09-23-2020  3:42 pm   •   PDX and SEA Weather
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NORTHWEST NEWS

Seattle City Council Overrides Mayor's Veto of Policing Cuts

Seattle will reduce the police department’s budget and reallocate some money to community programs

US Judge Blocks Postal Service Changes That Slowed Mail

The Yakima, Washington judge called the changes “a politically motivated attack on the efficiency of the Postal Service” before the November election.

Black and Jewish Community Join to Revive Historic Partnership

United in Spirit Oregon brings together members of the NAACP, Jewish Federation of Greater Portland, others to serve as peacemakers 

Feds Explored Possibly Charging Portland Officials in Unrest

Federal officials were told that Portland police officers were explicitly told not to respond to the federal courthouse

NEWS BRIEFS

Black Leaders Endorse Sarah Iannarone for Portland Mayor

Iannarone seeks to unseat an embattled Mayor Ted Wheeler, who has increasingly high unfavorable approval ratings. ...

Today in History: Senate Confirms Nomination of First Female Justice to Supreme Court

On Sept. 21, 1981, the Senate unanimously confirmed the nomination of Sandra Day O’Connor to become the first female justice on the...

Free Masks and Gloves Now Available for Small Businesses

Businesses with fewer than 50 employees that are headquartered in Oregon with principal operations in Oregon are eligible. ...

Forest Service Explains 'Containment'

US Forest Service, Riverside Fire provides a special update to explain how they achieve wildfire containment. ...

Oregon Receives Approval of Federal Disaster Declaration for Wildfires

Decision will enable federal aid to begin flowing, as unprecedented wildfires ravage state and force evacuation of thousands ...

Latest Oregon revenue forecast increases by [scripts/homepage/home.php] billion

SALEM, Ore. (AP) — Oregon economists presented a “shocking” and significantly improved revenue forecast Wednesday, which could leave the state's current budget nearly unscathed by the economic impacts of COVID-19. Despite the forecast, which is [scripts/homepage/home.php] billion more than predicted in...

Portland denies permit for right-wing rally, cites COVID-19

PORTLAND, Ore. (AP) — Portland, Oregon, has denied a permit for a Saturday rally planned by the right-wing group Proud Boys.The city found the group’s estimated crowd size of 10,000 people was too big under coronavirus safety measures, according to a statement released Wednesday by...

Mizzou's Drinkwitz: transparency trumps competitive edge

KANSAS CITY, Mo. (AP) — Eli Drinkwitz could have kept private the COVID-19 testing numbers within the Missouri football program.The new coach of the Tigers could have pleaded ignorance when it came to the number of positive results, or the amount of contact tracing that has been done. He...

College Football Picks: SEC start in most unusual season

The Southeastern Conference is set to kick off its 10-game, league-only schedule, making this Saturday the most normal-feeling yet of a most unusual season. As of Wednesday, all the SEC openers were still on. The Big 12 and Atlantic Coast Conference were also scheduled to have all their teams...

OPINION

ACLU Statement on Breonna Taylor Grand Jury Verdict

Carl Takei, senior staff attorney with the ACLU’s Criminal Law Reform Project, issued a statement about today's charges ...

True Justice Denied to Police Murder Victim Breonna Taylor, Greenlining Institute Says

The organization's president and CEO releases a response to today’s announcement of only minor charges -- "wanton endangerment" -- for one of the Louisville police officers who shot and killed Breonna Taylor. ...

Defeating a Demagogue: A Reminder from History

Mel Gurtov dedicates this column to Justice Ruth Bader Ginsburg, whom he calls "a warrior for human rights, decency, and the rule of law" ...

SPLC Statement on the Passing of Rev. Robert S. Graetz Jr.

Graetz was the only white clergyman to publicly support the Montgomery Bus Boycott ...

AFRICAN AMERICANS IN THE NEWS

Celebs, long vocal about Breonna Taylor case, decry decision

NASHVILLE, Tenn. (AP) — For months, actors, sports stars, musicians and other celebrities have been using their platforms to call for justice in the police shooting death of Breonna Taylor, including at Sunday's Emmy Awards. Her picture was used on the cover of O:The Oprah Magazine this year...

Police officers not charged for killing Breonna Taylor

LOUISVILLE, Ky. (AP) — A Kentucky grand jury brought no charges against Louisville police for the killing of Breonna Taylor during a drug raid gone wrong, with prosecutors saying Wednesday that two officers who fired their weapons at the Black woman were justified in using force to protect...

Anger, tears for protesters seeking justice for Taylor

LOUISVILLE, Ky. (AP) — Angry, confused and shedding tears, demonstrators who spent months calling for justice in the fatal police shooting of Breonna Taylor resumed their protests Wednesday after prosecutors announced a single officer had been indicted — but not on charges involving...

ENTERTAINMENT

Success of Ginsburg film inspires CNN look at John Lewis

NEW YORK (AP) — Indirectly, the late Supreme Court Justice Ruth Bader Ginsburg inspired CNN Films' new documentary on the life of civil rights icon Rep. John Lewis.The unexpected commercial success of the “RBG” film in theaters two years ago had CNN looking for another...

