The latest market report for the Portland Real Estate market shows a steady level of continued price reductions on homes for sale around the Portland Metro area. Back in August we talked here on the McDonald Group Real Estate blog about the Portland Business Journal article stating that thirty-two percent of Portland homes for sale in early summer experienced at least one price reduction, ranking Portland No. 16 on Trulia’s list of price reductions in America’s 50 largest cities. Those numbers are sticking around.
Since the HVCC appraisal system has been implemented appraisal fraud is up in spite of the new laws setup to avoid just that. It’s said that properties are being valued higher than their true value (interesting as my experience is the opposite). TBWS (my favorite morning video news guys in the link below) have something to say about this! I would like to say AGAIN how HVCC has complicated the process of home buying. If your lender isn’t on the ball the appraisal delays can kill a deal; a GOOD LENDER IS CRUCIAL TO THE SUCCESS OF YOUR HOME PURCHASE!
Wow, that would really effect home purchases! Watch my favorite daily video guys “TBWS”. They are hilarious as well as informative. Watch Video: 
Senate Bill 628 is congested with too many words for me to read thoroughly but it “sounds” like all it is is a law that says that lenders must send homeowners a notice of clear instructions on who and how to can contact someone via phone or in person to discuss whether they would qualify for a loan modification. (We know that few homeowners will have the opportunity to meet with someone in person)
Premier Mortgage Group here in the Portland area and has offered to write a blog entry for us here and there about whats going on in lending, here is his very first entry!
These guys are great! I watch them with morning coffee every morning! Lender topics that effect lenders, real estate agents, home buyers & sellers! -Kristie McDonald Your Portland, Ore Realtor! 
3.5% down being the big one, but also the MI, or Mortgage Insurance, is cheaper than with conventional loans with say 5% down. While these programs do help get buyers into homes, there are times where they work against the buyer and on occassion cost the buyer hundreds of dollars in losing a home or thousands more than initially agreed upon with the seller to be able to get it; this is the focus of today’s blog entry.
The below comes directly from Bruce our blogging lender with Landover Mortgage in response to the recent announcement that the $8,000 may be available at the closing table (or at the time of purchase). To read an article on the topic: 
I get asked about about credit scores all the time, particularly because there are 3 different sources from which they come. I recently spoke with Bruce Howard of Landover Mortgage (his link is below) and he stated that the credit score is derived by pulling all three scores (Equifax, TransUnion, Experian) and using the report score that falls in the middle. If two applicants are involved then the same method is used taking the lower score of the two applicants. 