If you follow the Bend Oregon Real Estate market, you know that it’s seems to be improving every week as conditions here mimic the nationwide Real Estate market in the form of a short supply of available homes and high demand.
One of the biggest questions that homeowners in Bend have right now as the Real Estate market continues to improve is what difference Government programs have made towards helping underwater homeowners get their mortgages back on track, and stop the decline of the Real Estate market, which was a result of the Economic Recession?
Home Affordable Modification Program
Thanks to programs like: Home Affordable Modification Program (HAFA) homeowners who are underwater on their mortgages have been able to get back on track and as of May 2013, over 1 million people across the United States have been able to save close to $20 billion dollars on their underwater mortgages and that $20 billion dollars amounts to an average saving of almost $550 per month for a typical homeowner with an underwater mortgage.
Loss Mitigation Assistance
Besides HAFA, Federal Programs have also been able to help underwater mortgage holders in other ways including los mitigation assistance, and close to 2 million Americans have benefited from this program as well.
Getting a mortgage back on track is huge for any homeowner in the United States, including homeowners in the Bend Oregon Real Estate market who have been able to their homes recently, even at a profit, which helped them to move onto another home and get back on the right track financially after the crisis from the previous five years.
What To Expect For The Remainder Of 2013
Real Estate experts in Bend and across the United States agree, the rebounding housing market is here to stay and conditions like low mortgage interest rates and low inventory are expected to continue to make the 2013 Real Estate market ideal for homebuyers in Bend and nationwide who are considering buying a vacation home, second home, income property or more.
To learn more about the current Bend Oregon Real Estate market, or to view the latest Bend Oregon homes for sale, contact me today by calling (541) 383-1426.