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The TOTAL Experience | 
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We look forward to assisting you with all of your real estate needs. Visit our team of professionals online or in our beautiful office space in the heart of Bend's Westside.
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Mission Imbocceballs
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Total Property Resources brokers (left to right: Molly, Cheri, Marci, and Christine) participated in the first ever AmeriTitle 'Balls of Fury' Bocce Ball Tournament fundraiser as team Mission Imbocceballs. They took 1st place in Best Costume winning $250 for their charity of choice, Special Olympics Oregon High Desert.
The winning team of the tournament also chose Special Olympics Oregon High Desert as their charity of choice.
Nearly $4,000 was raised and will be presented to Special Olympics Oregon High Desert on July 3rd.
It was a very exciting day!
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Happy 4th of July
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Annual July 4th Festival & Pet Parade:
July 4, 2012
Downtown Bend
& Drake Park
For More Information and other Community Events: click here.
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Ask us about our
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"Homeowner Advocacy and Legal Options Program"©™
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July 2012 |
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TO: Friends of Total Property Resources (TPR) and
Total Property Management Services (TPMS)
Summer is now finally upon us (although the weather may not always cooperate), and it is with great pleasure TPR announces our inaugural issue of "TOTAL DIRT," a planned monthly e-newsletter. You may ask, where does the name come from? DIRT has several meanings which we thought made it appropo for the title of the e-newsletter.
First, it can refer to the earth or land and, of course, TPR is a real estate sales brokerage company handling the purchase and sale of all manner of earth-based products, including bare lots, single family residential properties, townhomes, multi-plexes, and so on, and TPMS is involved in the management of those properties.
Second, it can refer to getting the inside scoop on a person or property or event. That is what the brokers at TPR and TPMS can provide for their clients -- effective, knowledgeable information about the Central Oregon community, developments in real estate, trends affecting valuation, and other matters of critical interest to either a buyer or seller of real estate.
We are very excited about all the positive happenings in the real estate market in Central Oregon, and also want to share some insights with you now and in future issues relating to the real estate and finance markets not only locally, but also nationally. Given that one of TPR's principals, David R. Ambrose, is the CEO and an attorney with Ambrose Law Group who has been entrenched in all aspects of the real estate industry for over 30 years (real estate-focused lawyers are oftentimes referred to as DIRT lawyers), the association enables TPR to provide to our brokers and clients the education and focus on legal developments affecting real estate which may be missing from other real estate companies.
There are a number of exciting developments at TPR and in Central Oregon, which you will find addressed in this e-newsletter. Among the most important is the implementation of the State of Oregon sponsored principal reduction program known as the Loan Refinance Assistance Pilot Project (the LRAPP program). TPR's brokers and the attorneys at Ambrose Law Group have been heavily involved in the LRAPP program on behalf of clients, and through June 29th, have been involved in more successful closings through the LRAPP program than any other brokerage company in Oregon. You'll find more on this below.
The Halo Program (Homeowner Advocacy and Legal Options), a program instituted by TPR working with the attorneys at Ambrose Law Group, is now in its second year of operation, and we are pleased to announce that a significant number of homeowners have been provided no cost assistance through the HALO program as they proceed through the complex short sale process.
Each issue of TOTAL DIRT will also include a question and answer column prepared by an attorney with Ambrose Law Group addressing a topical concern affecting the real estate industry. In this inaugural issue, David Ambrose discusses the Federal Mortgage Debt Forgiveness Act, and the status of the upcoming expiration date.
We look forward to all the summer has to hold for us, and appreciate working with each one of our brokers (including Molly Brundage, our incredibly capable Principal Broker), our clients and our vendors, and look forward to working with all of you in the future. We hope you find this e-newsletter informative and welcome any and all constructive criticism.
Sincerely,
TOTAL PROPERTY RESOURCES LLC
Janis K. Alexander
Principal, Chief Operations Officer
Dirct Dial: 503.467.7237
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Great News For Underwater Homeowners
Is that possible? Yes, it is!
If you are a homeowner living in Deschutes or Jackson County and at risk of losing your home to foreclosure, or are struggling to make your payments, we want you to know about the State of Oregon and U.S. Treasury-approved program known as the Loan Refinance Assistance Pilot Project or "LRAPP."
Through the Oregon Hardest Hit Funds Program, or OHHFP, if you and your home qualify, you may be able to stay in your home and secure a new mortgage from the State of Oregon with a principal balance which approximates your property's current market value, and all without any out-of-pocket costs to you. Your mortgage payment could be reduced by 50% or more! This is a program created by the State of Oregon with your best interests at heart, and is one of the first and most unique programs in the nation.
The LRAPP program is alive and well. After opening initially in January, 2012, then closing temporarily on March 1, 2012, and re-opening on June 18, 2012, the LRAPP program is moving forward, all speed ahead. While the government agencies, Fannie Mae and Freddie Mac, and Bank of America, as a lender/servicer, are not currently participating in the LRAPP program, that may change in the future. For the time being, however, there are many other lenders/servicers who are participating in the LRAPP program, and it is one well worth the effort if you qualify, with the end game being the ability to stay in your home and with an affordable, no-gimmick mortgage through the State of Oregon, at a beginning principal balance at the approximate current market value of your home.
For the many homeowners who have closed on loans already through the LRAPP program, it has been life-changing.
Here are few current statistics for you.
1. There have been to date 21 successful closings under the LRAPP program on behalf of property owners in Deschutes County and Jackson County.
2. The average loan principal reduction is in excess of $110,000, and the average reduction in the monthly payment to be made by the homeowner is over 50%.
3. The time, start to finish for a successful closing under the program, has been less than six months.
The brokers at Total Property Resources are knowledgeable and experienced about the LRAPP program and are excited about having the opportunity to provide needed assistance to homeowners in Deschutes and Jackson Counties who have been facing bleak news for the past number of years. Our brokers are working closely with the attorneys at Ambrose Law Group, and have had more successful closings to date through the LRAPP program on behalf of clients (for first-hand testimonials, visit our website), than any other real estate brokerage company in Oregon. In our opinion, and from our experience, a successful closing through the LRAPP program takes knowledge, persistence, and aggressiveness on the part of the broker, and often requires the involvement of experienced legal counsel, which is provided at no cost to the clients of Total who are applicants in the LRAPP program through Total's exclusive HALO program.
Please contact the management of Total or any of its brokers to find out more about the LRAPP program and the HALO program and how the brokers at Total can assist you.
David Ambrose
direct dial 503.467.7217
Janis Alexander
direct dial 503.467.7237 |
Adorable 2 bedroom NW Crossing Cottage that sits on a nice corner landscaped lot w/private fenced side yard. Open floor plan, spacious living room w/hardwood floors & Vermont casting gas stove that heats the entire cottage. Nicely appointed kitchen w/alder cabinets, full slate backsplash and adjoins the dining area w/vaulted ceilings. You'll enjoy sitting and relaxing on the covered front porch. Single car attached garage w/alley access. This house would make the perfect 2nd home or starter. Great location! $239,000
For more information on this listing visit the Featured Listings on our website or contact: 
Tina Roberts, Broker Total Property Resources troberts@total-property.com O. 541.330.0588 C. 541.419.9022 |
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The Fine Print
ANOTHER REASON TO CONSIDER LISTING FOR A SHORT SALE IF YOUR PROPERTY IS UNDERWATER: 12/31/12 EXPIRATION OF THE FEDERAL MORTGAGE DEBT FORGIVENESS ACT
Q. I own a property which is underwater (the secured debt exceeds the value) and I have been considering my options, including listing the property for a short sale or just letting the property go through foreclosure. I now have heard that adding insult to injury, if one of these events occurs, I may have to pay income tax on the transaction. How can this be?
Click here for the ANSWER.
Disclaimer: this column does not constitute the giving of legal advice, and your reading this column does not create an attorney/client relationship. You are encouraged to consult a lawyer or accountant should you have questions about how this information may be applicable to your particular situation.
David R. Ambrose
Principal, Chief Executive Officer
Ambrose Law Group LLC
Direct Dial: 503.467.7217
drambrose@ambroselaw.com
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