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Oregon Real Estate Law

A Critical Change to Borrower Deficiency Liability

A Critical Change to Borrower Deficiency Liability For anyone involved in the real estate finance industry in Oregon, one should be aware of a critical change in the definition of a “residential trust deed”, which occurred when Governor Kitzhaber signed HB 3389 this past Friday, July 19, 2013. This change is the third iteration of […]

The New Three Transaction Exception In Oregon

THE NEW THREE TRANSACTION EXCEPTION IN OREGON FOR SELLER FINANCINGS: BE WARY! Question: I am a licensed real estate broker in Oregon, and am representing a seller of a single family rental property who is interested in offering seller financing. The client does not live in the property and has never lived in the property. […]

Fair Housing – No No Words/Phrases

Fair Housing – NO NO WORDS/PHRASES Question: I am an Oregon real estate broker. I read a recent article about a Florida real estate broker who was sued because of remarks in an MLS listing which violated the Fair Housing Act (FHA), and it wasn’t even the broker’s listing! Do I have the same exposure? […]

Further Reflections: Showing A Tenant Occupied Property

FURTHER REFLECTIONS: SHOWING A TENANT OCCUPIED PROPERTY Question: I am a licensed real estate broker and read with interest your last column on the showing of a tenant occupied property which is listed for sale. It raised a number of questions on my part: a. The MLSCO Listing Contract for Central Oregon provides that the […]

Selling A Rental Property? Know The Tenant’s Legal Rights.

SELLING A RENTAL PROPERTY? KNOW THE TENANT’S LEGAL RIGHTS. Question: I am a licensed real estate broker. I have a client property owner who wants to list their rental property with me for sale and it is occupied by a tenant under a rental agreement. As is standard procedure for handling a listing, I am preparing to […]

Underwater Loan Modifications

Underwater Loan Modifications: Just Kicking the Mortgage/Housing Crisis Can Down The Road? Question: I have one loan against my home which has a balance substantially greater that the current market value. I am in default on the loan, in danger of foreclosure, and have received an unsolicited long term loan modification, which does not include any […]

Debt Relief, Short Sales, Deficiencies, Oh My!

Debt Relief, Short Sales, Deficiencies, Oh My! (think Lions, and Tigers and Bears …) Question: I am considering selling my home in a short sale, but my Oregon real estate broker has told me that I may be subject to taxes because of the December 31st expiration of a federal act providing relief to distressed […]

Renter’s Insurance

Renter’s Insurance Question: I am the owner of several residential rental properties. I have heard about renter’s insurance, and that I should require my tenants to obtain this insurance because it will protect my interests. Can I do so, what are the benefits of such insurance and should I have my name added to the […]

BE SAFE: Comply with S.A.F.E.!

BE SAFE: Comply with S.A.F.E.! Question: I am a licensed real estate broker in Oregon, and have been asked to represent a seller who wants to offer seller carryback financing. Do I need to be concerned about any laws which may specifically apply to such terms? Answer: Yes! You must be thinking of Oregon’s version […]

HAFA Short Sale Preapproval Letters

HAFA SHORT SALE PREAPPROVAL LETTERS (Read The Fine Print!) Question: My home is underwater. I have both a first position loan and a second position loan. The current property value is less than the amount owing on the first position loan, and the balance owed on the second position loan is $100,000. I just received […]

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