By KIMBERLEY HAAS The Biden administration has announced a reduction on mortgage insurance premiums in a move they say could benefit an estimated 850,000 borrowers over the coming year. New borrowers who take out loans insured by the Federal Housing Administration will see the effects of the reduced premiums, according to a press release. The…
By KIMBERLEY HAAS A new proposed rule meeting President Joe Biden’s call to fully enforce the Fair Housing Act was announced by officials at the U.S. Department of Housing and Urban Development on Thursday. “Affirmatively furthering fair housing means more than merely steering clear of housing discrimination violations,” Demetria McCain, principal deputy assistant secretary for…
By KIMBERLEY HAAS Homelessness has risen for individuals and people with disabilities, according to the 2022 Annual Homeless Assessment Report released on Monday by officials at the U.S. Department of Housing and Urban Development. Homelessness among single individuals increased by 3.1%. The number of people with disabilities experiencing homelessness for long periods of time increased…
By KIMBERLEY HAAS A Los Angeles broker convicted of defrauding lenders to obtain more than $8 million in mortgage loans has been sentenced to five years and four months in prison. Alex Ashod Dadourian, 61, was a licensed mortgage loan broker whose company, Success Funding, doing business as Pride Funding, was located in Northridge, California….
Americans agree that military families deal with more financial stress than the average family. Ahead of Veterans Day, WalletHub looked at the best places veterans can live to reduce that burden. The Midwest and South offer the best places for veterans to live well, according to WalletHub’s 2022 Best & Worst Places for Veterans to…
New home sales fell in September to a seasonally adjusted annual rate of 603,000, down 10.8% from August and 17.6% YOY, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. The month-over-month figure is slightly better than expected. Economists polled by The Wall Street Journal predicted home sales…
New home sales fell in July to a seasonally adjusted annual rate of 511,000, down 12.6% from June and 29.6% YOY, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. The massive dropoff can be attributed to the rising cost of buying a home. Home price appreciation and…
Housing payments have surpassed the dreaded 30% cost-burdened threshold thanks to the 30-year fixed rate’s recent half-point jump. Black Knight reports that it now costs $2,103 to make the principal and interest (P&I) payment on an average-priced home with a 20% downpayment. That equates to 36.2% of the median household income and sinks affordability to…
In a narrow victory decided by a tie-breaking vote, Julia Gordon has been confirmed by the Senate as Assistant Secretary of the U.S. Department of Housing & Urban Development (HUD) and Commissioner of the Federal Housing Administration (FHA). President Biden nominated Gordon to the position in June. Her nomination to the Senate for a vote…
New home sales fell to a four-month low in March to a seasonally adjusted annual rate of 763,000, down 8.6%, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. The massive dropoff can be attributed to the rising cost of buying a home. Home price appreciation and increasing…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!