Oregon Home Loan Modification – Modify Your Mortgage in Oregon

Free Loan Modification Consultation

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Just like any other State, Oregon is confronting the problem caused by the increased number of foreclosed homes. It all started with the banks approving loan applications without stringent verification so that even those people unworthy to it and those who didn’t have financial stability. Because of that, the number of defaults increased and the zero down payment loan system is to blame. All of the loan defaults resulted to foreclosure processes and this process deprived the debtors of the right of ownership.

The rights of the mortgaged properties are seized by the lenders such as the banks. However, the bank cannot take full advantage of the foreclosed homes’ cash value because the real estate market is currently confronting a decrease number of interested or potential buyers. The government proposed a countermeasure for this problem. This measure avoids the foreclosure process, and this measure is the loan modification program that is implemented last February 2009. The debtors have the rights to request for a revision of his/her contract’s terms and conditions.

Before you apply for a loan modification, make sure that this is the best option for your problem. Take note that, people nearing to default are eligible for these measures. There are borrowers that defaulted because of unexpected events in their lives like losing a job any events that can cause financial problems. If the reasons for your failure in paying the monthly rates aren’t related to your money handling skills, contact your lender and then request a re-negotiation of your contract’s terms and conditions. Be well informed before meeting your creditors. You can attend the free mortgage counselling offered by some banks. If you want to get professional help, get a lawyer that will help you all the way to run through the whole process. He/she will manage everything for you, all the requirements of a loan modification, the negotiation to get the best deal for you, in short a lawyer that will try everything to give you the best terms and agreement suitable for your financial needs.

With this new law, several homes are saved from being foreclosed since its implementation last February 18, 2009. The situation of the banks and lenders experienced some improvement thanks to the law. Because the law supports continues collaboration between the bank and their clients, the banks go for this rather than trying to sell foreclosed homes that are of no use to the local buyers. The cooperation between mortgagor and mortgagee is the underlying key to the success.

Oregon Mortgage Companies

IGR Mortgage Services
4445 SW Barbur Blvd
Portland, OR

Marleen Pitts Appraisals
61183 Concho St., Bend
La Pine, OR

Academy Mortgage Corporation
(503) 467-4150
10220 Sw Greenburg Rd
Portland, OR

Accord Property Management
(541) 536-1165
16430 3rd St
La Pine, OR

Hamilton, Jean C – Broker
(541) 536-1384
16430 3rd St
La Pine, OR

La Pine Property Management Services
51480 Hwy 97
La Pine, OR

Little Deschutes Lodge, LP
(541) 390-9679
5 NW Minnesota Ave, #210, Bend
La Pine, OR

1st Rate Mortgage Inc
(503) 548-8111
735 Se 9th Ave
Portland, OR

Landmark Reverse Mortgage
12901 SE 97th Ave
Clackamas, OR

Village Properties
Sunriver Village Mall Building 5, Sunriver
La Pine, OR

Oregon Legal Services

Center for Non-Profit Legal Services

Assistance: Consumer and Housing
Location: Jackson County
Website: http://cnpls.org
Phone: 541-779-7291 or 541-779-7000 (for seniors)
Services: The Center for Non-Profit Legal Services (CNPLS) is a non-profit law firm, which provides crisis civil legal assistance to low-income and elder residents of Jackson County who are experiencing problems in housing, public welfare, family dissolution, employment, immigration, and major life situations amenable to legal relief. CNPLS represents individuals in foreclosure cases.

Legal Aid Services of Oregon

Assistance: Consumer and Housing
Location: Statewide
Website: http://www.lawhelp.org/program/694/index.cfm
Phone: Click Here for a list by county
Services: Legal Aid Services of Oregon is a non-profit organization that provides representation on civil cases to low-income clients throughout Oregon.

Oregon Law Center

Assistance: Consumer
Location: Coos Bay; Grants Pass; Hillsboro; Ontario; Portland and Salem
Website: http://www.oregonlawcenter.org
Phone: Coos Bay (800-303-3638); Grants Pass (541-476-1058); Hillsboro (877-726-4381); Ontario (888-250-9877); Portland (503-295-2760); and Salem (503-485-0696)
Services: Oregon Law Center (OLC) provides free civil legal services to low-income individuals. The Portland office of OLC works directly with communities, organizations and other legal services providers who refer appropriate cases.

Avoid Mortgage Scams Oregon

Attention homeowners: If you think you have been a victim of a scam, or approached by a scammer, report it to the Loan Modification Scam Prevention Network now! Your complaint could provide vital information that will help put loan modification scammers out of business.

Call 1-888-995-HOPE (With your permission, the complaint will automatically be shared with federal, state and local law enforcement)