Banks Principal Renovation 
Housing Wire
JULY 1, 2022
Banks reported an increase in foreclosures during the first quarter of 2022, according to a quarterly survey published by the Office of the Comptroller of Currency this week. The seven banks surveyed reported a total of 42,427 modifications completed, a 10.7% of the loans modified included a principal deferral, the OCC said.
Housing Wire
AUGUST 15, 2022
The Federal Reserve Bank of New York ’s second-quarter 2022 Household Debt and Credit Report shows that limits on HELOCs jumped by $18 billion in the second quarter of this year, “the first substantial increase in HELOC limits since 2011,” and an indicator of an increase in new originations. billion in 2021 to $4.6
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Housing Wire
MAY 3, 2022
For instance, if the homeowner has only withdrawn $50,000 of the HELOC for a renovation or downpayment on a new home, the person would only be paying interest on the $50,000. Once approved for a HELOC, they can access the line of credit as needed, as opposed to having cash sitting in a savings bank from a refi.
Housing Wire
JUNE 1, 2022
For instance, if the homeowner has only withdrawn $100,000 of the HELOC for a renovation or downpayment on a new home, the person would only be paying interest on the $100,000. Once approved for a HELOC, they can access the line of credit as needed, as opposed to having cash sitting in a savings bank from a refi.
The Close
NOVEMBER 25, 2024
Set Up Your House Flipping Business Operations Many believe flipping houses is just about buying, renovating, and selling. This means picking the proper legal structure, like an LLC, registering your business, and setting up separate bank accounts. It’s common for flippers to aim for an ROI of 20%.
Realty Biz
SEPTEMBER 18, 2023
This legal document enables someone to handle property matters on behalf of another person when the principal cannot manage real estate affairs or deal with transactions from a distance. In certain situations, a power of attorney for real estate becomes necessary. When selling a home while out of state, people commonly utilize it.
HomeLight
AUGUST 27, 2024
Understanding hard money loans is essential if you’re considering investing in property in Albany or tackling a home renovation project. ARV represents the estimated value of the property after renovations are completed. We’ll explain how these loans work, who they’re suited for, and what to expect regarding costs.
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