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Updated: Tuesday, March 31, 2020

Do You Really Skip Two Payments When Refinancing?

Sounds like a pretty good idea, doesnt it? Take a break from making this months mortgage payment plus skipping the next one? Who wouldnt want that? But lets take a closer look at what actually goes on with those payments during a refinance transaction.

First, lets understand that mortgage payments are made in arrears. Its the opposite of a rent payment. When renting, youre actually paying for the month youre about to live in. With a mortgage, youre paying for the month you just lived in. For instance, you make your mortgage payment on the first of the month, but the payment is for accrued interest from the previous month.nbsp;

You might have noticed this when you first bought and financed your home with an entry on your settlement statement noting prepaid interest and a range of dates. If you closed on the 25th of the month, the interest collected would be from March 25 March 31. That would amount to seven days of interest collected at your closing. But heres where the skip part comes in- because you made your first payment of seven days and because interest is paid in arrears, you dont have to make your first payment on the first of the next month because you already paid it at your closing. You paid seven days. You didnt really skip anything, you just paid it ahead of time.

Now look at a refinance. When your new lender seeks out a payoff from the old lender, the payoff amount will be the principal balance plus interest that has accrued for the current month. Lets look again at closing on the 25th. The payoff will include the outstanding loan balance plus unpaid interest. Because refinances require a three-day rescission period before funding, the loan would fund on three days later. In this example, the loan would fund three business days after the 25th. Borrowers have a right to change their minds for pretty much any reason whatsoever up until midnight on the third business day after signing closing documents. The rescission cant be waived, even if youre completely satisfied with your loan and wondering why theres a wait.nbsp;

If your refinance funds on the 29th for example, the payoff will include the outstanding loan balance from the old lender of 29 days and 2 days for prepaid interest for the following month. This is the two months worth of skipping payments. Yes, you did make your mortgage payments, its just not paid directly out of your pocket like a regular monthly payment. Instead, its included in your new loan amount. Borrowers certainly have the right to not include interest in arrears and prepaid interest in the final loan amount, but most do. Its your choice.

But if you hear of a loan officer talking to you about refinancing and the loan officer mentions you get to skip two payments, while it sounds good its really not the case. You made those two payments, just in a different way. Still, though, your pocketbook will feel a little heavier because you didnt have to make those two payments from your own bank account.


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5 Necessary Steps to Flipping a House

1. Research the Real Estate Market

Not every market is the best choice for flipping houses. For example, if youre starting off with just 10,000 that you can work with out of pocket, you probably shouldnt start flipping houses that are being listed in the millions. It wont work out well for you and youll end up with less than you started with. The general rule of house flipping is the less cash you have to work with, the less the house should cost overall. That means that the first two questions that you need to answer are:

How much cash are you starting off with?

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What market can you afford to work with?

You need to know where the neighborhood that youre planning on working with sits on the scale of A to D. A neighborhood that is >

2. Set a Budget and a Plan

Youd be setting yourself up for failure if you went into this without a real plan. It doesnt have to be fancy or crazy, or even super in-depth. You need to know how much youll think the flip is going to cost you and how much youre going to make off of it. Also, make sure that youre never buying anything that has major problems that you wont be able to fix within your budget. For your first house, you want something that you can flip fast and easy.

3. Find the Right House

The next thing that you need to do is to find the right house to start your work on. Again, this is where the neighborhood >

4. Renovate

Here comes the part that you were expecting: the renovation. This is one of the most important parts of the process. Youll be on the clock working on the house all day and into the night since the faster you can flip the house, the more youll make. Add features that make the house feel homey. Add a skim coat to the walls to make everything last longer and to give it an appearance of quality. Every month that you spend working on the house youll lose money. You have to pay to taxes, bills, and insurance. Because of all of that, try to finish the home as soon as possible.

5. Get Ready to Sell

The final step of the process is thankfully the easiest. All you have to do now is sit back and get ready to sell the home. Its up to you to set the price that you want to sell it at. You want to sell it low enough to make sure that the house is >

Once youve done that, you can move on to bigger and better projects.

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How to Buy Your First Home

Set yourself up for success by using these five tips when buying a house:

Repair and Build Your Credit

This is a step that has to be done before you start negotiating rates and looking at houses. If you have a lot of debt to pay off you will need to start paying it off or find some way to repair your credit. You want a good credit score because that will allow you to get better rates on a mortgage.

If you do not own a credit card you will want to get a credit card. You can start out with a nice credit card for beginners that will not cost you anything. All you have to do is pay off the credit card monthly. Use it for purchases that you would normally make such as gas and rent. Instead of using your debit card or cash use your credit card and pay it off on time. nbsp;nbsp;

Down Payment

To buy a house most people need to take out a mortgage, which is a loan specifically meant to buy a house. Most people will not be able to pay 200,000 plus dollars in one payment so they take out a mortgage and pay that off throughout the years.

You are going to need some kind of down payment to get the mortgage that you want. Typically anywhere from a 15 to 20 percent down payment is what banks and lenders are looking for when issuing a mortgage. There are zero percent down mortgages but, as with any loans, there are pros and cons to them.

Find a Realtor

You do not have to have a realtor but a lot of people do not know a lot about home buying so they hire a real estate agent. There are perks of using a real estate agent such as not having to deal with a lot of the paperwork. Real estate agents are great if you are too busy to do all of the nitty gritty work of buying a house. They are also great if you are brand new and not really sure what to do.

Attend Open Houses

Having a realtor allows you to go to open houses that they are putting on. They can also give you places that have good homes that fit your personal preferences. This could include buying a new home versus a used home. Figure out if you want a large home with a yard or a small apartment in a quiet neighborhood.

If you dont have a realtor you will have to do some searching on your own. This could include using search engines to look for open houses.Driving around a neighborhood or town where you want to live is also a good way to find out what houses are for sale.

Sign Paperwork and Lock Down Rates

After you get approved and after you find a house this means a lot of signing paperwork. Look at what each place needs before you go and sign papers. You will need to bring different forms of identification and maybe some past bills for proof of residency and payment.

Having your information ready to go shows that you are on top of everything and this will help speed the process up and help you lock down low rates on mortgage payments. nbsp;

Buying a house is a lot of work and will not happen overnight. Start making some small changes in your life and start saving for your first home. Soon you will make your dream of being a proud homeowner a reality.


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Private Lending During the Coronavirus

Varying government agencies have taken similar steps to those during 1918s pandemic to quell the spread of the coronavirus; isolation, quarantine, use of disinfectants, and limitations of public gatherings. These measures seem to be the fastest way to rid the general population of this kind of virus. During these times, the economic effects are dramatic.

An article by Thomas Garrett, Assistant Vice President and Economist for the Federal Bank of St. Louis, written in 2007 examining the economic effects of the 1918 influenza pandemic, indicated an eerie parallel to todays world. Merchants in Little Rock stated their business had declined 40. Others estimated a decrease of 70. The only business in which there had been an increase in activity was the drug store.

One difference in the two pandemics seems to be that the one in 1918 was reactive, whereas the current one appears to be proactive. In 1918, not only were businesses hit hard by the isolations/quarantines of people, thus, few people to enter an establishment to conduct business, but the number of workers affected with the illness were tremendous; thus, the labor force and the income derived by them had decreased substantially. The current pandemic has, potentially, some advantages over the 1918 pandemic; countries around the world have taken the above mentioned steps in the early stages of todays pandemic. With todays internet, not available in 1918, many workers can work at home. Companies such as Amazon still make home and office deliveries. The proactive measures that the world is taking will, hopefully, curtail the coronavirus so that it is short lived and we all can get back to a >

Garrett points out that most of the evidence indicates that the economic effects of the 1918 influenza pandemic were short-term. Many businesses, especially those in the service and entertainment industries, suffered double-digit losses in revenue. Other businesses that specialized in health care products experienced an increase in revenues. Some academic research suggests that the 1918 influenza pandemic caused a shortage of labor that resulted in higher wages at least temporarily for workers.

How does this affect the private lending sector? In early February 2020, prior to the US Government implemented guidelines of ways to help eradicate the virus such as no public gatherings of more than 250 [since lowered to 100 and in some cases, 10], there was an ample supply of money flowing into private lending. In addition, the capital markets were healthy and hungry looking to place money in loans. The stock market was at an all time high of over 29,500. By March 20, 2020, the stock market dipped below 19,000, a loss of more than 35. Investors, as well as bankers, pulled back their appetite to place funds, as fear and concern pushed these would be providers of capital to sit on the sidelines, as most tumultuous markets make investors anemic.

