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Fannie Mae pays $53M to settle recession-era discrimination suit

Housing Wire

Amid protests set off by George Floyd’s death, Fannie Mae ’s CEO issued a public statement about its commitment to racial equity. Our role in housing finance brings important responsibilities.”. I told him, ‘We have this serious racial equity issue still pending, and I hope Fannie Mae is serious about it.’”

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Housing coalition publishes recommendations for GSEs’ ‘Duty to Serve’ plans

Housing Wire

mortgage finance system. The GSEs should “increase certain loan purchases” in Duty to Serve markets; develop new and accessible loan products and programs; and evaluate new business partnership opportunities. Better loan products to serve “high-needs rural regions” should also be developed.

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How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties

HomeLight

Again, the timeline varies by state, but this typically begins three to six months after the first missed payment , according to the Department of Housing and Urban Development (HUD). Bank-Owned or REO: If a home doesn’t sell at auction, it becomes a real-estate owned home , meaning the bank or lender officially owns it.

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Buying REO Homes? Here’s What to Do — And What Not to Do — According to Experts

HomeLight

In the market for a “ real estate owned” property ? Experienced REO buyers swear by this method of wealth-building through real estate. “One So how can you develop that skill that makes the pros so confident — and drives major return on investment? There is never a perfect investment situation.

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How To Create Wealth Investing In Real Estate

Lab Coat Agents

However, there are many ways to invest in real estate. Overall, it means that you invest in real estate either through equity (owning the property) or debt (borrowing money) (loaning the funds to buy the property). Anyone with the willingness and a small amount of money to invest can invest in real estate.

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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

From bidding to buying to financing to special incentives — we’re talking all things HUD homes to help you decide if this property type fits your financials and lifestyle. Department of Housing and Urban Development , a government agency first created by President Lyndon B. Financing a HUD home. Source: (Jeremy Yap / Unsplash).

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Flipping Houses in New York: 5 Cities to Consider

HomeLight

The successful flippers are the ones who have developed good relationships with contractors to keep them honest.” According to Wise, putting in a little sweat equity on the interior work can improve your profit margin. “If Since flippers don’t have a crystal ball to see the future, the industry has developed the 70% rule.