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FHA institutes new payment supplement partial claim

Housing Wire

The new option Partial claims are interest-free loans from HUD that borrowers use to make their payments current, with the remainder of the late payments added to the principal and extended for 30 years. The letter states that the option will be implemented starting May 1, 2024, but will be mandatory on Jan.

Principal 406
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NAR magazine devotes space to reverse mortgages and seniors

Housing Wire

“Those who might benefit most are homeowners who want to access capital without affecting their budget or savings, because borrowers have no required principal or interest payments for as long as they are living in the property,” the article said. “A A reverse mortgage could also benefit those who might outlive their retirement savings.”

Mortgages 432
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Master planned communities post strong new home sales numbers in 2023

Housing Wire

“Master-planned communities continue to attract buyers and outperform the overall new home market by offering a lifestyle, which elevates and links a collection of neighborhoods,” Ken Pearlman, managing principal at John Burns Research & Consulting, said in a statement.

Sales 448
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HUD seeks public comment on updates to reverse mortgage documents

Housing Wire

The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. These include wholesale revisions to the lender table for the best estimate of the total cost of the refinancing to the borrower, as well as increases to the borrower’s principal limit.

Mortgages 378
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RE/MAX lays off 7% of staff in reorg

Housing Wire

In the same filing, RE/MAX announced that it had let go of Adam Grosshans, the firm’s principal accounting officer, as part of the reorganization. She was also appointed as RE/MAX’s new principal accounting officer.

Principal 370
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5 Bathroom Design Rules You Should Break in 2023

Realtor.com

So if your bathroom is ripe for a face-lift in 2023, we invite you to think beyond the most overused design moves and get creative. Say bye-bye to boring, and cross the following tired bathroom design rules off your list. Plain subway tile. Subway tile Getty Images. The final product can be so invigorating,” says Schaible.

Design 122
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HUD announces new aid for Maui, Native Hawaiians

Housing Wire

One measure is targeted specifically for the island of Maui — which endured a devastating wildfire last year that destroyed the town of Lahaina — while the other is designed to expand rental assistance for Native Hawaiians residing on the islands. HUD awarded $6.9 HUD awarded $6.9

Principal 378