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  • Local business

  • Bank of the Cascades has launched a new home loan program for people whose credit was damaged during the recession.
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  • Bank of the Cascades has launched a new home loan program for people whose credit was damaged during the recession.
    Applicants for the New Beginnings Home Loan must have lost jobs, experienced income loss, underemployment after job loss, reduction of wages or hours, a medical or health-related event or the death of a primary wage earner between Jan. 1, 2007, and Dec. 31, 2012. Such events also must have resulted in foreclosure, bankruptcy, deed in lieu of foreclosure or a short sale that affected the applicant's credit.
    Bank of the Cascades noted that federal loan underwriting requirements exclude borrowers who have experienced foreclosure, bankruptcy, short sale or deed in lieu of foreclosure from re-entering the home purchase market for two to seven years.
    A New Beginnings loan can total up to $417,000 and is based on adjustable interest rates. The loans will apply only to single family, owner-occupied residences. Second homes, multifamily homes, prefabricated or modular homes or investment properties will not be eligible for financing through this program.
    For information about the program, contact Heather England at 541-608-8999.
    GRANTS PASS — Redwood Terrace Assisted Living Community has earned an Excellence in Action Award from My InnerView for 2012-2013.
    The senior living center recorded a 90 percent satisfaction score, compared with a 75 percent national average.
    The awards are presented annually to assisted living providers, scoring in the top 10 percent of an employee survey conducted by an independent research firm of 526 senior communities.
    ASHLAND — Blackstone Audio has acquired the unabridged audio rights to four works by world-renowned author Gabriel García Márquez: "One Hundred Years of Solitude," "Love in the Time of Cholera," "No One Writes to the Colonel," and "Memories of My Melancholy Whores."
    Blackstone is scheduled to release one book each month from September through December, beginning with "Love in the Time of Cholera," which will be read by Armando Durán. Thom Rivera is set to read "Memories of My Melancholy Whores," while narrators for the remaining two books have yet to be announced.
    The Colombian-born Márquez won the 1982 Nobel Prize for Literature after earning international acclaim for "One Hundred Years of Solitude." Since its original publication, the book has been translated into 37 languages and has sold more than 20 million copies.
    Compiled from staff reports
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