Team Thayer Property Servicing

Oregon Short sale expert Elizabeth Thayer  A short sale is when a property is sold for less than its remaining mortgage principal balance, and executed as a way for both the existing home owner and mortgage lender to reduce their respective losses by avoiding a foreclosure. Typically, short sales are reserved for situations of extreme financial hardship; just prior a bank beginning foreclosure proceedings. Short sales are not automatic, however. Home owners must often prove the merits a short sale to their lender, which often involves documenting that selling the home for less than its worth is the best and most viable option for all parties involved. The short sale process starts with a letter of hardship from the current homeowner. To prove the short sale worthiness to the bank, the listing agent should have already started the process for your seller with their lender and got the ball rolling by submitting a cover letter which explains their hardship, as well ...

T he number of delinquent mortgages continues to fall, but the foreclosure crisis is still taking its toll on hundreds of thousands of borrowers. Of the approximately 952,000 borrowers who are 90 or more days past due on their monthly payments, but not yet in foreclosure, 62 percent have already been through some form of home retention program, according to Black Knight Financial Services (BKFS). They are, it seems, beyond help. Home retention programs were established by lenders and the government to work with borrowers to enable them to keep their homes. Loan Modifications Fail at a high Rate "The percentages do look significant," said Ben Graboske, senior vice president of Black Knight's data and analytics unit. He pointed to trends in the government's modification program, which has given borrowers less relief of late. In 2010, homeowners on average could have received a $530 monthly payment reduction. That has dropped to the $450 range today....

Bad tenants are bad news! Renting to a person who refuses to pay their rent can cost a landlord thousands of dollars. A destructive tenant may end up damaging your property and racking up huge repair bills. Other nightmare renters can fight eviction, and the worst case is a renter who harms other tenants or even you! A landlord’s lackadaisical approach to tenant selection can end up biting him in the end. Here are 6 common mistakes that cause good landlords to end up with bad tenants: #1: Failing to run proper  tenant screening  checks.  This error can cause you to miss big red flags that would steer you away from certain rental applicants. A tenant criminal background check can show you the applicant’s potential for being dangerous or destructive. A tenant screening credit check could alert you to a person’s problems with huge debt, or overall financial instability. Eviction records can return evidence of a person’s past evictions. All of this information is impo...

T he world of real estate can be confusing, and sometimes, even with careful planning, mortgage payments can be difficult to make . If you find yourself faced with options like foreclosure, bankruptcy or a short sale, it’s important to understand your choices. A short sale is for those who do not qualify or do not want to  refinance their home mortgages . In this situation the seller can accept a lower bid for the property to increase the chances of a quicker sale. This requires that the lender agree to accept a payment lower than the balance owed on the mortgage. The lender takes a loss but gets at least some (or even most) of its money and both parties  avoid foreclosure . The Process Short sales can be a long and complicated process and require a streamlined communication line between seller and mortgage lender. Most creditors require that the borrower show that financial hardship is preventing them from making mortgage payments. Different c...

New Bank Foreclosure to be listed tomorrow. 902 S 59th Springfield Or. Huge 4 bed 2 bath manufactured on land with a full studio apartment over a large shop. Only $114k!!! Call Justin Thayer @ 541-543-7287 Find out more information about buying foreclosure properties. Click the TeamThayer.com link below. www.teamthayer.com

1.  PAINT EVERY ROOM A DIFFERENT COLOR Before selling your home, it’s not necessary to paint every single wall white. What is important is to stick to a cohesive color scheme that is neutral and will appeal to lots of different people with different tastes. 2.  LET THE LANDSCAPING GO It may be tempting to save on the flower budget if you hope to be out of your home before the summer ends. But investing in a few flowers will make your home look inviting to potential homebuyers. Also remember to keep flower beds weeded, the grass cut, and trees and shrubs pruned. 3.  SMOKE INSIDE YOUR HOME If you are a smoker who smokes inside your home, stop as soon as you think you might want to sell! Cigarette smell is very hard to remove from a home and the sooner you stop smoking inside, the easier it’ll be. Plus, it’ll prevent you from constantly shampooing your carpets and washing down the walls while you’re showing your home. 4.  LET YOUR HOME FALL INTO DISREPAIR ...

Real Estate is similar to most other industries in that your professional must be licensed in the state they are doing business, so how can your friend or family member who may be over 2,000 miles across the country help you find an ethical, trust-worthy agent to represent your best interest? The answer is easy! Ask for a referral. We all want to do 'good business'. Part of good business is trusting who those close to us have trusted in the past. Most agents take referrals very seriously. We work hard and strive to pro-actively build a strong network of agents across the country and around the globe. We know we live in a mobile society and we can't be bound to just one geographic location, but we also can't realistically be licensed and service everyone in every state.  Here at the Greenleaf-Elving Group, we dedicate several hours each week just to agent outreach and networking. When we travel, we reserve time to meet the agents and office managers in that...

Before deciding on a price to list your home, let's debunk a few myths:   Myth:  ouY should always ask more than market value to leave room for negotiations. Courtesy of Top Producer The fact is, neither you or the buyer determine the selling price of your home. The market determines that. If you overprice, and you're fortunate enough to even get someone to consider your home for purchase, they and their agent will likely come back and offer a price based on fair market value plus or minus any special adjustments.  The idea from the start is not to scare potential buyers away by having a house priced above what the market says is fair. Myth : Pricing high will help bring in more well-qualified, affluent buyers. Courtesy of Top Producer On the contrary, it is financial nonsense to pay more than fair market value for anything. Even if the buyer is paying cash, wise buyers will always have a formal appraisal to determine the actual market value. ...