Keeping Current Matters

OCTOBER 21, 2020

Some originally forecasted that up to 30% of homeowners would choose to enter forbearance. Christopher Maloney of Bloomberg Wealth recently explained : “Almost one quarter of all homeowners who have demanded forbearance are still current on their mortgages…according to the latest MBA data.”. Here is why this time is different.

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Housing Wire

MARCH 7, 2024

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. It is also wary of some of the proposals.

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Housing Wire

JUNE 10, 2021

According to Zillow and Thumbtack’s Hidden Costs of Selling Analysis , the average homeowner spends over $15,000 in “hidden costs” to sell their home. . While a real estate agent’s commission is one of the most expensive costs, it definitely isn’t the only one. Sellers also have to pay closing costs.

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Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

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Housing Wire

JANUARY 29, 2021

As interest rates dropped, homeowners took advantage and refinanced their mortgages at lower rates. million homeowners are in forbearance plans. Besides a down payment, you’ll have to pay closing costs, property taxes, insurance, etc. The costs add up quickly.

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Housing Wire

DECEMBER 9, 2024

If 2024 was a rollercoaster, 2025 is shaping up to be a championship gameand every buyer , seller and homeowner has a shot at winning big. Save strategically: Even with down payment assistance, youll need some savings for earnest money and closing costs. Many sellers are offering to cover 2-3% of closing costs.

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Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. So, not only do we have 40% plus of homes with no mortgage, the nested equity homeowners have now is almost unfair.

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Housing Wire

APRIL 18, 2024

These include oversight of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac , mortgage purchases designed to improve affordability for low-income homeowners, vendor partnerships and investments in the Low-Income Housing Tax Credit (LIHTC) program.

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Housing Wire

AUGUST 5, 2022

Homeowners today are sitting on record levels of equity in their homes and given the pace with which prices have increased in recent years, even borrowers that have recently purchased or refinanced a home likely have sufficient, tappable equity to make a HELOC a viable borrowing option. Record levels of home equity.

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Housing Wire

NOVEMBER 19, 2024

While the co-chairs of the caucus wrote that they “applaud” Thompson and the FHFA’s efforts to promote homeownership for low-income Americans, they believe that the pilot program will not help to achieve the goal of “finding ways to ‘responsibly reduce closing costs for homeowners in a safe and sound manner.’”

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Housing Wire

AUGUST 5, 2020

According to UWM, a homeowner or buyer must have a FICO score of at least 640. If people are willing to buy or refinance at a higher rate, they can get a rebate toward closing costs,” he said. But if you want a lower rate, instead of getting that credit, 1.875% would cost an extra $6,940 in points.

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Housing Wire

APRIL 12, 2024

Between 2018 and 2023, homeowners insurance rates in Louisiana jumped 24.9%, according to an analysis by S&P Global. I’ve seen buyers ask for and get between $8,000 and $10,000 in closing costs covered. With transaction volume slowing, agents are doing everything they can to make sure the deals they have close successfully.

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Housing Wire

JULY 19, 2021

HousingWire: As borrowers come out of forbearance , what role do servicers play and what can they do to ensure homeowners understand their options including selling their home via auction? Once a homeowner decides to sell, it’s up to the servicer to ensure they fully understand each step of the home selling process. .

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HomeLight

OCTOBER 29, 2024

If you’re about to close on your Alabama home sale, you’re likely wondering how much you’ll owe in closing costs. Nationally, sellers typically pay between 6% to 10% of the property’s sale price in closing costs. Typically, sellers use their home sale earnings to pay off their mortgage and other closing costs.

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Housing Wire

JANUARY 30, 2024

This brought the nationwide tally up to 2,294, according to Down Payment Resource’s fourth-quarter Homeownership Program Index (HPI) report. Manufactured housing has a lower entry point than other types of homes and is helping many buyers to get their foot in the door, the report noted.

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Housing Wire

MARCH 20, 2024

The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process. Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday.

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HomeLight

JULY 11, 2024

Disclaimer: This article provides estimates of a seller’s closing costs that are meant for educational and research purposes only; our calculations are not a guarantee. Before planning your next steps, you’ll want to factor in your closing costs to determine how much money you’ll actually pocket when the sale is completed.

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HomeLight

OCTOBER 28, 2024

One of the most important things that you should keep in mind is that there are several costs you’ll need to pay to finalize your sale. Nationwide, closing costs for sellers can range from 6% and 10% of a property’s sale price. Property taxes In Maryland, county governments issue property tax bills in July or August each year.

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Housing Wire

MAY 20, 2024

This may lead an older homeowner to consider a product like a reverse mortgage, but potential borrowers should be aware of the product’s details and the informational resources they can access. Royster said that for a senior homeowner seeking access to additional cash, there is no one right solution for all.

