Housing Wire

DECEMBER 2, 2024

“There’s a lot of people in the middle, homeowners included, who are stuck.” Older homeowners are also struggling with rising insurance premiums , particularly if they’re still paying off forward mortgages. A separate survey from Redfin also found that homeownership tenures in the same house are rising significantly.

As-is 418

As-is Equity Land Mortgages 418

Housing Wire

JUNE 7, 2024

homeowner with a mortgage added $28,000 in equity during the year ending in March 2024 — the highest year-over-year increase since late 2022. Importantly, higher prices have also lifted some 190,000 homeowners out of negative equity , leaving only about 1.8% The average U.S. of those with mortgages underwater.”

Equity 518

Equity Residential Mortgages Closing 518

Housing Wire

OCTOBER 15, 2024

About a year ago, I started noticing a parallel between the housing market and the labor market. Unemployment in the country is very low. Everyone has a job. The conventional wisdom for almost three years has been that job market must weaken, unemployment must be rising. But for three years, unemployment has stayed low. No one wants to move.

Sales 505

Sales Mortgages Marketing As-is 505

Housing Wire

NOVEMBER 4, 2024

An overdue shift in homeowner attitudes about selling their homes is a major factor, Redfin reported. Recently, the “lock-in effect” has kept homeowners with historically low-rate mortgages from selling, but this effect is easing. The available inventory of existing homes rose by 22% year over year in Q3 2034. million units.

As-is 369

As-is Marketing Construction New Construction 369

Housing Wire

SEPTEMBER 9, 2024

Homeowners insurance costs are higher now than they have typically been , which has the potential to hit those living on a fixed income particularly hard. A lot of my calls start with clients asking about whether or not they should get a reverse mortgage,” she told the outlet. “My My next question is, why are you calling?

Mortgages 445

Mortgages Loans As-is Finance 445

Housing Wire

JANUARY 6, 2025

While recent housing market reports and trends have shown that older homeowners are unwilling to sell their homes for a variety of reasons, one of them may be the expected requirement to pay capital gains taxes stemming from the post-pandemic explosion of home-price appreciation, according to a report from Business Insider.

Sales 397

Sales Equity Finance Development 397

Housing Wire

JANUARY 22, 2025

Online real estate marketplace Auction.com announced Wednesday that it is launching SmartSale, a technology-powered option to foreclosure that lets distressed homeowners list and sell their property. SmartSale allows homeowners to sell their homes through direct offers from buyers or an auction process.

Proof of funds 370

Proof of funds Equity Technology Banks 370

Housing Wire

DECEMBER 13, 2024

Malibu’s Franklin Fire torched over 4,000 acres this week in one of the country’s most expensive housing markets, putting more pressure on homeowners insurance premiums in a state that is already facing an insurance crisis. What will happen to insurance costs in California now?

Residential 370

Residential Development As-is Closing 370

Housing Wire

DECEMBER 26, 2024

The legal department at eXp Realty and parent company eXp World Holdings is not getting any rest over the holidays. The suit was filed on Friday by Michael Ammann in U.S. District Court in Miami. The plaintiff is representing himself pro se. 4, followed by a detailed affidavit sent on Nov. eXp did not return a request for comment.

Renovation 397

Renovation Brokerage Agents As-is 397

Housing Wire

NOVEMBER 7, 2024

It’s resulting in calls to reimagine the costs of homeowners insurance (Image generated by AI in Midjourney) As the planet warms and extreme weather intensifies, the rising cost of homeowners insurance is stopping real estate deals in their tracks. Climate change is increasing the intensity and severity of natural disasters.

Design 482

Design Mortgages Lending As-is 482

Housing Wire

JANUARY 3, 2025

The California Department of Insurance unveiled a new regulation this week that aims to increase homeowners insurance coverage in areas prone to wildfires , a response to the recent pullback in policies by several major insurers. This is a historic moment for California.

Design 523

Design Marketing As-is Sales 523

Housing Wire

OCTOBER 24, 2024

Now Sandoval, who was featured earlier this year in a Wall Street Journal article , is the one knocking on the doors of homeowners facing foreclosure or other distressed circumstances. She wants to offer those homeowners the resources and care that her mom and stepdad didn’t experience. “I There is nothing like that face to face.

