Coming by a down payment acceptable to today’s mortgage lenders is altering the outlook for homebuyers in this post-Millennium Boom era, following 30 years of ever relaxing mortgage qualification requirements. While 100% financing came to be regarded as the standard during the Millennium Boom, today’s homebuyers in need of purchase-assist financing are again making down [...]
This article examines the financial viability of homeownership in the wake of the housing crash, and how the housing crash impacted ideas about mortgage spending and commuting.
At last, Congress is due some congratulations. In a significant step in the right direction, the Federal Reserve (the Fed) has been given responsibility for protecting homebuyers from unfair and deceptive lending practices by lenders and loan brokers subject to the Real Estate Settlement Procedures Act (RESPA). The Fed’s new authority assures a more stable [...]
Everyone expected home sales to fall once the federal homebuyer tax credit ran out at the end of April, but nobody foresaw a plunge as drastic as May’s sales – a 30% fall of signed sales contracts. According to the National Association of Realtors (NAR), the pending home sales index has been increasing steadily but [...]
In a May 2010 nationwide online survey of preferences toward renting or homeownership, 76% of the 2,140 respondents (including 1,443 homeowners and 617 renters), believed that renting was a more viable option in today’s real estate market. As the nation’s economy struggles and the population becomes better informed about this financial crisis and recession, people [...]
California has anted up $200 million from the state’s treasury to pump up the housing market in yet another builder and lender tax subsidy based on prematurely bringing out what would be next year’s homebuyers. The state’s subsidies will grant $100 million in tax credits (prepaid taxes or refunds) toward the purchase of existing homes [...]
This article discusses the loan application process leading up to a lender’s denial of credit to a homebuyer, and explains the steps the buyer’s selling agent can take to help avoid it.
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