Good Monday Morning!

It has certainly been typical January weather for the Eugene and Springfield area.  Rain-rain and more rain.  This is what makes us appreciate Spring time!

Several years back many home buyers were lured into purchasing homes with some very attractive home financing packages.  King of these attractive packages were the adjustable rate mortgages (ARM loans).  Most of these loans were made at interest rates that were well below the going rate and many with interest only payments.  This was a very attractive situation as monthly payments started out quite low and were very affordable.  The problem is that these loans are short term in duration and they adjust out down the road at rates much higher than where they originated and also with new payments that could be as much as 3 to 4 time what the home owner is currently paying.  To compound the problem, most of these loans were 100% financing and the home owner started out with 0 equity in their home.

Now the ARM loan situation has become a crisis as hundreds of thousands of these loans roll over this year and next to the new high rates.  For most of the home owners who did 100% loans, the value of their home has declined significantly since purchasing it, so going after a refinance is not in the picture.  The result of this will be hundreds of thousands of home owners who are now unable to afford their new higher home payment and also do not have a way out because they are upside down in their home.  The result of this will be another huge spike in home foreclosures over the next 18 to 24 months.  This is a very sad situation and the reality is that thousands more will lose their homes.

If you or anyone you know falls into this situation and you are caught by not having any options. The last thing that you want to do is to give your home back to the bank through foreclosure. There are options available that can make this situation easier to deal with and save your credit. If you or anyone you know faces foreclosure please log onto the webs site  It is wise to explore all of your options.

Have An Awesome Week!


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2740 W 18th Avenue
Price: $205,000 Beds: 3 Baths: 1.5 Sq Ft: 1285
This is a very nicely remodeled home with fun floor plan and great backyard. It has fresh paint, new carpet, new cabinets, new vinyl, new countertops & fixtures -- this home is priced to sell quickly and won't last long! Take a look inside today!...