Bills to Protect Reverse-Mortgage Borrowers! Team Thayer Real Estate #realestate #market #reversemortgage #housing #news #oregon

New York lawmakers are working to increase the protections put in place for reverse-mortgage borrowers in the foreclosure process, according to a recent report from the New York Post.

The report states that Assemblywoman Helene Weinstein (D-Brooklyn) and Senator Jeff Klein (D-Bronx/Westchester) have introduced bills whose purpose is to provide reverse-mortgage holders with the same protections as first-mortgage borrowers during a foreclosure.

“We need to extend the consumer protections that exist for homeowners facing foreclosure to this most vulnerable population,” Weinstein said in the report. “Sometimes they are getting foreclosed upon over small amounts … losing their home … the major asset they’ve worked all their lives for, because the law doesn’t protect them, and obviously lenders are taking advantage of them.”

In these bills, there are two key changes according to the report. The first of these changes is the requirement for a written notification, including a notice with contact information for free nonprofit foreclosure-prevention assistance, to the borrower 90 days before the lender files a foreclosure case. The second of the changes is to mandate a settlement conference for both the borrower and the lender in order to try to work out a deal under an appointed judge or court-appointed mediator.

The report also states that Weinstein doesn’t expect this particular legislature to be back in session before the end of the year, but she does say that she plans to push for the law as well as “plug the hole” when it does come to session next year.

Additionally, the report also states that in the last legislative session, Weinstein tried to include some new protections for reverse-mortgage holders as part of a package of foreclosure-related bills. This was reportedly halted though by other issues that took priority. The report states that this included fines of up to $25,000 for lenders who fail to negotiate in good faith at settlement conferences. The report states that those sanctions take effect in this December.

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4 Financing Tips For Your Rental Property! Team Thayer #realestate #realestateinvestor #investor #housing #market #rentals #mortgage #news #oregon

With the spring real estate market firing on all cylinders, it’s no wonder we are seeing investors come out in record numbers. Real estate exit strategies ranging from wholesale deals to full rehabs have become incredibly attractive in today’s housing industry. However, one strategy in particular looks to be in a great place: buy and hold rental property . Cash flow opportunities are through the roof, as rents are soaring in nearly every city from San Diego to New York . Now may be one of the best times ever to acquire a rental property. However, those that have yet to do so should mind due diligence and consider what they are getting into before they make the jump. While there are a myriad of things potential landlords should consider before financing their first rental property, I highly recommend starting with the following four: Rental Property Consideration 1: The Numbers Prospective rental property buyers must run the numbers to see how much they can afford

Team Thayer Real Estate House Flipping Traps! #flippinghouses #eugeneoregon #oregon #housing #market #realestate

If you’ve got several leads waiting to turn into potential deals, you can’t wait for one to suddenly come knocking at your door. Successful real estate house flippers have one trait in common: they place an emphasis on proper planning. Once you’ve secured a deal, you must decide what kind of rehab you will perform. Will you conduct a few simple cosmetic upgrades (like these 10 rehab projects you finish in one weekend )? Or, is the home nice enough to sell after an easy prehab ? Are there structural damages that will require you to carry out more major renovations? Will you focus on implementing environmentally friendly renovations – also known as “greenhabbing” – so that you qualify for certain tax benefits ? Once you’ve determined your strategy, it is important to ask yourself these specific questions before diving into the construction action: What are the current market conditions in my area? What does my ideal buyer look like? Does my marketing campaign target my ide

UFC 227 play-by-play and live results #UFC #MMA #UFC227

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