5 Things to Consider if You’re Behind on Your Mortgage

 5 Things to Consider if You’re Behind on Your Mortgage

Posted October 26 2015, 11:00 AM PDT by Richard Eastern

Posted by Richard Eastern

mortgageFinancial setbacks like the loss of a job or large medical bills can make it tough to make ends meet. If you find yourself behind on your mortgage payments, it helps to be proactive.  It’s also good to know that federal and local agencies, even banks, are working to help those who are behind on their mortgages from going into foreclosure.

If you are behind on your mortgage, here are 5 steps you can take.

1)  Call your lender as soon as possible.

As uncomfortable as that call can be, the problem will not go away by avoiding your lender. If you are having trouble making your payments, the sooner you contact your lender, the more options you will have. Some homeowners postpone communicating with their lender for so long, that foreclosure becomes the only option.  Don’t let that happen to you.

2) Talk to a housing counselor.

The U.S. Department of Housing and Urban Development (HUD) has a list of approved nonprofit housing counselors, who will provide free counseling for homeowners who are behind on their mortgages. They’ll go over options and suggest next steps. Call HUD at 888-995-4673 or visit the HUD site to find a counselor in your area.

3)  See if you can lower your mortgage payment.

You might be able to refinance or do a loan modification to make your monthly payment more affordable. There are a number of programs available depending on your circumstances. A HUD housing counselor or your lender can help you explore your options.

4)  Find out if you qualify for a short sale.

A short sale is an alternative to foreclosure when a homeowner needs to sell and can no longer afford to make mortgage payments. The lender agrees to accept less than the amount owed to pay off a loan, rather than going forward with a lengthy and costly foreclosure process.

Although every homeowner’s situation is unique, the basic criteria for qualifying for a short sale are:

  • You need to sell your home.
  • You owe more on your mortgage than your home is worth.
  • You have a personal financial hardship that will prevent you from making future payments. (Examples of hardship include loss of job, divorce, death of a spouse and medical emergency or illness.)

In most instances, a short sale makes more sense than foreclosure. In general, when you want to obtain a loan to purchase a property in the future, more opportunities will be available to you if you do a short sale. Find out more about how short sales work.

5) See if you qualify for cash incentives tied to a short sale.

Several programs offer cash incentives to homeowners to do a short sale in order to avoid foreclosure.

The federal government’s Home Affordable Foreclosure Alternatives (HAFA) program might provide $3,000 in relocation assistance to homeowners who do short sales.

Lenders, including Chase and Bank of America, have paid significant cash incentives to encourage sellers to do a short sale and avoid foreclosure. In the past few months, we have had homeowners receive checks from their lender at closing in amounts that range up to $35,000. And these large incentives are not restricted to owners of high-end properties. The owner of a short sale property that recently sold for $164,000 received a check for $25,000. The checks are given for relocation assistance and can be used however the homeowner sees fit. There are no restrictions.

It’s important to note that the seller incentive is determined by the investor, so not every lender is paying incentives. However, if you are considering a short sale, it’s a good time to find out if you qualify.


Posted on October 28, 2015 at 5:19 pm
Windermere Shady Cove | Posted in Info, Misc., Real Estate Trends | Tagged , , ,

Should you buy or should you rent?

SHOULD YOU BUY OR RENT?

Do you dream of owning your own home? Or are you happy to rent a place where a landlord takes care of all your home issues? There are pros and cons of both renting and owning your home. Here are some issues to consider if you are on the fence:


Posted on September 9, 2015 at 8:39 pm
Windermere Shady Cove | Posted in Info, Real Estate Trends | Tagged

The Windermere Foundation Wildfire Fund

To help support those families that have been affected by wildfires this year, please consider donating to The Windermere Foundation Wildfire Fund.

Posted in Windermere Foundation by Christine Wood
 

 

We are deeply concerned about the ongoing impact of wildfires throughout the Western United States this year. Eastern and Western Washington, Oregon, Idaho, California and Western Montana have been hit particularly hard by rampant wildfires this summer. According to the National Interagency Fire Center, 65 known fires are raging throughout the states we serve, displacing thousands of families.  We have heard that many of you wish to support the emergency relief for those who have lost their homes.

 

 

The Windermere Foundation is now accepting donations to support the families that have been affected by wildfires. We will disburse donations to organizations that are serving local families based on the region you designate or by your billing zip code. One hundred percent of the funds designated to the Windermere Foundation Wildfire Fund will go to local organizations that are providing immediate assistance to those who are affected by the fires.
 

You can donate online at: https://store.windermere.com/content/FoundationWildfireFund Anyone can make a donation through this fund, so please feel free to share this email with your friends and family.
  
Our hearts go out to everyone who is affected by these terrible fires.
 
Thank you for your support!


Posted on August 25, 2015 at 7:44 pm
Windermere Shady Cove | Posted in Info, Misc. | Tagged , ,

Oregon Summer Vacation

Camping, hiking, boating, tide pooling…we have it all right here in Oregon! What are you looking forward to doing this summer?

The Oregon State Parks Guide for 2015-2016 was just released. Download a copy and start making those summer plans!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Posted on April 7, 2015 at 9:51 pm
Windermere Shady Cove | Posted in Info, Southern Oregon Recreation | Tagged , , ,

Tips for Planning for a Winter Hike

We have been enjoying a mild winter thus far here in Southern Oregon. This is a great article from our friends at Union Creek Resort on planning for a winter hike. So get out there and enjoy the “enlightening experience with the forest becoming a different world during the cold season.”

 

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Tips for Planning for a Winter Hike

How to get outside and best enjoy cold, wet, snowy, and icy hiking conditions

Brrr, it’s cold and wet outside. Does that make you want to stay inside and curl up next to a warm fire? Or are you the type who says, “Bad weather? More like perfect weather to get outside for a hike!”?

If you’re like us and cold weather months dominate your calendar, becoming bear-like and hibernating inside isn’t always a favorable option. Sitting by a fire is nice, but getting outside and enjoying nature has its immense advantages. Here at Union Creek Resort, where deep snow is common in winter, we revel in outdoor winter activities. Local Upper Rogue River and Crater Lake hiking trails are perfect for serene winter hikes, filled with thriving creeks and rivers, cascading waterfalls, towering old growth forests, and the pristine Rogue River National Forest.

Staying inside, out of wet and cold weather, can give anyone a serious case of cabin fever, inhibit your exercise, and dampen your mood. Winter hiking can be an especially enlightening experience with the forest becoming a different world during the cold season. For starters, you can practically have the trails to yourself as fewer people brave the elements. Hiking in the rain or on snow-covered trails brings a new world of sights, sounds and smells. Rain lightly hitting Douglas fir pine needles and the forest floor is a calming, soothing sound. The muffled crunch of snow under your feet, juxtaposed with the extreme quiet of a white surrounding winter land, makes for an exhilarating, memorable experience. And the cool, clean, fresh smells filling the air just can’t be beat.

For all of its positives, cold-weather hiking does require a great deal more due diligence than fair-weather activities. Being prepared and ready for cooler temperatures and wetter environments is a must and helps guarantee a safe and fun time.

As the Boy Scouts say, Be Prepared

Before hitting the trails, you need to spend some time researching where you’re going. Consult your local library for detailed trail guides, Google search the area and specific trails, or contact the U.S. Forest Service with questions. You can also contact nearby businesses to get the very latest, and actual, information. If you’re hiking in the Union Creek or Crater Lake area, contact the Union Creek Resort at 541-560-3565 or info@unioncreekoregon.com. If possible, talk to people who have actually hiked the trail during both nice and poor weather conditions, and find out how the trail is different in each situation.

  • Study the trail. Study and bring maps (either printed or digital) and make sure you know the ins and outs of following the trail; a snow-covered or wet trail is harder to follow so make sure you learn insider tips of when it branches off in different directions, passes by landmarks, and places where it’s difficult to see. It’s also essential to find out how strenuous the trail is and how long it typically takes. You don’t want to tackle too difficult a trail in cold weather, and you want to give yourself plenty of time to finish during the daylight hours.
  • Check road conditions. Some smaller roads are closed during the winter due to snowfall so make sure you are aware of any possible closures. You can also search out webcams that show current conditions and give you a visual sense of the conditions you will be hiking in.
  • Weather reports. Be sure to check the latest forecasts for temperature, rain, snow, wind, and any other information you can get.
  • Sunrise and sunset. Find out your optimal window of daylight hiking and be on the trail as early as possible, depending on the length of the hike. The sun sets much earlier in the winter months and you don’t want to get stuck out on the trail after sunset because of poor planning.

Plan for everything; plan for a great time.

If possible, go with hiking partners who have experience in poor weather. If you bring a friend who’s great at following snow-covered trails, or knows how to build a snow shelter when necessary, bring them along for added safety and peace of mind.

You should also let your friends and family know your trip plan, making sure they know where you’re going, how long it should take, and when you will check back in with them so they know you’re safe and sound.

Finally, make sure all of your equipment works. You don’t want to find out that your waterproof jacket is ripped, or your water bottle has a slow leak once you’re out on the trail.

