According to The Housing Wire, there are 1.7 million homeowners remaining in U.S. forbearance. ATTOM, parent company to RealtyTrac (www.realtytrac.com), released its July 2021 U.S. Foreclosure Market Report, which shows there were a total of 12,483 U.S. properties with foreclosure filings — default notices, scheduled auctions, or bank repossessions — down 4 percent from a month ago but up [...]
If everything is going well and you have an excellent agent, you may not require the services of a lawyer. However, there are situations when to hire a real estate lawyer is a good question. When to Hire a Real Estate Lawyer When Buying Without a Broker A “for sale by owner” transaction will save [...]
We are nearing the end of the financial protections that kept many households afloat throughout the Covid-19 pandemic. These protections will end in the coming days and weeks, including enhanced unemployment benefits and moratoria on evictions and mortgage foreclosures. While government agencies have renewed many protections multiple times, it is unlikely that extensions will continue [...]
Is this our future? Since Roman times the idea of buying votes with bread and circuses has been a staple of politicians. Vote for me, and I’ll make sure that you will receive farm subsidies and price supports. Vote for me, and I’ll make sure you’ll have free healthcare; I’ll pay off your student loans. [...]
Frustrated home buyers are getting more frustrated with the rising prices and lack of options in the housing market. That’s according to Fannie Mae’s latest Home Purchase Sentiment Index reveals that just 35% of people believe now is a good time to buy a home, down from 47% just a month ago. Moreover, the percentage of people [...]
Research shows that so-called “zombie foreclosures” are emerging in much bigger numbers again as distressed homeowners abandon their properties in the belief that somebody soon will repossess them. Remember Jingle Mail? When someone who has a mortgage decides they can’t or won’t pay it and are willing to give up their home, they mail the keys to [...]
So far, we are experiencing an uneven economic recovery with a hidden impact of lost jobs and lower-income for some homeowners. There is a complicated web of rules and regulations to help renters and homeowners stay in their homes. The programs set up to prevent people from losing their homes won’t end any time soon. [...]
According to Realtor Magazine, “The Federal Reserve voted to keep its benchmark interest rate near zero and historic lows as the economy continues to recover from the COVID-19 pandemic.” The Fed vows to keep the benchmark rate low and further indicates that they won’t likely raise interest rates until 2023—at the earliest. But that doesn’t necessarily [...]
According to Wolf Richter for WOLF STREET, “Everything is on ice. But when forbearance ends, forced sellers or lenders will put millions of these homes on the market. Since last spring, a historic delinquency problem has been fermenting largely on ice and on hold by forbearance programs. “The Federal Housing Administration (FHA), which insures nearly 8 million high-risk [...]
We are kicking the can down the road–again. Millions of homeowners with federally guaranteed mortgages have the option to extend their forbearance an additional six months, and the new federal foreclosure moratorium deadline has been pushed back to June 30, 2021. According to a statement released by the White House, there are now 70% of existing [...]