In addition, although Federal Funds Rates are at near zero, many large banks have, for the most part, stopped accepting loan applications. Most banks will honor their commitments to fund loans that were already approved, but, until things settle down, they do not want to take what they consider, undue risk.nbsp;

The capital markets [those buying loans] have all but dried up. They did not slow down. They just stopped altogether.at least for now.

Private lenders are lowering LTVs and charging higher points and interest as the supply of money has shrunk. Private lending companies derive most of their capital from individual investors. Many of these investors are skittish during uncertain times. When the supply of money seemed to be endless, especially in California, rates and points charged were at historic lows [in the private lending community]. The demand for loans, however, has not been dramatically affected yet. The reason for this is that the supply of money provided by conventional lenders has diminished. Since conventional lending makes up the majority of capital available to lend, this factor has more than made up for the slower demand of loans needed. Although some borrowers have cancelled their applications for loans due to uncertainty, there always seems to be a need to serve the borrowing community. People still move, loans come due, refinances as rates drop still occur and these loan requests need a home.nbsp;

Individual investors are demanding an increase in yield even at historically low rates. This could be due to these investors attempting to take advantage of the low supply of money available for loans. It also could be that these investors remember when they were able to command a higher yield during uncertain times such as the Great Recession starting just 12 years earlier; however, the predominant reason is most likely due to the unknown of how this virus will play out in the real estate market in an almost certain recession that will occur. These investors will demand a lower loan to value on the loans they are making in addition to a higher interest rate. Private lending companies that previously sold to the capital markets will also have to pay their investors a higher rate to attract money; thus, they will have to charge the borrower a higher rate. They will most likely also increase their spread at what they charge the borrowers as compared to what they pay their investors. Quality loans will be in demand for these companies. Loans that may have been marginal from a risk/reward standpoint just a few months ago will be turned down by many lenders.

If Garrett is right about a short lived economic impact due to a pandemic, there is a window of opportunity for those investors willing to lend. Due diligence will be very important, and investors should not presume that a recession is not prolonged. Conservative underwriting will be the law of the land and lower loan to values will be the benchmark. As one private lending company pointed out, there is always money to be made in real estate; one just needs to be prudent. So far, the number of illnesses and deaths worldwide have been >


Edwardnbsp;Brownnbsp;is in the Investor >
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March Real Estate Roundup

Freddie Macs results of its Primary Mortgage Market Survey shows that "The Federal Reserves swift and significant efforts to stabilize the market were much needed and helped mortgage rates drop for the first time in three weeks. Similar to other segments of the economy, real estate demand is softening. However, the combination of the Feds actions and pending economic stimulus will provide substantial support to the mortgage markets."

30-year fixed-rate mortgage FRM averaged 3.5 percent with an average 0.7 points for the week ending March 26, 2020, down from last month when it averaged 3.51 percent. A year ago, at this time, the 30-year FRM averaged 4.06 percent.

15-year FRM this week averaged 2.92 percent with an average 0.6 points, down from last month when it also averaged 3.00 percent. A year ago, at this time, the 15-year FRM averaged 3.57 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage ARM averaged 3.34 percent this week with an average 0.3 points, up from last month when it averaged 3.24 percent. A year ago, at this time, the 5-year ARM averaged 3.75 percent.


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How to Buy a House Right Now

These are uncertain times, to be sure. But those same low rates that are driving refis are also attracting homebuyers. The 30-year fixed mortgage rate hovers above 3 percent, the lowest that it has been in nearly 50 years, Andrina Valdes, executive sales leader and CEO ofnbsp;Cornerstone Home Lending, Inc., told Apartment Therapy. The lower the mortgage rate, the lower a monthly mortgage payment is likely to be. So, anyone whos on the fence and thinking about buying a home could really benefit right now by purchasing at a record-low rate.

The truth is, there are still homes on the market. There are still people who need to sell. And there are still people who need or want to buy. If youre one of them, youre probably wondering how to go about it. iBuyers have largely shut down enti>

So how can you buy something you cant see? Its time for technology to take over. This time the use of technology may have a significant part to play in how the housing market can try and continue in a normal fashion, said Bindi Norwell, chief executive of thenbsp;Real Estate Institute of New Zealand on One Roof.

