purchase price: $185,500
Amount Owed On Original Loan: $250,000
Hardship: Loss of income due to decreased hours at work
Even in this "slow" market, we received multiple offers. I was given this referral by another agent that knew I could take care of his client. We listed it just a few weeks before the foreclosure sale, got the offer into the sellers lender with the full Southern Oregon, Eagle Point short sale package, and then got the Eagle Point foreclosure delayed while the sellers lender reviewed the short sale and then eventually approved the offer. The sellers had tried to do an Eagle Point Oregon loan modification, to no avail, so I was given the short sale referral just in the nick of time. I always recommend contacting a realtor sooner rather than later if you find yourself in a situation where you are falling behind on your house payments and make sure you know the options that are available.
Congratulations to my clients, I am excited for them to be able to put this behind them and move on with their lives!
Southern Oregon Loan Modification or Short Sale?
Concerned, stressed, at wits end. Those are the phone calls I get daily now. Sound familiar? Relax. Take a deep breath, Its going to be all right.
If you own a home or investment property in Southern Oregon and any of its local communities like Ashland, Talent, Phoenix, Medford, Eagle Point, and Grants Pass and are experiencing the emotions of being barely able to keep up on your mortgage payments, or have fallen behind, there is hope.
A loan modification in Southern Oregon is one of the first things I recommend if you want to stay in your house and just need a more reasonable payment to give you some breathing room. One of the first things I recommend if this fits your situation is to call your lender immediately, especially the 1st mortgage if you have a 1st and a 2nd mortgage, but I recommend calling both lenders. The Oregon Attorney General has stated that you can do everything and anything some "loan modification" companies charge you $2,000 or more to try and do. Follow up with your lenders, follow up, and follow up some more. Expect that they will ask you to gather some financial information and put together a little package for them. Also expect that your potential loan modification will get lost several times and they will ask you to refax or resend it several times, and then they will only get part of the package and ask you to resend specific parts. Its all part of the process. I recommend trying to be patient and nice when following up, it can be difficult sometimes.
Another great resource is the www.makinghomeaffordable.com website that the government has in place. This will give you a feel for whether your loan is a possibility to fit into some of the loan modification plans that are available for a Fannie Mae or Freddie Mac loan, and whether or not you have a Freddie or Fannie loan. This program only applies to principal residences, not investment properties.
Now, if your application for loan modification in Southern Oregon and its surrounding communities of Ashland, Talent, Phoenix, Medford, Eagle Point, and Grants Pass is denied or you feel like giving up and just passing over the keys to the bank, resist the temptation, there are other options.
In Southern Oregon and its communities of Ashland, Talent, Phoenix, Medford, Eagle Point, and Grants Pass, another option is a short sale, asking your bank to take less than they are owed so that the house doesn't go into foreclosure. This can be a great option to not have a foreclosure on your credit, and have the risk of a lender coming after you for "their money" and even the possibility of them getting a judgement against you and garnishing wages. A Southern Oregon short sale is also a great plan for investors that are not able to do a loan modification, or for the homeowner that just wants to move on with their life and get rid of the house payment that has felt like an alligator around their neck.
Just as you wouldn't see a podiatrist if you had a heart condition, you'd see a heart doctor, I recommend not finding just any old real estate agent to help you with your Southern Oregon, and Medford Oregon short sale, find someone that specializes in them and has closed numerous short sales. I would be happy to visit with you regarding all of the various options available, without charge, just give me a call or pop me over an email.
New Medford Oregon Vacant Property Ordinance Does this Effect Short Sales &/or REO's?
According to today's http://www.mailtribune.com/apps/pbcs.dll/article?AID=/20090924/NEWS/909240318 it sounds like all homes that are vacant in Medford Oregon, for whatever reason should be registered with the city. I just spoke with the Medford Code Enforcement Department on the phone and they indicated this is NOT the case, it is designed for abandoned homes to make the lien holder responsible. The actual code can be found at http://www.ci.medford.or.us/CodePrint.asp?Branch=True&CodeID=4409.
So how does that affect your Medford Oregon short sale? From my conversation with the City of Medford and from my interpretation of the code itself, it is strictly designed for the lender, not the actual homeowner. Once a homeowner is in default on their loan, it is the lenders responsibility to keep regular tabs on the property to determine it being kept up and secured. If the lender does not register the property, the LENDER can be fined up to $250 per day for a violation of this code, according to the Mail Tribune.
How does that affect a Medford Oregon REO or Bank Owned Foreclosure? Lenders beware, it could be very costly in the City of Medford to have a vacant property. They have options, pay the penalty, upkeep the property, and register the property with the City of Medford.
