07-15-2019  1:22 pm   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

Tobacco in Oregon: Cheap, Sweet, Plentiful and Sold at Kids’ Eye Level

New report shines light on tobacco industry marketing across Oregon

Hope for Historical Preservation in Portland’s Black Neighborhoods

The current preservation movement is about shifting focus to the preservation of cultural heritage sites, and Black history advocates have reason to hope this means better protection in historically African American neighborhoods

Edwards Retires

After 10 years with the city and decades as a ‘community mom,’ Antoinette Edwards is retiring to ‘be still for a while’

TriMet Brings Yellow Line Up To Speed in North Portland

Upgrades will allow the line to run at regular speeds during higher temperatures

NEWS BRIEFS

Police Evacuate City Hall, Close Terry Schrunk Plaza

City Hall closed due to suspicious package ...

Oregon Settles with Health Insurer Premera Over Data Breach

Oregon to receive jumi.3 million from settlement ...

Michael Lewellen Appointed New Vice President for Marketing and Communications at University of Portland

Former Portland Trail Blazers executive steps into new role July 15 ...

John Morrow, Jr. Receives Award for Lifetime Achievement in Military Writing

Morrow, military historian and author, is the first African-American recipient of the Pritzker Military Museum & Library...

Jeff Merkley Book on Refugees to be Published in August

'America is Better than This' will be published by an imprint of Grand Central Publishing ...

Oregon schools must teach the Holocaust

SALEM, Ore. (AP) — Oregon will require public schools to teach about the Holocaust and other genocides.Gov. Kate Brown signed a bill Monday to add Holocaust instruction to the school curriculum starting in the 2019-2020 school year. Eleven other states require some level of genocide...

Toddler struck, killed by father backing up vehicle

OTIS, Ore. (AP) — Authorities say a toddler was struck and killed in northwestern Oregon by a pickup truck his father backed out of the driveway.KOIN reports that emergency responders rushed to the home in Otis, Oregon, around 9:45 p.m. Sunday, authorities said in a release. The pickup's...

The Latest: Missouri still awaiting decision on NCAA appeal

HOOVER, Ala. (AP) — The Latest on SEC media days (all times local):2:05 p.m.Missouri coaches and players feel good about the Tigers' football team, especially after adding former Clemson quarterback Kelly Bryant to a veteran offense during the offseason.That's led to lofty goals for the...

Former Missouri football coach Pinkel says cancer returned

COLUMBIA, Mo. (AP) — Former Missouri football coach Gary Pinkel says he is being treated for cancer again.Pinkel told ABC17 TV in Columbia Saturday that he had treatment last month after his cancer came out of remission for the first time in four years.Pinkel retired after the 2015 season...

OPINION

Hearing on H.R. 40 Puts Reparations Debate in National Spotlight

“These are the vestiges of enslavement that people don't want to deal with,” said Dr. Julianne Malveaux, the former President of Bennett College. ...

Perfecting the Cat Nap: Lessons on Sleep From a Cat

Watching Soleil's languorous lifestyle has inspired me to establish better sleeping habits which have led to increased happiness and productivity. ...

Happy Independence Day!

The Skanner would like to wish all of our readers a relaxing and safe 4th of July. Wondering about the history and science of fireworks? ...

Plastics Are Strangling the Planet

You have probably heard about islands of plastic (and other garbage) inhabiting our oceans. The impact of this is the dying off of entire segments of oceans. In addition, many countries in the global North, including but not limited to the USA, look at the...

AFRICAN AMERICANS IN THE NEWS

The Latest: Charlottesville victims describe pain of attack

CHARLOTTESVILLE, Va. (AP) — The Latest on the state sentencing of a man convicted on federal hate crime charges related to a white nationalist rally (all times local):4 p.m.A woman who was seriously hurt in a car attack on anti-racism protesters during a white nationalist rally in Virginia...

After Supreme Court ruling, NC gerrymandering case begins

RALEIGH, N.C. (AP) — A partisan gerrymandering trial began Monday in North Carolina, where election advocacy groups and Democrats hope state courts will favor them in a political mapmaking dispute that the U.S. Supreme Court just declared is not the business of the federal courts.Lawyers for...

Some in GOP rebuke Trump, but party leaders still silent

WASHINGTON (AP) — Top Republicans remained largely silent after President Donald Trump said over the weekend that four women of color in Congress should "go back" to the countries they came from. By Monday, some in the party were speaking up.Several GOP senators, and some House Republicans,...

ENTERTAINMENT

Fox 2000 chief joins Sony after being jettisoned by Disney

NEW YORK (AP) — Elizabeth Gabler, whose Fox 2000 produced acclaimed literary adaptations like "Life of Pi" and "Hidden Figures" before being axed in the aftermath of the Walt Disney Co. acquisition, has found a new home at Sony Pictures.Sony on Monday announced a new production deal with the...

'Spider-Man' does victory lap over 'Crawl,' 'Stuber'

LOS ANGELES (AP) — "Spider-Man: Far From Home" is celebrating another weekend at No. 1, but non-franchise fare continues to struggle at the box office. Fresh studio-released counterprograming such as the horror movie "Crawl" and the action-comedy "Stuber" barely made a dent in the...

State investigating Wally Lamb's inmate writing program

HARTFORD, Conn. (AP) — The state of Connecticut is investigating an inmate writing program run by author Wally Lamb after a lawsuit was filed this spring by participants.The lawsuit alleges the inmates have not been paid for their contributions to Lamb's third anthology of writings designed...

U.S. & WORLD NEWS

Trump nominates Esper to be defense chief, succeeding Mattis

WASHINGTON (AP) — President Donald Trump on Monday asked the Senate to confirm Mark Esper as the successor...

Scientists close in on blood test for Alzheimer's

LOS ANGELES (AP) — Scientists are closing in on a long-sought goal — a blood test to screen people...

Final blast of torrential rains unleashed by weakened Barry

NEW ORLEANS (AP) — Tropical Depression Barry spared New Orleans from catastrophic flooding, but it still...

India aborts moon mission launch, citing technical glitch

SRIHARIKOTA, India (AP) — India aborted the launch on Monday of a spacecraft intended to land on the far...

Italian police clear migrant squatters amid burning debris

ROME (AP) — Migrants and squatters set up burning barricades at an abandoned school outside Rome on Monday...

Telescope foes tie together, block road to Hawaii summit

MAUNA KEA, Hawaii (AP) — Hundreds of demonstrators gathered Monday at the base of Hawaii's tallest mountain...

McMenamins
Les Christie

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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