By KIMBERLEY HAAS Eligible homeowners in New Jersey can receive up to $35,000 to help protect themselves against foreclosures. Officials at the New Jersey Housing and Mortgage Finance Agency have opened an application portal for the Emergency Rescue Mortgage Assistance program. The money, which comes in the form of a three-year forgivable loan with no interest or payments due, can be used for the following: -Mortgage reinstatement -Escrow shortages -Delinquent property taxes -Municipal or property tax liens -Mortgage payments, including principal, interest, taxes, and homeowner’s insurance To qualify for assistance, a homeowner must: -Own and occupy an eligible one- to four-unit primary residence -Have been current on mortgage and property taxes as of January 2020 -Have experienced a COVID-19 related…
A new study from United Van Lines found Americans moved to lower-density areas to be closer to their families in 2021. The study, which uses data from the migration patterns of United Van Lines customers, found Vermont and South Dakota had the highest inbound migration, at 74% and 69%, respectively. South Carolina (63%), West Virginia (63%), and Florida (62%) also had high inbound migration rates. New Jersey had the highest number of people moving out of the state, at 71%, for the fourth year in a row. Illinois (67%), New York (63%), Connecticut (60%), and California (59%) also saw high outbound migration. Kentucky and Wyoming were among several “balanced” states that saw similar numbers of people moving in and out.…
By KIMBERLEY HAAS As people throughout the country wish for a white Christmas this upcoming weekend, it is expected that home sales will stay warm in many parts of the nation throughout the winter. Continued bidding wars, the Great Resignation, and Millennials on the market will all likely contribute to keeping home prices high during a season where sales typically cool off until spring. And above-average temperatures expected in many parts of the United States may also keep buyers on the market at a time when they would typically try to avoid moving due to snow and ice. Bidding Wars Redfin reported on Friday that in November, 59.5% of home offers written by their agents faced competition, which is the…
By KIMBERLEY HAAS As the COVID-19 pandemic continues and workers reevaluate their commitment to metropolitan life, lenders in smaller cities stand to benefit from what is being termed the “Great Resignation.” It is estimated that about 4.4 million Americans quit their jobs in September after months of dramatic departure numbers, which means those employees are looking for and taking new jobs, often choosing to live in a different location if they have the option of working remotely. Since 87% of employees say they would like to work remotely at least one day a week, and one in three workers would not want to work for an employer that required them to be onsite full time, potential homebuyers are taking these…