10ThingsWinterHike2

If you’re specifically hiking snowy trails, snowshoes are a must and make any depth of snow manageable. Snowshoes can be rented at the Union Creek Resort Country Store. Trekking poles are also handy in slippery conditions, which include muddy, snowy, or icy trails.

Clothes may not make you, but they’ll definitely make you warmer and more comfortable.

Comfort in hiking in wet and snowy conditions requires clothing that will keep you dry and warm. You’ll need clothes, boots and accessories that wick moisture, dry quickly, are insulated, waterproof and breathable. And above all, avoid wearing cotton-based fabrics (including corduroy, denim, flannel, or duck) that hold moisture against your skin, wicks heat from your body, and don’t insulate once wet – putting you at risk of hypothermia. Wool is also to be avoided as it does not wick moisture, and instead keeps it against your skin.

With clothing, layering is key to keep a constant body temperature. When you start out, you may be cold but your body will generate heat in the first 15 minutes.

  • Base layer. This layer, which touches your skin, is your moisture-wicking layer that moves moisture from your skin to outer clothing layers where it can evaporate. Typical base layers are a wicking breathable shirt or thermal layer.
  • Middle layer. This is your insulating later and helps your body retain heat. Ideas include a microfleece shirt, fleece or down jacket and fleece pants.
  • Outer layer/shell. Your first line of defense against the elements of rain and snow, the outer shell should be wind and waterproof.
  • Socks. Time to layer again. Wear a thin, well-fitting pair next to your skin and a second, thicker set over those. Make sure the two pairs are not so thick that they make your boots too tight, which will make your feet cold.
  • Boots. Wear footwear that is comfortable, waterproof, and insulated with good traction for slipper conditions. If you’re hiking exclusively in snow, a good idea is to strap on ice traction devices like Yaktrax or STABILicers that strap onto the bottom of your boots.
  • Hat. Heat is lost through the top of your head, so in cold weather make sure your top is covered.  Hats can also help keep rain out of your eyes or eye protection.
  • Gloves/mittens. We all know how miserable it is when our hands are freezing, even if the rest of our bodies are toasty warm. We suggest two layers – one for insulation and the other for waterproofing.
  • Gaiters. If you’re hiking in snow, gaiters are awesome for keeping wetness from entering your boots and ensuring your feet stay dry and warm.
  • Eye protection. Glasses or goggles are great for keeping wind and water out of your eyes, as well as blocking UV rays and reflection in snowy conditions.

Now that you’re prepared for any type of weather, freezing temperatures, difficult ground conditions, and unforeseen emergencies, it’s time to hit the trail. Here are a few basic tips to remember while you’re hiking.

  • Warm up. If it’s chilly when you start, job in place for a minute or so or go for a quick sprint at the trailhead. This will warm you up and get you ready for the hike.
  • Stay hydrated. In cold weather, you won’t feel as thirsty but it’s important to drink constantly to avoid dehydration.
  • Be careful. Icy, snowy, or wet conditions translate to slipperiness. Always be aware of where your feet are stepping and the slope of the trail. Trekking poles can really help you keep your balance in any terrain.
  • Stay dry. Avoid getting unnecessarily wet, especially when crossing a stream or walking through puddle-lined trails.

And finally, don’t forget to enjoy the experience! Sometimes it’s easy to get caught up in what’s wrong with a cold-weather hike, because it is, after all, a cold-weather hike. Sure it’s cooler, wetter, and possibly darker. But it’s also a memory-creating experience where you’re in the great outdoors instead of stuck inside. Enjoy the cool, fresh air, winter exercise, and beautiful scenery!


Posted on December 17, 2014 at 6:44 pm
Windermere Shady Cove | Posted in Southern Oregon Recreation | Tagged , , , ,

Shady Cove Water

 

As many of you may know, Shady Cove is the largest city in the state without a municipal water supply but water is coming! If you live in Shady Cove and would like water service, you need to fill out an online Water Service Request Form from Hiland Water.

 

HILAND WATER CORPORATION

Silas Olson, Business Manager

silas@hilandwater.com

Cell: 503-537-4504

 

System Development Fee       2,500.00  
Connection/Water Meter          450.00  
Base Rate up to 7,000 gal.            50.00 a month
         
$5.00 per 1,000.00 after that

 

 

 


Posted on October 14, 2014 at 9:25 pm
Windermere Shady Cove | Posted in Info | Tagged , , , , ,

In the market to buy a home?

