Thousands line up for zero-down-payment, subprime mortgages So far more than 10,000 potential borrowers have shown up to get these mortgages at various events in cities like Charlotte, North Carolina, and Atlanta,and more are planned. Borrowers can have low credit scores, but have to go through an education session about the program and submit all …
There was a significant decrease in foreclosures at the end of the third quarter of 2018, according to ATTOM Data Solutions‘ latest Foreclosure Market Report. Notably, only 177,146 U.S. properties were listed as foreclosure filings, default notices, scheduled auctions or bank repossessions. This is the lowest level since the fourth quarter of 2005, marking a nearly 13-year low. The …
Foreclosure activity falls to lowest level since 2005 Read More »
New Supreme Court Justice Brett Kavanaugh has ruled that the Consumer Financial Protection Bureau in its current form is unconstitutional. In 2016, PHH, a mortgage lender, challenged CFPB Director Richard Cordray’s $103 million increase to a $6 million fine initially levied against PHH for allegedly illegally referring consumers to mortgage insurers in exchange for kickbacks. To combat this …
Income fraud: An applicant misrepresents the existence, continuance, source, or amount of their income. Occupancy fraud: An applicant deliberately misstates the intended use of a property as a primary or secondary residence or an investment. Transaction fraud: The applicant misrepresents the nature of the transaction, such as an undisclosed agreement between parties, falsified down payments, non-arm’s-length sale, or …
An improving economy and spiking mortgage rates are hindering people’s ability to afford a house. Data from the third quarter of 2018 showed home prices hitting their lowest level of affordability since 2008, according to Attom Data Solutions’ Home Affordability Report. More than three-quarters of the 440 counties analyzed in the report posted an affordability index below …
12 cities where housing bubble fears are growing Read More »
In the run-up to the 2008 financial crisis, millions of amateur investors kept adding fuel to the overheating U.S. housing market by betting on quick profits in hotspots like Las Vegas or Miami. A decade later, house-flipping is making a comeback, but this time in some Rust Belt cities the last boom passed by. Not …
A California woman’s refusal to sell her family home to a Trump supporter may have cost her more than $100,000. In March the woman placed her Sacramento-area home on the market for $625,000 with one stipulation: The buyer must not be a Trump supporter. She later took the home off the market for reasons that were not …
She wouldn’t sell her home to Trump fans — that cost her at least $125,000 Read More »
Foreclosure starts rose in the U.S. in July for the first time in three years, as 44% of markets across the country saw increases. Real-estate data firm Attom Data Solutions on Tuesday said 30,187 U.S. properties started the foreclosure process for the first time in July, up 1% from June and up less than 1% …
American homeowners and non-homeowners were given eight scenarios and asked if they would give up items or people to own a dream home for free. Here’s how they responded: 35% would eat fast food for every meal for one year; 17% would vote against their own political leanings for the rest of their life; 18% would …
Guess What People Would Give Up To Get Their Dream Home Free? Read More »
LOS ANGELES — A property about to go on the market here consists of 157 acres of hilltop land in the coveted Beverly Hills 90210 ZIP code, a 10-minute drive from Rodeo Drive. With its 360-degree views, you can spot many of Los Angeles’ major landmarks in the distance, from Century City to downtown, and …
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