Forbearance Numbers Are Lower than Expected

Keeping Current Matters

Originally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a later date) could lead to an increase in foreclosures when forbearances end. Distressed Properties Foreclosures Housing Market Updates

HPC: Delaying final QM Rule “not in public interest”

Housing Wire

The Housing Policy Council sent a letter to the Consumer Financial Protection Bureau on Tuesday expressing its opposition to delaying the implementation of the Final QM Rule and expiration of the 2013 QM Rule, set to take effect on July 1, 2021.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

The CFPB missed a chance to fix the QM rule

Housing Wire

The Consumer Financial Protection Bureau appears to have lost an opportunity to correct a nagging issue in its definition of a qualified mortgage. At the heart of the issue is a borrower’s ability to repay their mortgage.

A Helping Hand In The Housing Market

Toronto Realty Blog

As a 40-year-old man, I can personally attest to just how interesting the child-parent relationship is. I’ve rounded that corner – the one where you cease to become the one who needs to be provided for, and instead, becomes the provider. TorontoRealtyBlog.

Are You Ready to Buy a Home?

Realty Biz

Depending on the market where you live, your mortgage may be lower than rent. Combine that with the fact that as a homeowner you are building equity, and increasing your net worth, and you realize buying a home can be a great choice. The post Are You Ready to Buy a Home?

Reducing the racial wealth gap by expanding down payment assistance

Housing Wire

The incoming Biden administration has made improving racial equity a pillar of its domestic policy agenda, and appropriately so. With home equity accounting for a quarter of total U.S. Now is the time to double down on diversity and inclusion efforts.

Should You Buy a Home or Keep Renting? How To Decide in 7 Steps

Realtor

marchmeena29/Getty Images It’s a big question with no easy answer: Should you keep renting, or is it time to think about buying a home? One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket.

Thinking About a Rent-to-Own House? Here’s What You Need to Know

HomeLight

Most of us have seen those ads for rent-to-own appliance and furniture stores. Maybe you’ve even used their services when you were in need of furniture but didn’t really have the cash on hand at the moment to buy that pretty new couch outright. Yes, a rent-to-own house!

HUD Aims to Boost Homeownership for Buyers With High Student Loans

Realtor.com

MANDEL NGAN/AFP via Getty Images WASHINGTON—The Federal Housing Administration is relaxing the way it assesses student-loan debt when weighing eligibility for homebuying assistance as the Biden administration pushes to help lower-income borrowers and narrow a racial gap in homeownership.

Avoid Being House Poor With These 8 Critical Buyer Tips

HomeLight

And second of all, there’s actually a term for this scenario: It’s called being “ house poor ,” when your housing costs eat up the bulk of your income. It’s an uncomfortable way to live, but you don’t have to resign yourself to it if you want to buy a house.

Why More Latinos Became Homeowners During the Pandemic

Realtor.com

Getty Images Even in a pandemic that resulted in steep job losses, economic turmoil, and a cutthroat housing market, more Hispanic buyers successfully purchased homes last year. For many Hispanic buyers, COVID-19 cemented their desire and accelerated their plans to become homeowners.

7 Questions to Ask Yourself Before Refinancing Your Mortgage

Point2Homes

But, before you jump into refinancing your mortgage, it’s important to know what it involves and what the potential consequences are. With that in mind, here are 7 questions to ask before you make your choice. Do you have any plans to relocate?

7 Easy Steps to Take Advantage of Low Rates and Refinance Your Mortgage

Point2Homes

Interest rates are currently at a historic low, making it extremely tempting to reconsider your current mortgage. Indeed, you may be thinking about refinancing your mortgage in order to make the most of low rates. After that, you will need to close on your refinanced mortgage.

What Exactly Is a Cooperative? And Is It Smart to Buy Shares In One?

HomeLight

or you want your home to support a sustainable future, if you’re shopping for a home in some areas of the country, you might stumble across a co-op. Even though the real estate listing shows two bedrooms and a balcony, and it’s similar to a condo , a co-op purchase is unique.

What Is a Co-op and Is It Right for Me? Here’s Everything You Need to Know

HomeLight

You’ve finally decided to purchase your first home and you have your sights set on a place in the city! While it can provide affordable living and less maintenance, co-ops may be harder to get into, and they can come with quite a few rules and regulations. Harder to get into.

Looking for a Mortgage Lender? Here Are 19 Questions to Ask Them Before You Commit

HomeLight

When it comes to house-hunting , finding your dream home is only part of the equation. And while you can expect to answer plenty of questions from your mortgage lender about qualifying for a loan, as a buyer, there are also several important questions you should be asking your lender.

Here’s How You Can Become a Homeowner With A Zero-Down-Payment Mortgage

HomeLight

However, even if you can’t make the traditional 20% down payment , it doesn’t mean you need to put your dream of owning a home on the backburner. Today, there’s no rule stating that you have to put 20% down before you’re able to secure a mortgage for a house. No income limits.

Loans 60

Should You Always Put 20% Down When You Buy A Home? Not Necessarily

HomeLight

In addition to making sure you meet all the lending requirements, getting your credit in order, and figuring out how much house you can afford , you’ll also need to save money for your down payment. When 20% is the way to go. Buyers often don’t want to pay MI,” she says. “It

9 Easy Ways to Bulletproof Your Transactions During the Pandemic

The Close

In my 26-year career as a broker and real estate coach, I have never seen anything like today’s market. Even in a normal market, all pendings don’t make it to closing. The goal is to move the buyer through the investigative process quickly. Ask to Move the Closing Up.

What’s A Mortgage Down Payment … And Why Does It Matter?

HomeLight

But unless you’ve bought a car or made another big purchase, the words “down payment” might not mean anything to you at all … except perhaps representing one more thing you don’t know about buying a house. Not a few turn to family members for help. The LTV ratio is 88%.

Loans 55

Building a Guest House 101: Get Your Accessory Dwelling Unit Up and Running

HomeLight

Today homeowners are building guest houses as creative solutions to multi-generational housing and house hacking their mortgages. It’s the easiest way to cover their mortgage payment.”. ADUs cost more to build, but yield a higher ROI as they may function as legal rentals.

FHA Guidelines

Real Estate Finance HQ

If you want to get a quick summary instead of reading over 1,000 pages keep reading. The FHA, a unit of the Department of Housing and Urban Development, was created in 1934 specifically to help low- and moderate-income families obtain financing for home ownership. Housing Ratio. Debt to Income Ratio. Income: FHA mortgage loans require a steady source of income and consistent employment for at least two years. Housing Ratio.

Top Five: Blog Posts Of 2020!

Toronto Realty Blog

I specifically didn’t post new content on Friday because I knew you’d all need to be fresh, eager, and well-rested this morning in order to power through this week’s blogs. We have so much to comb through on Toronto Realty Blog in 2020! I’d love to see Ms.

Real Estate Investing: The Basic Concepts For Beginners

Norada Real Estate

As a result, real estate is nearly universally thought to be a sound investment. This certainly has something to do with the economy. It is not uncommon to find people who are afraid of real estate investing. Down” markets may actually be the rifest with opportunity.

51 Brilliant Real Estate Tips for Buyers to Edge Past the Competition

HomeLight

Ready to hit the market, buy your dream home and conquer this whole homeownership thing? It’s an exciting step in life, to be sure. But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal.