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re:PDX is written by Ron Ares, broker and market analyst affiliated with M Realty LLC in Portland, Oregon.
Phone: 503-460-7992
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Why Your Bank May Not Be Interested in Working Out Your Mortgage Problem
Lost in the breathless excitement surrounding low interest rates and homebuyer tax credits are the stories of beleaguered homeowners trying to work out their mortgage problems with their lenders in lieu of foreclosure.
Here’s a 4-minute video showing why (some) banks aren’t really interested in HARP refinances or modification:
Hat tip to Ralph Olson at Pacific West Appraisal.
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