SAN FRANCISCO — For $1,200 a month, Patricia Torres and her family were renting a bedroom, a share of time in the bathroom, one vegetable drawer and one shelf in the fridge, and two cupboards over the stove. They rented not so much a home as a fraction of one. Karen Calderon had even less: a …
A Newport Beach couple were charged Wednesday with multiple felonies after authorities alleged they stole more than $5.9 million in a real estate fraud scheme and laundered the money to purchase a luxury car and invest in a winery. Ronald Cedric Touchard, 59, faces 54 counts of money laundering, three counts of grand theft and …
Newport Beach couple charged with stealing $5.9 million in real estate fraud scheme Read More »
Three bedrooms, one bathroom, newly remodeled and it’s renting for just $600 a month. Sound too good to be true? It is. And the people who actually live in this Pensacola, FL home are furious. Rhonda Trafford first learned about the Craigslist post on Monday, after a woman knocked on her front door inquiring about …
“Mortgage rates so far in 2018 have had the most sustained increase to start the year in over 40 years,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “Through May, rates have risen in 15 out of the first 21 weeks (71 percent), which is the highest share since Freddie Mac began tracking …
Mortgage Rates Rising At Pace Not Seen In Almost 50 Years Read More »
The Bureau of Economic Analysis recently released data on personal income and the cost of living in 2016 for metropolitan and nonmetropolitan parts of states, including the relative cost of living in different parts of the country. Regional price parity is an index that sets the national average cost of goods and services at 100, with a …
The most and least expensive places to live in America Read More »
Fannie Mae will sell 11,000 in non-performing loans, 700 of which are from its thirteenth Community Impact Pool, a small pool for marginalized or small investors. Community Impact Pools are smaller loan pools that are geographically-focused and marketed toward non-profits, minority and women-owned businesses, and smaller investors. These Community Impact Pool loans are located in New Jersey, …
Borrowers of residential transitional loans—or flip loans, as they are better known—use the money to buy a property, renovate it and then try to quickly resell at a profit. They have become a lucrative and growing niche of finance in recent years. Nomura Holdings Inc. estimates that flippers will borrow some $15 billion this year, …
Flip loans command juicy interest rates of 8% to 12% but come with risks Read More »
* Consumer confidence in housing jumped to its highest level on record in April, according to Fannie Mae. * Those who think home prices will move even higher rose the most, and those who think now is a good time to sell came in second. * Only the share of those who think it’s a …
Housing confidence hits record high as home prices skyrocket Read More »
More and more small real estate investors are working with partners these days—and often, multiple ones. As prices have rebounded from their lows during the housing crash, some investors find they need to pool funds with friends, relatives, or others to be able to afford their next flip or rental property. While they’re sharing the eventual rewards, …
Small-Time Real Estate Investors Team Up for Big-Time Profits Read More »
The New York Department of Financial Services is deciding whether lease options (a.k.a. “rent-to-own) should be highly regulated or even banned in that state as “predatory lending.” Last year, the Wisconsin Department of Justice sued Vision Property Management and its various affiliates for using “misleading and deceiving business practices to induce Wisconsin consumers to lease, rent, or purchase uninhabitable properties,” …
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