That means that your house tour will probably be virtual. Agents are embracing the tech available to them to bring homes to buyers since they cant bring buyers to homes.nbsp;nbsp;

As an alternative to in-person viewings, some agents are turning to tech, offering buyers virtual tours, said the New York Times. The NYC-based Ideal Properties Group launched a virtual listing viewer called Showings on Demand.nbsp;

Individual real estate agents have followed suit. Kendyl Young, Broker/Owner at Glendalenbsp;DIGGS, just held a Facebook Live Open House for her new restored Post and Beam, mid-century modern listing near Brand Park in Glendale, with plans to do more. Ill show you around the space and take your direction, she said on Facebook. Want me to show you a particular room? I will. Missed the part where I showed off the family room? Tell meIll go back. A close up of the super cool family room fireplace wall? Illnbsp;get closer. You are the PUPPET MASTER and I am at your direction.

Its all part of being able to adapt to clients needs during this time.nbsp;

Buying a home will always be a very human experience, but we need to adapt to this crisis, she told us. Physical showings are not safe, and we can marry technologies like 3-D scans, Webb meetings, and video conferencing to provide a pretty reasonable virtual experience. We must find ways to serve our clients while staying safe.nbsp;

Elle Jones of Keller Williams Harma Real Estate team is showing her new San Fernando Valley, CA listing, among others, via FaceTime. If youd like to view a house, Im happy to go by and do a FaceTime walk through for you, she posted on Facebook. If youd like to see my Newlisting in ShermanOaksnbsp;even better Lets get through this together


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Four HOA Reserve Fund Investment Hurdles

Hurdle 1: Failure to use the Reserve Study or not having one in the first place. Homeowner association boards have the duty to conduct long range planning to identify common elements, their current condition, their useful lives and current cost of repair or replacement. This exercise is called a Reserve Study. Some boards believe that a reserve study provides little benefit except to point out the obvious.

These same boards either elect not to pay the cost of one or put the one they have in a file to gather dust. Both approaches are foolish because without a clear road map to follow, the board is bound to get lost in the maze. Properly funding reserves for the standard 30 year projection period could amount to many hundreds of thousands of dollars. Larger HOAs with extensive common elements should reserve millions.

Failure to fund reserves adequately results in unfair and sometimes uncollectible special assessments. Prudent investment of reserve funds could partially offset member contributions and reduce the risk of special assessments.

Hurdle 2: Failure to understand investment choices. Some boards are under the impression that FDIC insured money market accounts or CDs are the only alternatives for reserve fund investments. There are a number of alternatives. State laws vary but in Oregon, for example, HOAs are limited to direct investment in issues of the federal Government and/or FDIC bank accounts or CDs. HOAs are not permitted to invest in municipalities, mutual funds or indirect investments investments to which the investor does not directly hold title, such as mutual funds, limited partnerships and Real Estate Investment Trusts. Non-FDIC insured money market accounts are not to be used for homeowner association reserve investments by law. This creates an opportunity to invest in longer term federal bonds. As of the writing of this article, the going rate of a10 year government bond is around 2.91compared with bank checking accounts that average around 0.5. This increased yield could go a long way to reducing the need for a special assessment. The challenge with investing in 10 year bonds is determining how much should be invested in them. Fortunately, the Reserve Study is very useful in determining the short and long term reserve cash needs.

Hurdle 3: Failure to utilize the Reserve Study when selecting investments. The first step in considering higher yielding investment opportunities is to put that Reserve Study to work. The Reserve Study can be used to match the repair schedule with the investments. This allows combining shorter term/lower yield CDs with longer term/higher yield Treasury Bills. This type of investment strategy is called a Duration Study. Even though a Duration Study costs money to perform, the extra interest return that can be earned by matching the investment duration to your specific HOA is well worth it. Duration studies and the investment mix need to be redone every time a Reserve Study is updated.

Hurdle 4: Not hiring a fiduciary. Regardless of how the board chooses to invest the HOAs Reserve Funds, time, expertise and professional ability are needed to manage them properly. It is in the boards interest to find someone that has the HOAs well being at heart, such as an investment advisory company that is a fiduciary to the board. By better managing your reserve funds, you avoid the hurdles described and improve reserve investment yields. Leave the hurdling to the track stars. Use a trained financial consultant to optimize your reserve fund investments.

For more innovative homeowner association management strategies, see Regenesis.net.


