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Janeese Jackson's Blog

By Janeese Jackson | Broker in Portland, OR

Are You "Under-Water" on Your Mortgage in Multnomah County?? Good News!

"Take Me to the Pilot" - Elton John

Multnomah County has been approved as a one-county  "pilot program" starting in April that would allow homeowners who owe more than their home is worth to possibly refinance.  This could be HUGE for local homeowners residing in the county.  If your mortgage is in a precarious situation OR could be, please take a look at this.  Remember, if you have an adjustable mortgage and it's "OK" now, interest rates WILL be increasing over time.  If your mortgage has reset to an unacceptable amount for your personal situation, this could be your salvation.  We don't yet know what the qualifying parameters are, but it's worth knowing about.  See this Oregonian article and the best of luck...but, don't rely on luck...do whatever is needed to make this happen.

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