Homes Bought In 2022 Face Rising Underwater Risk As Prices Cool

Americans who bought a home this year are facing rising underwater risk as home prices cool. Black Knight’s October Mortgage Monitor found that 8% of homes bought in 2022 are now at least marginally underwater, while almost 40% have less than a 10% equity stake in their homes. “Make no mistake: negative equity rates continue to run far below historical averages, but a clear bifurcation of risk has emerged between mortgaged homes purchased relatively recently versus those bought early in or before the pandemic,” said Black Knight President Ben Graboske. “Risk among earlier purchases is essentially nonexistent given the large equity cushions these mortgage holders are sitting on. More recent homebuyers don’t fare as well.” This is a particular issue…

Guest Voices: Veterans Eligible For VA Construction Loans

By Bruce Reichstein Demand for custom built homes is on the rise and many Veterans who are in the market to build a new home are finding out about the VA guaranteed construction loan program that has been around for years. If you are an eligible Veteran and qualify for a $0 Down VA Home Loan, then you qualify for a $0 Down VA construction loan as well. Not only can these Veteran borrowers select and purchase their desired lot/land, they can also have a say in the design plans with a home builder of their choice for stick built, modular or manufactured homes. And they will be able to finance both the lot and the entire construction portion of…