Bankruptcy 448

Bankruptcy Equity Hard money loan Finance 448

Housing Wire

JANUARY 28, 2025

Two groups of homeowners a service transfer population and a property preservation population are eligible for relief under the settlement. According to the lawsuit, these loans became 30 days delinquent within 90 days of the transfer, eventually causing several foreclosures among homeowners. Cooper to provide $5.8

Inspection 439

Inspection Loans Mortgages As-is 439

Housing Wire

JANUARY 8, 2025

Heading into the 2025 housing market, we havent had this many homeowners with mortgage rates over 6% since 2016. Not coincidentally, inventory hit record lows none of those homeowners wanted to sell.This has long-term consequences. The opposite is true too: As mortgages get more expensive , more homeowners want to sell their homes.

Mortgages 488

Mortgages Finance Equity Loans 488

Housing Wire

DECEMBER 17, 2024

Because the children of homeowners are more likely to be homeowners themselves, this pattern has profound implications on the economic mobility for younger homebuyers like millennials and Gen-Zers and also for future generations. The wealth gap between homeowner and renter households is widening.

Marketing 397

Marketing Equity As-is Mortgages 397

Housing Wire

NOVEMBER 15, 2024

This week, we got the updated New York Fed credit data report and it shows the strong position of homeowners — especially in comparison to the years before the Great Financial Crisis. As homeowners age, their wages have grown and their cash flow has improved. The typical response is to take Uncle Dave to bed for his nap.

Loans 521

Loans Mortgages Lending As-is 521

Housing Wire

DECEMBER 30, 2024

In November, Redfin also reported that renter household growth is significantly outpacing that of homeowners, showcasing a shift in market dynamics. Home sales may also ramp up as the lock-in effect loosens its grip on homeowners. The report focuses on homes that were on the market for at least 60 days at end of the month.

Mortgages 488

Mortgages Brokerage Sales Marketing 488

Housing Wire

JUNE 10, 2024

It’s also due to growing property taxes and homeowners insurance premiums as providers exited states where risks are elevated. While homeownership is worth the financial sacrifice, homeowners also need to be aware of the ongoing expenses that go along with owning property. “No

Mortgages 518

Mortgages As-is Finance 518

Housing Wire

APRIL 17, 2024

Homeowners may also use second mortgages to access the equity in their homes, [where] only the smaller, second mortgage would be subject to the current market rate, as the original terms of the first mortgage would remain intact.” FHFA Director Sandra Thompson explained that such options are needed in the current mortgage rate environment.

Closing 529

Closing Mortgages Equity Loans 529

Housing Wire

SEPTEMBER 19, 2024

Higher rates over time have a big impact on consumers, especially older homeowners. Higher rates in the ecosystem end up costing consumers more money and has a bigger impact on older homeowners who are on fixed income. Company-specific impacts should be notable due to the likely impact on its asset values, she said.

Mortgages 493

Mortgages Lending Finance Industrial 493

Housing Wire

JULY 25, 2024

Home insurance premiums have risen by as much as $865 this year for homeowners who originally purchased their policies in 2021. In response, the mortgage industry and federal regulators are aiming to determine the best courses of action to mitigate the financial burdens on both homeowners and insurance carriers.

Industrial 476

Industrial Mortgages Loans As-is 476

Housing Wire

SEPTEMBER 20, 2024

The AG’s office took issue with MV Realty’s Homeowner Benefit Agreement. The AG’s office took issue with MV Realty’s Homeowner Benefit Agreement. Under the agreement, in exchange for a cash payment, the homeowner signs over the right to list their home for the next 40 years to MV Realty.

Title 446

Title Brokerage Agents As-is 446

Housing Wire

DECEMBER 20, 2024

Sessions added that the bill takes a practical approach to deliver meaningful relief to homeowners. By addressing a key inequity in the FHA system, this bill rewards financial responsibility and empowers homeowners across the country. Meeks (D-N.Y.) Mortgage insurance exists as protection from foreclosure on low equity loans.

FHA loan 418

FHA loan Mortgages Equity Loans 418

Housing Wire

FEBRUARY 4, 2025

Homeowners in California with an insurance policy from State Farm could see a 22% rate hike. In May 2023 , State Farm announced it was no longer accepting applications for new homeowners insurance policies in California. If approved, the new rates would go into effect May 1.

Commercial 431

Commercial As-is Marketing 431

Housing Wire

FEBRUARY 5, 2025

Additionally, a staggering 10 million plus homeowners struggled with mortgage delinquencies. For many, losing their homes meant transitioning into the rental market, further contributing to this shift from homeowner to renter. This leaves a lot of homeowners in place. From Census : The homeownership rate of 65.7 in Q2 of 2016.

