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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Two-thirds of Millennials who were polled said they have saved nothing for retirement. Many believe they do not need to save because capitalism will be abolished and replaced with socialism, which will take care of their needs. [In other words, they are passively preparing to live on the plantation.] In a hilarious piece that just …
Millennials Not Saving for Retirement, Believing Government Will Take Care of Them Read More »
Though homeowners are gaining equity across the country, the number of underwater borrowers in some areas remains high. The metro with the highest share of homeowners with negative equity is Miami-Miami Beach-Kendall, Fla., where the number of those in the red has grown 13.1 percent year over year, according to a new report from CoreLogic. Nationwide, the …
Baby boomers are moving to retirement hotspots and millennials are moving to the suburbs, according to an analysis of newly released estimates from the Census Bureau by The Wall Street Journal. The population of federally designated retirement destination counties rose at almost three times the rate of national population growth last year. Meanwhile, the suburbs …
In a recent CNN Money article that reads like a press release from the banking industry, Donna Borak reported that a growing number of mortgages being financed by nonbank lenders means that danger is again lurking in the housing industry. Borak led the article with a sub-headline that read, “Low interest rates. Easy credit. Poor …
More CNN Fake News: Nonbank mortgage lenders are “toxic” Read More »
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