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Oklahoma rank: 20 90+ Day 2.17% 2.21% -1.65% 90+ Day 3.84% year ago 2.81% percent point change 36.93% -8.24% Top Core-Based Statistical Area FORT SMITH, AR-OK 90+ Day 2.06% year ago 2.75% percent point change -24.86% 29.10% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the June 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary June 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. -29.09% 5.19% 3.29% percent point change -18.37% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the June 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary June 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Delinquency Rate june 2012 6.70% 2.33% year ago 6.17% Foreclosure Rate -32.72% 8.49% 3.28% percent point change -11.66% Top Core-Based Statistical Area BEND, OR 90+ Day Delinquency Rate june 2012 5.04% Foreclosure Rate Delinquency Rate Foreclosure Rate june 2012 3.33% year ago 2.91% percent point change 14.33% Top County ADAIR COUNTY Delinquency Rate june 2012 7.79% 2.21% year ago 8.49% Unemployment Rate 4.7% 6.1% -23.0% Foreclosure Rate Oregon rank: 18 90+ Day 2.10% 2.32% -9.68% 90+ Day Delinquency Rate Foreclosure Rate june 2012 3.53% year ago 3.43% percent point change 3.01% Top County CROOK COUNTY Delinquency Rate june 2012 7.50% Unemployment Rate 8.5% 9.6% -11.5% Foreclosure Rate Oregon Senator Proposes Refi Plan Funded with Bond Sales are underwater, according to the latest data from CoreLogic. That's about 11.4 million homeowners who owe more on the loan than their home is worth. The federal government has made at- About 24 percent of mortgage borrowers tempts to help these struggling homeown- ers with its Home Affordable Refinance Program—versions 1.0 and 2.0—but the program has reached just 1.3 million borrow- ers since its debut in 2009, according to data from the Federal Housing Finance Agency (FHFA). While FHFA reports the program is making progress, one Oregon senator is taking matters into his own hands, announc- ing a new plan and urging that it be "piloted immediately." Sen. Jeff Merkley's (D-Oregon) plan Oklahoma IN THE NEWS Oregon Bill Lets Homeowners Meet Lender Face-to-Face patslack@remax.net RE/MAX PROS PAT SLACK 405.722.3636 405.476.7653 CRS STAT INSIGHT $4,589 Oklahoma in 2011, the seventh highest in the nation. Source: Bankrate Average closing cost in 134 behind on payments can talk face-to-face with their lender to work out a resolution other than foreclosure. Senate Bill 1552, which took effect July 11, allows struggling homeowners to meet with their lender with a mediator in a neutral location. Homeowners who have received a notice In Oregon, homeowners who are falling of mediation from their lender and those considered "at-risk" of default qualify for mediated assistance. The program requires homeowners who received a mediation notice to respond by the deadline specified and pay a $200 fee. Not responding by the deadline disqualifies homeowners from program mediation. Through the program, homeowners will also meet with a housing counselor who will help with the completion and submission of financial documents for mediation and explore other workout options that might be applicable. would allow underwater homeowners to refinance at lower interest rates through the creation of a Rebuilding American Home- ownership Trust. Merkley says banks won't refinance loans for underwater borrowers because "there is no one who will buy that loan." "So let's change that," he says standing before a white board on which he illustrates his plan in simple terms via a YouTube video. Merkley's plan establishes a one-time trust he says is similar to the Homeownership Loan Corporation created during the Great Depression. As banks refinance underwater homeowners, the trust would purchase those loans from the banks. Meanwhile, the trust would receive funding from bond sales. "The beauty of this arrangement is that not a single tax dollar goes into it," Merkley says in his video. The trust would support three types of loans: 15-year loans at a low interest rate, 30-year loans at a low interest rate, and a two-part loan consisting of a collateralized and uncollateralized loan. The uncollateral- ized loan would neither accrue interest nor receive payments for five years. Merkley's newly released plan has already received some approval. Acknowledging that America's economic recovery is held back by $700 billion in negative home equity, Dr. Joseph Stiglitz, an economics professor at Columbia University, asserts, "If adopted, this proposal would help to stabilize the

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