Loans 385

Loans Mortgages Marketing As-is 385

Housing Wire

SEPTEMBER 10, 2024

In a traditional sense, the term “silver tsunami” refers to pent-up housing stock that older homeowners will eventually choose to sell, which would have the effect of flooding the market with new inventory. There’s a wide variety of reasons homeowners made this decision,” the survey results explained.

Mortgages 482

Mortgages As-is Marketing Sales 482

Housing Wire

AUGUST 21, 2024

Rising insurance costs have hammered homeowners in areas exposed to climate change risks, including wildfires. But CoreLogic said that regulatory changes can help to better cover homeowners these areas. CoreLogic recommends that homeowners use mitigation measures to lower the risk of their property being consumed by wildfire.

Closing 106

Closing As-is Marketing 106

Housing Wire

JANUARY 27, 2025

At the time the contract is settled, the homeowner must pay a lump sum back to the provider, an amount that is also partially based on the homes value. The report also said that such contracts tout loose underwriting requirements, enabling them to reach homeowners with low credit scores or little to no income.

Equity 368

Equity Mortgages Loans Residential 368

Housing Wire

JANUARY 8, 2025

While California law does not require homeowners to have fire insurance, most mortgage lenders do. As wildfires tear through Southern California and firefighters battle winds up to 100 mph, tens of thousands of residents have evacuated. The looming impacts on real estate and insurance are also at the forefront of Californians minds.

Banks 418

Banks As-is Development Closing 418

Housing Wire

OCTOBER 9, 2024

With the death toll from Helene crossing the grim milestone of 230 this week — and with thousands of impacted homes without flood insurance wiped away — this could lead to a ripple effect that drives homeowners insurance premiums even higher. The move paid off, since a hurricane arrived not long after. That’s no longer the case. “I

Mortgages 459

Mortgages Fixed-rate mortgage Industrial Construction 459

Housing Wire

SEPTEMBER 17, 2024

The product is a second mortgage with a below-market interest rate that allows a homeowner to tap into their equity without refinancing their existing mortgage. With lower monthly payments, made possible by shared home appreciation, homeowners can confidently pursue their financial goals with peace of mind.”

Equity 458

Equity Loans Debt-to-income ratio Renovation 458

Housing Wire

OCTOBER 18, 2024

When older homeowners wish to access a portion of their equity, there are multiple options. A refinance not only saddles the homeowner with a required monthly payment but will also typically result in a higher interest rate for those that refinanced in the last decade. Of course, selling the home is generally not desirable.

Mortgages 446

Mortgages Principal Equity Loans 446

Housing Wire

SEPTEMBER 11, 2024

According to S&P Global, insurance premiums increased nationally by 34% between 2017 and 2023, with even more increases hitting homeowners in 2024. The costs to buy a home have dramatically increased in recent years. The other piece of the affordability puzzle is income. Affordability is the cost relative to a buyer’s ability to pay.

Sales 468

Sales Mortgages Loan Officer Loans 468

Housing Wire

OCTOBER 22, 2024

Unexpected financial hardships are an unfortunate but not uncommon challenge facing many homeowners. To help overcome these obstacles, Sagent has created its Dara Loss Mitigation platform as a solution that modernizes how homeowners and mortgage servicers address financial hardship.

Mortgages 445

Mortgages Technology Design Investor 445

Housing Wire

JANUARY 15, 2025

Rising personal home insurance rates, fueled by escalating claims costs, increasing property values and the growing frequency of natural disasters, will all have a profound impact on market dynamics and homeowners insurance costs. For real estate professionals and mortgage lenders, these shifts present both challenges and opportunities.

Marketing 364

Marketing Commercial Mortgages Branding 364

Housing Wire

MARCH 7, 2024

Addressing rate lock-ins Homeowners who benefited from the post-pandemic, low-rate environment are typically more reluctant to sell and give up their rate, even if their circumstances may not fit their needs. The White House says that, if enacted, this would save thousands of homeowners up to $1,500 — or an average of $750.

Construction 535

Construction Closing costs Renovation Title 535

Housing Wire

JANUARY 27, 2025

Elevated materials, labor and borrowing costs , along with lingering economic uncertainty, continue to constrain large-scale remodeling projects, with cautious homeowners focusing on essential repairs and targeted upgrades rather than large discretionary remodels, the report said. Members of the U.S.

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Industrial Renovation Design As-is 380