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Cabinet Styles Perfect for Different Types of Kitchen

The kitchen is the heart of the home. This place is one of the most favorite places of moms, and for them, it is important to maximize the kitchen space so as to represent their personality and to serve their culinary needs efficiently.nbsp;

Whether the space is big or small, there are definitely plenty of ways to spice up the kitchen and do all their duties without the hassle With that, it is important to select a suitable type of furniture for your kitchen.nbsp;

So, without further ado, lets take a look at the list of cabinets recommended for the various types of kitchen:

  • Shakernbsp;
  • Shaker cabinets are recommended for kitchens that are square and quite smaller in size. It is known for its simplicity with its basic hardware and recessed panel doors positioned like a frame. The material for most shaker cabinets are made from hardwood and are painted with a distressed finish for a traditional vintage look.nbsp;

  • Insetnbsp;
  • Inset cabinets are composed of an inset->

  • Flat-panel
  • Flat-panel cabinets are best for people who prefer a minimalist kitchen design. These cabinets make use of hard lines and are frameless in structure. This type of design fits most modern kitchens, especially white ones. This is also preferable for kitchens with smaller spaces as they are built in a simple but stylish way.

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  • Louvered
  • Louvered kitchen cabinets are usually made up of wooden horizontal slats. This is commonly used for windows and laundry areas but is now being adapted into kitchen cabinet designs as it offers enough ventilation for utensils and items being stored in a cabinet. This type of design is most suitable for kitchens with large spaces for a more stylish look.nbsp;

    nbsp;

  • Custom
  • For home-owners that are unsure of what type of cabinets suit their kitchen, there is always an option to have them customized. You may contact local interior designers or anbsp; craftsperson to help you ideate and implement the design suitable for your taste, kitchen space, budget, and overall home design.nbsp;

    Choosing a type of cabinet for your kitchen is highly dependent on the size of your kitchen, home design, and your spending budget. Other factors to consider would be the durability and material of your cabinets.nbsp;

    While it may seem to be a less priority, taking time to think about your kitchen cabinet designs will su>

    nbsp;


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    Top Tips for Working From Home

    But working from home takes a certain kind of discipline. And flexibility. And finesse. Especially if your spouse is also working from home and your kids are out of school. If youre new to this, we have a few tips that will help it go smoothly.nbsp;

    Eat and drinkthe right stuff at the right time

    Its easy to get caught up in work and forget to eat or get enough water during the day. Its also easy to take too many trips to the kitchen for snacks, and, before you know it, your healthy habits are going down in a hail of potato chips. Stocking up on healthy food and limiting the high-fat, high-sugar, high-calorie snack foods can help you resist temptation.

    Build in exercise

    Working from home means youre out of your regular pattern, which means youre not getting to the gym. You may also find yourself sitting for longer periods while at home without the normal daily office realities of meetings and trekking to different parts of your workplace. There are tons of ways to get in a workout from homeespecially now, since a number of gyms and fitness experts have put their workouts online. Many of them are also free.nbsp;

    Entrepreneur suggests you take walking meetings when you can.nbsp;If you have a phone call that you dont need to be in front of a computer to take, pick up your Bluetooth headphones and getnbsp;outside. Its great for your muscles, your heart, your happinessnbsp;and your overall well-being.nbsp;

    Be one with the mute button

    It might be cute one time to hear the dog or kids in the background, but you dont want to make a habit of it, especially if youre in for a prolonged working-from-home situation. Even small noises that you think nothing of, like ruffling papers, can be amplified over a cell phone. Get used to hitting mute when youre on calls from home to eliminate the background noise and you wont have to worry about your three-year-old announcing she just went pee-pee in the potty while youre on a call with your boss and 10 other executives.nbsp;

    Designate a work-only space

    This may be easier said than done. In some homes, there just isnt a dedicated home office or even a bedroom with a door you can close. You may find yourself having to work at the kitchen table or in the backyard just to get a little privacy. If you can, however, find a private space you can make your own while youre working from home. It can increase productivity and also allow you to separate work from life so, when you shut the door at the end of the day, you can be present for your family.

    Get dressed in the morning

    Or dont. Its totally up to you. Many people who work from home feel it makes them more productive if they get up, take a shower, and change into work-appropriate clothes. Others think working in their jammies is the best thing ever We tend to agree. The trick to successfully working from home is figuring out what works for you.