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Housing Wire

OCTOBER 22, 2024

The tool also does modeling of potential savings for homeowners by analyzing various interest rates , closing costs and repayment options. “With Recapture, mortgage professionals can drive more business growth, maximizing opportunities within their closed loan pipeline.” ”

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HomeLight

AUGUST 13, 2024

When selling your home in Indiana, it’s important to understand the various expenses involved, including closing costs. In Indiana, closing costs typically include both state-specific fees and standard expenses that sellers encounter. What are closing costs? No showings, no repairs, no open houses.

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Housing Wire

DECEMBER 14, 2023

The research found that title and settlement fees are neither regressive nor represent a significant component of the overall closing costs. Given the typical borrower is paying more than $7,000 in closing costs, that might be an understatement. In fact, neither is true. increase in fees).

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Housing Wire

MARCH 8, 2024

Homeowners would still have the option of ensuring clear title through their own title policy or attorney opinion letter (AOL). According to a statement put out by the White House, the initial pilot program would only apply to “low-risk” refinances.

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HomeLight

AUGUST 12, 2024

If you’re selling your home in Utah, you’re likely curious about the costs involved in closing the deal. Closing costs are the various fees and expenses associated with the finalization of a real estate transaction. What are closing costs? Available to sellers throughout Utah.

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HomeLight

AUGUST 7, 2024

If you’re selling your home in New Hampshire, understanding closing costs is essential. Closing costs refer to the fees and expenses of finalizing a property sale. These costs include anything from loan payoff amounts and property taxes to real estate agent commissions and HOA fees. What are closing costs?

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HomeLight

AUGUST 21, 2024

One key detail to plan for is closing costs—those fees and expenses that arise when finalizing the sale of your property. In this guide, we’ll explain how closing costs work in San Diego and what specific fees sellers should anticipate. What are closing costs? Selling your home in San Diego?

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Housing Wire

JANUARY 18, 2021

An agent can keep you calm and informed, so you’re never in the dark when it comes to closing costs. Most homeowners don’t know the ends and outs of the mortgage industry. As a first-time homeowner, it’s a good idea to work with a real estate agent you have a connection with. Find a real estate agent who: 1.

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Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. That’s why builders are utilizing closing cost incentives and temporary rate buydowns often funded by lenders. “If It’s a lot of work, and there’s no guarantee that they will pay off. “A

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HomeLight

AUGUST 21, 2024

Curious about closing costs in Oklahoma? When you sell your home , there are expenses—known as closing costs—that come into play before the sale is completed. These costs typically cover things like loan payoffs, property taxes, and other essential fees. What are closing costs?

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Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. Please contact Longbridge Financial LLC for details about credit costs and terms.

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Housing Wire

JULY 12, 2023

United Wholesale Mortgage (UWM) on Wednesday announced two new home-affordability mortgage products designed to help underserved borrowers become homeowners. UWM, America’s top mortgage lender, is offering Special Purpose Credit Programs (SPCP) for Fannie Mae ‘s HomeReady and Freddie Mac ’s BorrowSmart Geo-Target programs.

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HomeLight

AUGUST 22, 2024

As you prepare for closing, you’ll encounter closing costs—fees tied to finalizing the sale. In this quick guide, we’ll discuss the specific closing costs Minnesota sellers can expect when selling their property. What are closing costs? Selling your home in Minnesota?

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Housing Wire

MAY 3, 2022

A Palo Alto, California-based fintech startup Point , which bills itself as allowing homeowners to tap into future home appreciation, closed on a $115 million Series C funding round, the company announced Tuesday. The program lets homeowners get cash in exchange for a certain percentage of future appreciation of their home.

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HomeLight

AUGUST 8, 2024

Knowing the full scope of closing costs is important for a smooth transaction. Closing costs are the fees and expenses paid when you finalize the sale of your property. Our guide will explain how closing costs work in Massachusetts and what sellers can expect to pay, helping you prepare financially and avoid surprises.

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Housing Wire

MAY 10, 2021

Homeowners can also use it to access financing solutions through their contractor. The high demand for housing combined with persistently low inventory has created an environment where home renovations are more prevalent and homeowners are searching for new ways to pay for these projects,” Stone said. in 2021 to $433 billion.

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HomeLight

AUGUST 19, 2024

When selling your home in Iowa, it’s important to understand the costs involved in closing the deal. Closing costs are the various fees and expenses that sellers are responsible for after a real estate transaction. What are closing costs? No showings, no repairs, no open houses.

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HomeLight

JULY 18, 2024

Selling your home is an exciting prospect, but many homeowners are surprised to learn just how expensive it is to finalize a sale. Sellers are on the hook for many closing costs that significantly affect their net proceeds when all is said and done. Closing costs for sellers in Tennessee typically is about 7% of the sale.

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