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HUD affordability plan doesn’t include lowering FHA premiums

Housing Wire

Senior officials at the Department of Housing and Urban Development , which houses the FHA, said today during a press briefing that it would focus on improving financing for manufactured homes and revamp its renovation financing. In some cases, the borrower’s family member or acquaintance owns the land.

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Opinion: Pass the Neighborhood Homes Investment Act

Housing Wire

The Neighborhood Homes Investment Act (Neighborhood Homes) would begin addressing these challenges by developing or renovating 125,000 affordable homes in economically distressed communities. This cost gap all-too-often prevents the renovation of affordable houses that need a great deal of work.

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North Carolina’s low home prices luring buyers

Housing Wire

The idea of “more space” has driven homebuyers during the pandemic, with people wanting to get out of crowded metros and into homes with more land. Thankfully, most banks were still lending. That’s a 15.9% increase year-over-year. “It’s just an inventory problem right now,” Sutton said.

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As vacant foreclosures increase, so does buyer interest

Housing Wire

Beniston noted demand is also strong for rentals that YNDC has renovated after purchasing in distress. That home was on a street where YNDC had purchased several other existing homes, built three brand new homes and had renovated the sole apartment building on the street — “an awesome historic structure built in 1910,” Beniston said.

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4 Years After Landing on the Market, Kelly Clarkson’s Tennessee Mansion Finally Sells

Realtor.com

The former couple spent plenty of dough on renovations, but a sale near the list price will result in a nice return on the initial investment. ” The post 4 Years After Landing on the Market, Kelly Clarkson’s Tennessee Mansion Finally Sells appeared first on Real Estate News & Insights | realtor.com®.

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Getting a Home Loan With Low or No Down Payment

Realty Biz

This type of mortgage can be used, not only, to buy homes in rural areas, but also for renovations, new constructions, and relocating a house. Money from this loan can be spent on a land purchase, and for connecting utilities. This home can be on Federal Trust Land, and they offer reduced interest rates as well as the other benefits.

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How In The World Did This Happen?

Toronto Realty Blog

The company was led by brothers Carlo and Dino Taurasi, who solicited deposits for unbuilt homes on land that in at least one case they did not yet own as they rapidly took on more debt to promote more housing developments. plus interest, the bank claims. Over the course of the year, that left TD being owed $37,028,055.73