 

Are you thinking of buying a home, and you aren’t sure exactly where to start? Here is a checklist to help you get ready to make your home dreams come true:

Decide where you want to live! Are you where you want to be? Generally, you will want to plan on staying in your home for at least 5-7 years in order for you investment to pay off, so it’s important to look at homes in an area that will meet your needs over the long term. 

Explore the market. Once you know where you will be looking for homes, you can start to explore. Get to know the neighborhoods, the school districts, the local businesses, and community amenities.

Make a list of what you need and want. Create a list of the things in a home that are most important to you. Like the number of bedrooms/bathrooms, home features, commute times, etc. Then make a list of things that you would like to have, but aren’t as important, such as a fireplace, a large back yard, or a pool. It may help you to create a Pinterest board with your favorite home features that you can share with your agent when you’re ready to start looking.

Search for comparable houses in your market. Once you know where you’d like to buy and what type of house you’re looking for, you can start to realistically assess how much it will cost. Use an online search tool like windermere.com to see what’s for sale in your preferred neighborhood(s) and the value of the homes.

Take a good look at your finances. Once you have an idea of what homes cost, you can start figuring out how much money you need for a down payment, monthly mortgage payments, property taxes, etc. Make sure to check your credit score to ensure that everything is in order before applying for a home loan.

Develop your financial plan. Determine how much you need to save for your down payment and create a plan and timeline to achieve this goal. Outstanding debt can drag down your credit score, so make sure that paying down debt is a part of your plan.  

Find a real estate agent! Once you’ve met your financial goals, it’s time to find a real estate agent. The best place to start is by asking friends and family for a referral. You can also search on real estate websites, like windermere.com, to find an agent that specializes in the area you are looking to live.

Get pre-approved for your home loan. Your agent should be able to refer you to a mortgage representative who can assist with the financing of your new home. The first step is to get pre-approved so that you know exactly how much home you can afford. Not only does this allow you to refine your home search, but it can also give you a competitive advantage when there are multiple buyers bidding on the same property.  

Start shopping! This process involves everything from searching for homes online to visiting open houses on the weekends. But perhaps the most important part of this process is going on a good-old-fashioned home tour with your real estate agent. Looking for homes online lets you search more efficiently, but there’s nothing like seeing the home – and its surroundings – first hand.

The bidding process. The bidding process differs from region to region and season to season, but ultimately you should look to your agent to help you develop a plan based on your priorities and financial abilities. Depending on the market where you’re buying, there could be multiple buyers bidding for the same home, so it’s a good idea to have a well thought out strategy ahead of time.

Offer acceptance & earnest money. Once a seller accepts your offer you are required to put down an earnest money deposit to show that you are committed to purchasing the house. This money is held jointly by the seller and the buyer in a trust or escrow account. The earnest money goes towards your down payment and closing costs upon the closing of the home sale.

Home inspection. Most home sales are pending until a home inspection is completed. This is when a home inspector checks the condition of a home, such as the foundation, roof, windows, insulation, electrical, and heating components. If a home inspection turns up the need for repairs, it can end up being a tool for re-negotiations with the seller.  

Home appraisal. This is an all-important step to getting the financing you need for your new home. An appraisal is performed to assess the true value of a home, which in turn, determines how much a lender is willing to give you to buy it. Appraisals protect banks from getting stuck with property that's worth less than they've invested. And it protects you from paying too much for a house simply because it was love at first sight.

Purchase your home insurance. A standard homeowner’s insurance policy typically covers your home, your belongings, injury or property damage to others, and living expenses if you are unable to live in your home temporarily because of an insured disaster.

Closing! The closing marks the final step of the home purchase process. This is when the deed to a property is legally transferred from the seller to the buyer who then takes possession of the home. In simple terms, this is when you get the keys to your new home and you can officially move in.

If you have any additional questions about the home buying process, contact us at 541-878-2249.


Posted on October 13, 2014 at 9:32 pm
Windermere Shady Cove | Posted in Real Estate Trends | Tagged ,

Fall Home Maintenance Checklist

What's not to like about fall time in the Rogue Valley? Cool brisk morings, rain, colorful foliage…it's one of the most beautiful times on the year. In preparation for fall, check out this home maintenance checklist.

Here’s Your Fall Home Maintenance Checklist:

 

Posted in Living by Tara Sharp
 

Fall is an ideal time to tackle maintenance projects both inside and outside. Here are a few ideas to get you started:

Gutters top to bottom: Water in the wrong spots can do a lot of damage. Start by ensuring that gutters and downspouts are doing their job. (Don’t attempt this task yourself if you have a two-story house with a steep roof; hire a professional instead.) If your home is surrounded by deciduous trees you may need to clean out your gutters a few times a year, especially in the fall. Check to make sure your gutters are flush with the roof and attached securely, repairing any areas that sag or where the water collects and overflows. Clean out the gutters and downspouts, checking that outlet strainers are in good shape, and are firmly in place. Finally, check that your downspouts direct water away from your house, not straight along the foundation.

