Buying your home as an investment is a ‘1990s mentality’
The stock market has long since recovered and has set record after record. The economy is generally sound, unemployment is down and inflation modest.
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FHA losing customers rapidly as premiums spur refinancing
ByadminThe Federal Housing Administration's financial health is benefiting from continued reductions in delinquencies and foreclosures, but the FHA is also losing some of its best customers at a fast clip. The “serious” delinquency rate on FHA-insured home loans dropped to 4.28% in the third quarter of fiscal year 2017, according to an FHA quarterly report…
Young Black Professionals, HBCU Students Join Movement for Homeownership, Financial Education
ByadminThe housing crisis that caused more than nine million people to suffer foreclosure and even homelessness due to the economic slump across the U. S. 10 years ago, has now fully recovered for everyone – except people of color – especially African-Americans. Foreclosure News
Alabama Supreme Court: Mortgage Requirements Must Be Strictly Followed
ByadminIn a recent surprising loss for mortgage holders, the Alabama Supreme Court held that a failure to strictly comply with the exact terms of the mortgage when conducting a foreclosure sale can result in the sale failing. Thus, lenders should be especially careful to conduct foreclosure proceedings exactly as required by their mortgages or risk…
Equity-strapped sellers in Twin Cities keep starter homes in short supply
ByadminReal estate agent Joslyn Solomon, left, chatted with Erin Simonson, right, as her daughter ate peaches in the kitchen. She was visiting to discuss what Simonson should list her house for later this summer. Foreclosure News
On-the-run billionaire’s posh pad up for sale – for a ‘great value’
ByadminWhile a disgraced Nigerian oil-trading billionaire is on the run from authorities , his posh West 57th Street pad is back on the market – at the wholesale price of $ 39 million. Kola Aluko is believed to be on his $ 80 million 213-foot yacht , the Galactica Star, dodging justice. Foreclosure News
California Must Pay Back $331 Million to Help Homeowners Hurt by Foreclosures
ByadminWhen California received $ 410 million as part of a settlement with banks accused of abusive foreclosures, the state used most of the money to offset state deficits. Now an appeals court says the state must return the funds to help homeowners hurt by the foreclosures — like it was supposed to do in the…