If you live in the City of Medford and see a vacant property feel free to call the code enforcement division at 541-774-2016 to help keep Medford a cleaner and safer community. For free information on Medford Oregon Short Sales and/or Bank Owned Properties, feel free to call my direct line at 541-772-SOLD (7653) or visit me on the web at www.topsouthernoregonagent.com.
(The above information is courtesy of Jared Hokanson Realty Group PC and is the personal opinion of Jared Hokanson, it is not intended as tax and/or legal advice, please consult the appropriate tax and legal counselors regarding your specific situation)
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The pursuit of WOW! If you are selling and want the most $ out of your house, I can show you how. If you are buying and want to save the most $ on your house, I can show you how. Se habla español.
Relax! Let Jared and his team do the work for you. Jared Hokanson is one of the top realtors in the Medford, Jackson County, Rogue Valley Area because he does business the old fashioned way, he takes care of his clients and they refer their friends. He is continually in the pursuit of WOW for his clients.
Whether its when his team is helping one of his sellers stage their home, dropping off moving boxes, creating a virtual tour that is the envy of everyone, recommending a handyman or negotiating to help the seller get top dollar for their home, Jared is there to help his clients every step of the way.
For his buyers, whether they be first time home buyers, investors, or a client moving up to their dream home, Jared is there to help them save the most money and help with everything from shrewd negotiating to help the buyer save thousands, lining up the home inspector to help make sure the buyer is aware of any issues that may exist with the house, helping the buyer with a home warranty to cover some of the unexpected things that may come up with home ownership, or just dropping off a dinner on the move in date, Jared will be there.
Honesty, follow through, professionalism, and negotiations, and a big heart, are some of his best qualities his clients have said. If you want to be "WOW'd", please give Jared a call.
Throughout his life, Jared has personally lived in (at different times):
Why do I tell you this?
Jared knows what it feels like to think about owning a new home. To pick up, move yourself, your spouse, and your children across the street, across the block, or across the country, is heart wrenching, exciting, time consuming, exhausting, exhilerating, stressful, nerve wracking, and rewarding.
To invest in a rental home, a foreclosure, rehab project, flip house, apartment complex, commercial property, or development property can have many of those same emotions. Jared knows!
If you want someone that has the experience, the caring, the guts, the endurance, and the love for his clients and their families, please give Jared a call.
Jared was the listing agent on my income property that was being listed as a "Short Sale". The task at hand was difficult at best. Short Sales take the strength of a giant, in order to see that sale to the end. Dealing with the banks and getting them to facilitate the transaction is a mile stone!!! Jared and his team were relentless when it came to dealing with the bank and taking tremendous care of me.
The transaction has now closed and if you need someone to help in any Real Estate Transactions "Contact Jared".
He is a great person, has integrity, is honest and ethical! He looks out for his client's best interests and in today's market that is the one quality that makes him stand out from the rest...
Michele K.
Shortly after the purchase of our first home my family received some bad news that forced us to quickly move out of the state. It was a scary situation that no one ever wants to face, and worse yet we had to sell our home in a down economy. We worked with Jared from another state and he handled everything. There was no stone left unturned, he even found someone to mow our lawn. He worked tirelessly with the bank on our short sale and did not quit until our house was sold. As difficult as the lender was to work with, I am convinced that the bank would have foreclosed on our home if Jared had not been such a strong advocate for us. I am indebted to him for his efforts and would recommend him to anybody trying to sell their home.
Richard & Adrienne
Dear Jared
My past experiences with Realtors have not been pleasant; however, Jared changed it all! Jared is respectful, professional, courteous and stays on top of the entire purchasing process. His follow up is awesome and he continues to understand exactly what you are looking for until it clicks. Jared's availability is great and I highly recommend him to family friends and any future buyers or sellers. Thanks Jared!
Mari
Jared Hokanson is an outstanding agent. I have never met someone who works so hard for his clients. His follow-up and genuine concern for us as clients was amazing. I have been a corporate trainer for the past four years, and I would use him as an example of professionalism to all of my trainees. I am so grateful my brother-in-law referred him to us. After buying a house through him we actually referred him to my mother and mother-in-law! The fact that he has been consistantly great and sold houses to four different branches of my family really says something. Thanks Jared!
Tyrah & Joe
After a cross-country move, we had tried unsuccessfully to sell our house for a year. Knowing that we needed a fresh perspective on selling our home, a friend recommended Jared to us as a Realtor who knew the Medford market and would work hard for us to sell our home for the best possible price. We interviewed Jared at length over the phone and he was able to answer every question that we had about why our house had not sold and to give us a detailed marketing strategy and honest appraisal of the current housing situation.
Jared was in weekly contact with us regarding interest in our home, showings, and proper pricing. Within a month-and-a-half of listing with Jared, we had two offers on our home and we closed within a month.
We are grateful for the time and effort Jared put into selling our home for the best price possible in this difficult housing market.
Kent and Debbie Stiles
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