November 2015 — Real Estate & Home Builders Guide — Page 19M
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Cheryl Jenison
ABR, BROKER, GRI, SRES
205 Pine Street • Spray, OR 97874
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Fax 468-3115
www.realestateoutback.com
99267 - Rural Spray
Property – REDUCED -
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99313 - Winlock Area,
Cabin style home
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$219,000
99308 - 5 miles out of
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99306 - Home in the
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99292A – Spray
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99259 – REDUCED –
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By Ilyce Glink and Samuel J. Tamkin
Tribune Content Agency
Q
I’ve never been late with my
payments. Bank of America has
my loan. I’m wondering if I can
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loan. My house is literally falling apart, but
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termite problem. Should I sell the property
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If you do, then you might be able
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needed repairs, then you should consider
selling this property before it falls down
around you.
The program that might be helpful to you
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your mortgage. But you’d only do this if you
have a high interest rate and very little or
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repayment easier (because it would lower
your interest rate), it wouldn’t give you any
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loan, despite what you may have heard.
First, your loan must be owned by Fannie
Mae or Freddie Mac. (If Bank of America is
the servicer, then it’s likely that your loan is
owned by Fannie or Freddie.) Your loan has
to have been originated on or before May
31, 2009. And your loan-to-value ratio must
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think about listing this property before
any more value slips away. Please talk
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to a handful of real estate agents who are
familiar with the neighborhood, and who
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business in your neighborhood. If you don’t
know good agents in the neighborhood, call
up the companies that work there, talk to the
managing broker about your situation and
ask for a recommendation. Then, interview
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connect with.
Use online tools like Zillow, Trulia,
Ilyce’s YouTube channel (www.youtube.
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website (www.ThinkGlink.com) to educate
yourself on the prospects and what the sales
situation looks like in your neighborhood
right now.
Once you have that information, you
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a short sale — that is where you owe your
lender more than what you will get out of
the sale of the home. If this is the case, you
may want to contact the lender early in
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lender will have for your short sale. (The
lender has to approve a short sale and that
approval process can take a long time.)
Short sales are not always easy, but if
you take some time and talk to your lender
now, you might get a better idea how hard
it will be for you to sell it to a prospective
buyer.
Good luck.
Ilyce Glink is the creator of an 18-part
webinar+ebook series called “The
Intentional Investor: How to be wildly
successful in real estate,” as well as the
author of many books on real estate. She
also hosts the “Real Estate Minute,” on
her YouTube channel. Samuel J. Tamkin
is a Chicago-based real estate attorney.
Contact Ilyce and Sam through her
website, ThinkGlink.com.
BUSINESS: 541-523-2800
CELL: 541-518-2800
3480 Place • BAKER CITY,
OR 97814
“16th Street - between
Auburn and Place”
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GRANITE CREEK RD
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Holly Bri
Loan Officer
MNLS # 1220124
P: (541) 371-1155
holly.bri@academymortgage.com
www.academymortgage.com/hollybri
ML#-2421 l Corp NMLS #3113
Judy Woods
Sales Manager
MNLS #296683
P: (503) 569-3361
judy.woods@academymortgage.com
www.academymortgage.com/judywoods
ML#-2421 l Corp NMLS #3113
MILL CREEK LN
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295 East Main Street, Suite # 5-W
Hermiston, OR 97838
Zero down home loans are VA loans, USDA and NHF Planum loans. This is not an offer for extension of credit or a commitment to lend. All mortgage products are subject to credit & property approval, rates, program terms
& condions subject to change without noce. Addional condions, qualificaons, & restricons may apply. Contact Academy Mortgage for more informaon.
