Oregon Receives $88 Million in Foreclosure Prevention Aid!

It was announced today that Oregon would be one of five states to receive Federal assistance directed to unemployed homeowners threatened with foreclosure.

Funds were allocated to states having designed targeted programs determined by the Treasury Department to have the potential to make a significant impact for homeowners in financial difficulties.

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Stimulus Package Helps Homeowners Weatherize!

The weather may be warm now, but as we all know here in the Pacific NW, cooler weather is just around the corner! If you have been thinking about weatherizing your home this may be a good time to do it as some energy saving tax credits are set to expire at the end of this year.

The American Recovery and Reinvestment Act, also known as the Stimulus Package, pumped $5 Billion dollars into the Department of Energy's Weatherization Assistance Program. This means thousands of dollars are being made available to homeowners wishing to bring their energy costs down.

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10 Home Repairs That Will Save You Money!

The number of foreclosures and short sales continue to climb nation-wide and in the Pacific Northwest. Once thought by some to be immune to the housing bubble, due to land use laws and growing populations, Oregon and Washington are experiencing large numbers of distressed sales. If you are wondering when the real estate market will turn around, watch the job numbers. As we see a growth in job creation we will see increasing activity in the housing market. Some are now predicting early 2011 for a noticeable turnaround to start taking hold.

For those looking at holding off for now getting into the housing market, consider some relatively simple and inexpensive home maintenance items. While not glamorous, they can save a lot of money in the long run.

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Tax Ramifications on Foreclosures & Short Sales

In a short sale, the owner's loan holder(s) agrees to accept a payoff that is less than the amount owed on the loan. Typically the IRS considers this ‘debt forgiveness' as income which in turn creates a tax liability for the homeowner. Thanks to the Mortgage Debt Forgiveness Act of 2007, this tax liability is eliminated, provided the debt being forgiven was money used to purchase or significantly improve the home. The home also has to have been your primary residence.

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New Housing Shortage?!

Given all the homes coming on the market the past couple of years due to foreclosures and short-sales, if someone told you we could have a new housing shortage as soon as next year you'd think they had lost their mind. Well, that's exactly what some experts in the housing industry are predicting.

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The Danger from Roof Moss/Algae

Millions of roofs in the United States are plagued with roof moss and roof algae, particularly here in the Pacific Northwest where we have been known to get a little moisture from time to time. Although these organisms themselves do not cause damage, they trap water which accelerates wear and tear to your roof. It is very easy to clean and treat moss and algae and keep it from growing again, but left unattended and you are opening yourself to a great deal of expense that is easily avoidable.

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