    Make a schedule

    Set a schedule, and stick to it...most of the time, said PCMag. Having clear guidelines for when to work and when to call it a day helps many remote workers maintain work-life balance. That said, one of the benefits of remote work is flexibility, and sometimes you need to extend your day or start early to accommodate someone elses time zone. When you do, be sure to wrap up earlier than usual or sleep in a bit the next morning to make up for it. Automatic time-tracking apps, such asnbsp;RescueTime, let you check in on whether youre sticking to your schedule. They can also help you figure out what times of day youre most productive versus when you slack off. You can use that information to your advantage by reserving your hours of high focus for your most important tasks.

    Give yourself a break

    Set an alarm to get up once an hour, stretch, and walk around the house for a few minutes. Know your companys policy on break times and take them. If youre self-employed, give yourself adequate time during the day to walk away from the computer screen and phone, said Buzzfeed.

    Be social

    Working from home can feel isolating, especially if you get energy from your regular workspace and colleagues. One undeniable loss is the social, casual water cooler conversation that connects us to people, said NPR. To fill the gap, some co-workers are scheduling online social time to have conversations with no agenda. Use Slack chats and things like that if you miss real-time interaction.

    Inc. has a few good ideas for how to be social during your break time. Walk around your home while chatting on the phone with a friend. Move to a separate areaaway from your emailto eat lunch for 30 minutes. Breaking up the day and moving your body enables you to refresh and can increase your productivity when you return to your work. When the weather is nice, I like to do conference calls while taking a walk outside.


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    Coronavirus and Real Estate: The Latest News

    Fannie Mae, Freddie Mac, and HUD suspend foreclosures

    Fannie Mae and Freddie Mac have been directed to suspend foreclosures and evictions for at least 60 days due to the coronavirus national emergency, said the Federal Housing Finance Agency FHFA.nbsp;

    This announcement comes on the heels of the Presidents press conference, during which he proclaimed that the Department of Housing and Urban Development HUD would suspend evictions and foreclosures until the end of April. The effort is geared at stabilizing the housing market and avoiding a repeat of the spike in foreclosures witnessed in the 2008 financial crisis, housing experts said, according to CBS News.

    According to Denver-based real estate attorney Jeff Friedman of national law firm Hall Estill, this action by the government could protect homeowners at a critical time and ward off a potentially disastrous economic downturn.nbsp;

    "Its no surprise that the coronavirus is wreaking havoc throughout our markets and the economy, he said. But, the CFPB, HUD, and FHFA have reached an elegant solution to an enormous problem at a critical phase in our nations current circumstances. In a typical down real estate market, the daisy-chain, domino-effect reaction goes as follows: apartment renters lose their jobs or take significant pay cuts and can no longer afford to pay their rent; owners collect less rent and cannot make their debt service payments to their lenders; and lenders are not collecting enough on the debt service, with their loans now on distressed real estate assets. Evictions and foreclosures follow, with distressed assets available to vulture buyers. Here, however, the CFPB, HUD, and FHFA have stopped this process before it starts, giving renters and financial institutions the opportunity to address claims through a dispute resolution mechanism administered by the CFPB.

    Bank of America announces mortgage payment pause

    We talked last week about the possibility of a mortgage holiday in the United States after Italy announced it would suspend mortgage payments, and now Bank of America is the first institution to make it a reality.nbsp;

    The bank announced additional support for consumer and small business clients experiencing hardship from the impact of the coronavirus. Included among those support options is the ability to defer mortgage payments, said HousingWire. According to the bank, Bank of America mortgage and home equity customers can request to defer their payments while the virus crisis rages. The payments would then be added to the end of their loan. According to the bank, the payment deferral will be available on a case-by-case basis and can be extended on a month-to-month term.

    President considers mortgage holiday

    The Trump administration is considering a plan to allow homeowners whose income was cut by the coronavirus to delay mortgage payments. Still to be decided is a mechanism for borrowers to catch up, said Bloomberg. The government also will have to determine how to advance money to mortgage servicers so that investors in mortgage-backed securities get their guaranteed payments.nbsp;

    Homeowners impacted by disasters in the past have been able to take advantage of forbearance programs. Per Bloomberg, The White House has been in touch with mortgage lenders to discuss their views on policy responses, according to an official who requested anonymity to speak about internal matters.


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