Distressed Housing: This Too Shall Pass

Posted on by Phil Querin

[Caveats: 1. The following information is solely based upon Oregon law.  Residents from other states should not assume their laws will result in the same outcome. 2. This post is for informational purposes only and should not be relied upon as “legal advice” for your particular situation.  In all cases, you should consult with your […]

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Posted in Deed in Lieu of Foreclosure, Deficiency Liability, Financial Crisis, Foreclosure, Legislation - Oregon, Miscellany, Real Estate/Distressed, Tax Issues, Trust Deeds | Tagged , , , , , , , , , , ,

HARP 2.0 – Old Wine In New Bottles

Posted on by Phil Querin

In my earlier post I was critical of the Obama Administration’s second run at jumpstarting the woefully inadequate Home Affordable Refinance Program or “HARP.”  As pointed out in my post, HARP had been an abysmal failure since its inception in 2009.  Then, on September 8, 2011, in the course of rolling out the American Jobs […]

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Posted in Deficiency Liability, Financial Crisis, Foreclosure, Legislation - Federal, Market Conditions, Miscellany, Real Estate/Distressed, Refinancing | Tagged , , , , , , , ,

Oregon House Bill 2916 – Will It Speed Up Short Sales?

Posted on by Phil Querin

The Oregon Legislature has recently passed, and the Governor has signed, House Bill 2916.  Here’s a quick summary: It applies to lenders who hold mortgage or trust deed on property consisting of one to four family dwellings, one of which the borrower occupies as their primary residence; It applies to “Residual Debt” which is the […]

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Posted in Deficiency Liability, Foreclosure, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Realtors, Short Sales, Trust Deeds | Tagged , , , , , , , , , ,

2011 – Realtor® Best Practices For Short Sales

Posted on by Phil Querin

As the Realtor® industry enters into 2011, there is little question but that short sales are going to be around for a while. It will take at least two more years as excess inventory from all sources – banks, distressed owners (current and non-current with lender), unsold new construction, new condos, and sellers waiting on […]

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Posted in Deficiency Liability, Foreclosure, Lenders, Miscellany, Real Estate General, Real Estate/Distressed, Realtors, Tax Issues, Trust Deeds | Tagged , , , , , , , , , , , ,

MERS: Good Strawman or Bad Strawman?

Posted on by Phil Querin

Doublethink: “…the power of holding two contradictory beliefs in one’s mind simultaneously, and accepting both of them. … To tell deliberate lies while genuinely believing in them, to forget any fact that has become inconvenient, and then, when it becomes necessary again, to draw it back from oblivion for just so long as it is needed, […]

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Posted in Foreclosure, Legislation - Federal, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate General, Real Estate/Commercial, Real Estate/Distressed | Tagged , , , , , , , ,

FIRPTA – Buyer Beware

Posted on by Phil Querin

Lately, there have been some stories about Realtors® and/or title companies having to pay a foreign seller’s federal income tax that was not withheld at the time of closing as it should have been.  About a year ago there was a significant change to how title companies handle FIRPTA withholdings that received scant attention in […]

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Posted in Legislation - Federal, Miscellany, Real Estate General, Real Estate/Distressed, Realtors, Tax Issues | Tagged , ,

What’s in Your REMIC?

Posted on by Phil Querin

Background. The residential loan market experienced tremendous growth between 2004 and 2007.  Lenders were able to accommodate millions of borrowers, because they quickly sold the loans they made into the secondary mortgage market, thus “recycling” their funds for further loans.  Initially, the secondary mortgage market was dominated by two major players, Fannie Mae and Freddie […]

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Posted in Foreclosure, Legislation - Federal, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed, Tax Issues, Trust Deeds | Tagged , , , , , , , , , , , , , ,

ROBO-SIGNERS WANTED – No Experience Necessary

Posted on by Phil Querin

“Why, anybody can have a brain. That’s a very mediocre commodity. Every pusillanimous creature that crawls on the Earth or slinks through slimy seas has a brain. Back where I come from, we have universities, seats of great learning, where men go to become great thinkers. And when they come out, they think deep thoughts […]

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Posted in Foreclosure, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed, Tax Issues, Trust Deeds | Tagged , , , , , , ,
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