02 September 2022
Between the walls of his modest two-bedroom apartment in Sunset Park, Fabian Bravo has watched his family grow. He’s seen his three children go from infants to toddlers to teens. Pictures of his family, children’s drawings and kind notes from teachers and friends line the walls. This apartment, and the neighborhood along the bay in […]
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02 September 2022
Reverse mortgages let homeowners who are 62 years and older liquidate their home equity. That can be a convenient way to generate extra cash for retirees whose net worths are primarily in their homes. However, these specialized home loans also have costs and limitations that can make them problematic. Here are the most significant pros […]
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02 September 2022
Two years ago, the housing market started seriously heating up. With mortgage rates at all-time lows, buyers flocked to the market. As a result, home prices in the U.S. increased by more than 30% from 2020 to 2022, according to recent Ascent research. Despite this, homes continue to sell within days of being listed. However, housing […]
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01 September 2022
HYANNIS — A former real estate attorney and his wife, both from Hyannis Port, were sentenced in federal court in Boston Thursday in connection with various mortgage fraud schemes, including not paying off mortgages for clients who refinanced their home loans. Barry Wayne Plunkett Jr., 62, was sentenced to 78 months in prison and five […]
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01 September 2022
Summary Many measures of real estate activity have softened after a remarkable run, including pending and new home sales. Home prices remain high, with the latest data showing median home prices climbed approximately 11% vs. a year ago to a record $404,000. Given the growing disconnect between prices and other measures of housing activity, some […]
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01 September 2022
To help narrow a homeownership gap among Black and Hispanic-Latino communities, Bank of America is launching new zero down payment, zero closing cost mortgage products to help people in minority communities buy their first homes. The program — called the Community Affordable Loan Solution — will be available to certain markets including majority Black and/or […]
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31 August 2022
High housing costs, rising rental prices, persistent inflation and an end to eviction moratoriums have many Americans worried about keeping a roof over their heads. We found that nationwide, nearly 28% of people (1 in 4) who are behind on payments are worried they will face foreclosure or eviction in the next two months. Key […]
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31 August 2022
According to the United States Census Bureau, 3.8 million tenants are likely to be evicted in the next two months. Comparatively, only 3.6 million eviction cases were filed in the entire year of 2018. In 2018, the Eviction Lab at Princeton University estimated that there were only 898,479 evictions in 2016, although this number may be a low estimate compared to more […]
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31 August 2022
New York (CNN Business)Rising mortgage rates are taking a toll on the US housing market. But those hoping for prices to drop probably won’t catch a break anytime soon. What’s happening: Home prices were up 18% in June compared to a year ago, with Tampa, Miami and Dallas reporting the highest annual gains, according to […]
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31 August 2022
The U.S. entered into its first housing downturn of the post–Great Financial Crisis era. And the worst still awaits. On Tuesday, researchers at Goldman Sachs released a paper titled “The Housing Downturn: Further to Fall.” The investment bank now forecasts that activity in the U.S. housing market will end 2022 down across the board. The firm projects […]
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30 August 2022
LOS ANGELES – A third-party seller on Amazon.com was sentenced today to 18 months in federal prison for gaming the online retailer’s payment system in a scheme that defrauded the company out of more than $1.3 million. Ting Hong Yeung, 40, of Hacienda Heights, was sentenced by United States District Judge Stephen V. Wilson, who also […]
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30 August 2022
New Jersey has paid out less than 1% of a multimillion-dollar pot of federal money to help struggling homeowners catch up on their mortgages, property taxes, homeowner’s insurance and other housing costs, according to the state’s latest federal status report. This February, New Jersey launched its application portal for a $325 million program called Emergency […]
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30 August 2022
While the U.S. flirts with recession, one clear loser from the recent round of U.S. interest hikes has been the housing market. What does the data suggest? First off it’s definitely not that bad, yet. Today house pricing remains strong, year-on-year Zillow has house prices up 18% as of July. Slightly more pessimistically, Redfin’sRDFN -2.7% data has house prices […]
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29 August 2022
Angel Harris once hoped to open a cleaning business with the motto: “Cleanliness is next to Godliness.” But those business plans — and much of her life — have been put on hold. Angel’s move to an older home on Milwaukee’s near north side in early winter 2020 began a chain of events that forced her […]
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29 August 2022
The article originally appeared on Prism. America’s worsening housing crisis has touched every part of the country in recent years. The pandemic ushered in a brief reprieve for many renters through federal relief and eviction moratoria, which reduced evictions nationwide compared to pre-pandemic levels. But with federal funds dwindling and national and local eviction moratoria ending, many jurisdictions […]
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29 August 2022
Given rising mortgage rates that spiked to their highest levels since the 2008 housing crisis and fears of a recession, the real estate market has been preparing for a slowdown. Many experts are cautioning sellers to say goodbye to the pandemic housing boom and welcome an era of fewer bidding wars and higher inventory. That […]
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29 August 2022
Vermont Business Magazine Between high housing costs and steady inflation, more and more people are worried about losing their home. QuoteWizard by Lending Tree, in a study released today and based on US Census Bureau data, found that 93% of people in Vermont behind on mortgage payments are worried they will face foreclosure in the next two months. […]
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26 August 2022
The Supreme Court struck down the Centers for Disease Control and Prevention (CDC) eviction moratorium one year ago, putting millions of renters at risk of losing their homes. Since then, eviction filings have returned to pre-pandemic levels and, in some places, even exceeded them. Although the job market has mostly rebounded from the early days of the […]
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26 August 2022
I love it when organizations try and do something good, but don’t think things through and end up delivering unintended negative consequences. Today’s case in point: the US Senate and the Federal Reserve, both of whom are looking to reduce high interchange costs, but are unintentionally increasing costs for merchants and sharply boosting the undiscovered […]
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25 August 2022
A former Alabama bank branch manager has been sentenced to federal prison for embezzlement. Dorinda Lynn Lumpkin, 48, of Gadsden, was sentenced Thursday to one year and one day in prison, according to a joint announcement by Northern District of Alabama U.S. Attorney Prim Escalona and U.S. Secret Service Special Agent in Charge Patrick M. […]
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25 August 2022
Inflation has hammered U.S. consumers since 2021, but relief is finally arriving—most noticeably at the gas pump. After spending ten weeks below 50, the main confidence index of the latest Forbes Advisor-Ipsos Consumer Confidence poll is up 2.5 points to 52.1. The uptick in consumer optimism has been helped along by President Joe Biden’s student loan forgiveness plan, the Inflation Reduction […]
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25 August 2022
A lack of affordable housing and growing demand for rental properties have sent the rental market into a state of crisis, and young people are particularly affected. New data suggests that nearly four in ten renters under the age of 30 pay more than 30% of their income on rent, and some are turning to house sharing. According […]
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