If you haven’t already, you may want to consider installing gutter guards. Gutter guards create a barrier so water can get through to your gutters, but debris cannot, limiting gutter buildup (and the time you spend cleaning out your gutters). There are DIY installation kits available or you can always hire a professional to install a gutter guard system.

If you have a sump pump under your house, now is a good time to test it. Run a hose to be sure draining water travels directly to the pump (dig small trenches if needed), and that the pump removes the water efficiently and expels it well away from the foundation. For more information about how sump pumps work go to howstuffworks.com.

Check for leak: The best opportunity to catch leaks is the first heavy rain after a long dry spell, when roofing materials are contracted. Check the underside of the roof, looking for moisture on joints or insulation. Mark any spots that you find and then hire a roofing specialist to repair these leaks. What you don’t want to do is wait for leaks to show up on your ceiling. By then, insulation and sheet rock have been damaged and you could have a mold problem too.

Don’t forget the basement. Check your foundation for cracks, erosion, plants growing inside, broken windows, and gaps in window and door weathering.  Make sure to properly seal any leaks while the weather is nice. This will ensure materials dry properly.

Pest Prevention: Rodents are determined and opportunistic, and they can do tremendous amounts of property damage (and endanger your family’s health). As temperatures cool, take measures to prevent roof rats and other critters from moving in. Branches that touch your house and overhang your roof are convenient on-ramps for invaders, so trip back branches so they’re at least four feet from the house. If you do hear scuttling overhead or discover rodent droppings in your attic, crawl space or basement, take immediate action. The website http://www.thisoldhouse.com has several helpful articles on the topic.

Maintain your heating and cooling systems: Preventative maintenance is especially crucial for your home’s heating and air-conditioning systems. Fall is a smart time to have your systems checked and tuned up if necessary. Don’t wait for extreme temperatures to arrive, when service companies are slammed with emergency calls. Between tune-ups, keeps your system performing optimally by cleaning and/or replacing air filters as needed.

If you have a wood-burning fireplace, a professional inspection and cleaning will help prevent potentially lethal chimney fires and carbon monoxide poisoning. Even if you don’t use your fireplace often, always keep a supply of dry firewood or sawdust-composite logs so you have a backup heat source in an emergency.

Insulate & seal: Insulating your home is a cost-efficient investment, whether you’re trying to keep the interior warm in the winter or cool in the summer. Aside from more major improvements like energy-efficient windows and insulation, there are some quick fixes that do-it-yourselfers can tackle. If an exterior door doesn’t have a snug seal when closed, replace the weather stripping; self-adhesive foam stripping is much simpler to install than traditional vinyl stripping. If there is a gap under the door (which can happen over time as a house settles), you may need to realign the door and replace the vinyl door bottom and/or door sweep. Air also sneaks inside through electrical outlets and light switches on exterior walls. Dye-cut foam outlet seals placed behind the wall plates are a quick and inexpensive solution.


Posted on September 25, 2014 at 6:00 pm
Windermere Shady Cove | Posted in Home | Tagged , , , ,

Rentals

rentals

Do you handle rentals?

That is a question that we receive daily at the office. Although we do not do any property management, we do have a contact for you for rentals in the Upper Rogue area:

 

 

Local Property Management LLC

Doug West

(541) 826-8283

Many people post rentals on Craigslist so try there too.


Posted on August 8, 2014 at 4:35 pm
Windermere Shady Cove | Posted in Misc. | Tagged , , , , , , , , ,

Salmon Fever on the Upper Rogue

Are you ready to catch the BIG ONE? Saturday, June 7, 2014 is Shady Cove's first ever fishing derby on the Upper Rogue River. Here are some details of the event:

• There will be a $1,000 first prize, a $500 second prize and a $250 third prize and lots other prizes, including prizes for kids.

• Participants may fish from the bank or from boats in any legal fashion between the Hatchery Hole down to the Takelma boat ramp downstream of Shady Cove.

• Weigh-ins will occur throughout the day at the Jackson County Regional Park in Shady Cove, with the final weigh-in at 4 p.m. Prizes will be awarded at 4:30 p.m.

• For weigh-ins, all salmon must be cleaned and gilled. In case of a tie, the fish weighed in first will be declared the winner.


Posted on June 6, 2014 at 6:37 pm
Windermere Shady Cove | Posted in Events | Tagged , , , , , ,