Thomas Rhett, Kelsea Ballerini, Luke Combs top CMT noms

NASHVILLE, Tenn. (AP) — Ashley McBryde, Dan + Shay, Kelsea Ballerini, Luke Combs, Sam Hunt and Thomas Rhett top the 2020 CMT Music Awards nominations with three each.In nominations announced Wednesday for the pandemic-delayed show, 14 videos are vying for the top prize of video of the year....

Celebs, long vocal about Breonna Taylor case, decry decision

NASHVILLE, Tenn. (AP) — For months, actors, sports stars, musicians and other celebrities have been using their platforms to call for justice in the police shooting death of Breonna Taylor, including at Sunday's Emmy Awards. Her picture was used on the cover of O:The Oprah Magazine this year...

U.S. & WORLD NEWS

Utility equipment eyed as possible source of fire near LA

LOS ANGELES (AP) — Federal investigators are looking into whether a huge wildfire near Los Angeles was...

Trump, social media, right-wing news stir up antifa scares

LEITCHFIELD, Ky. (AP) — The group gathered around the town square, waiting for the arrival of what has...

Former staffer: White House politicized Bolton book review

WASHINGTON (AP) — Trump administration officials repeatedly exerted political pressure in an unsuccessful...

'The port came to us': Story behind AP photo of Beirut blast

JIYYEH, Beirut (AP) — When Mustafa Kinno felt the ground shake and heard the deafening blast toward the...

Cold diggers? UN finds a record low in Greenland ice in 1991

GENEVA (AP) — For all the recent talk of global warming, climate historians hunting for past temperature...

They said it: Leaders at the virtual UN, in their own words

Lots of leaders saying lots of things about lots of topics — topics that matter to them, to their regions,...

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NEW YORK (CNNMoney) -- Borrowers who lost homes to foreclosure during the housing bust are starting to buy again.

Since the housing bubble burst, 4.8 million borrowers have lost their homes to foreclosure, and another 2.2 million gave them up in short sales, according to RealtyTrac. While many are still struggling to recover financially, a growing number are starting to bounce back -- and they are looking for a new place to call home.

Susan Edwards and her husband, Dave, lost their Palmdale, Calif., home in 2010 after Susan's severe arthritis made it impossible for her to work her medical device sales job.

The medical bills soon piled up and the couple could no longer afford their $2,300 monthly mortgage payment. In addition, their home's value had plunged 40 percent below the $325,000 mortgage balance.

"We were living under such pressure," she said. "We looked at the numbers and knew we had to default."

After the foreclosure, Susan's credit score had taken a 70-point hit; Dave's score fell even further.

By paying all of the bills on time, they nursed their credit scores back to health. And in December, two years after they lost their old home, the couple was able to buy a new home with a loan backed by the Veteran's Administration. VA-insured loans can be obtained just two years after a foreclosure, according to the Mike Frueh, director of the VA's Loan Guaranty Program.

The new house is a lot like the Edwards' old one, with one big improvement: The mortgage payment is $1,150 a month -- roughly half the amount they used to pay.

"[After bankruptcy], foreclosure is one of the things that hits your credit score the hardest," said Anthony Sprauve, a spokesman for FICO.

Foreclosures and short sales usually knock about 85 to 160 points off a credit score. Scores suffer less if you pay at least the minimum on all your other bills on time and only allow your mortgage payments to go unpaid, said Jon Maddux, the CEO of YouWalkAway.com, which offers advice to defaulting mortgage borrowers.

Once the damage is done, it can take three to seven years for a score to fully recover. But some lenders are willing to work with borrowers earlier than that.

Mortgage giants Fannie Mae and Freddie Mac, for example, require defaulters to wait five years -- and have a minimum credit score of 680 and put 10 percent down -- before they can purchase a home again. If they don't meet that criteria the wait is seven years, at which point the foreclosure is expunged from a person's credit report.

If defaulters show that extenuating circumstances caused the foreclosure -- such as a health issue that prevented them from working, a layoff, a divorce or other one-time event -- the wait may be reduced to three years.

The Federal Housing Administration allows banks to issue FHA-insured loans to borrowers three years after a foreclosure or a short sale in which the borrower was in default.

Tony and Ginger Read, who live with their three kids outside of Boise, Idaho, took four years to rebuild their credit after they sold their home in a 2008 short sale. Tony had been laid off and the couple had already sold their camper and other valuables in a fruitless effort to keep their home. Eventually, a broker convinced them to sell.

"It was the hardest thing we ever had to do but we couldn't afford the payments," said Ginger.

Tony now has a job supervising a sand and water pumping crew for the fracking industry and the couple's credit score has regained more than half of what it lost.

In January, they were approved for a 4 percent interest FHA loan on a $280,000 house in Fruitvale, Idaho. They close April 12.

Mike Edgar, the broker who worked with the Reads to sell their home and buy a new one, has worked with several clients to help them repair their credit and, when they're ready, buy new homes.

In 2012, he worked with 15 "boomerang" buyers, about a quarter of his sales. He expects that number to double in 2013.

Tim Duy, a business manager in Verrado, Ariz., and his wife Christina, lost their house in April 2011. They're eager to become homeowners again, but for now they're concentrating on repairing their credit. The foreclosure, which knocked Duy's credit score down 200 points to below 600, has since rebounded to 730.

Meanwhile, the couple window shops. "We're in the penalty box for another year, maybe," said Duy. "I see houses just what we want selling for $185,000. I would jump all over that if I could."

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