LA Program Funds Homeowners Who Shelter the Homeless

California’s homelessness crisis in continuously rising. To address this issue, the City of Los Angeles is coming up with a pilot program to curb the number of homeless people in the county. The program includes providing a handful of homeowners with the necessary funding to build accessory dwelling units for the homeless right in their […]

Taking out a Reverse Mortgage? You Might Want to Read CFPB’s Warning.

The Consumer Financial Protection Bureau (CFPB) gave a warning to consumers aged 62 and older who are considering a reverse mortgage to delay dipping into their Social Security benefits. In a 26-page issue brief dated August 2017, the Bureau determined that: (i) the costs of using a reverse mortgage exceed the total amount of Social Security benefits […]

Factors You Need To Look Into If You Plan To Refinance Your Mortgage

Refinancing home mortgages have been gaining popularity among homeowners. While mortgage rates continue to rise, it’s not surprising to get tempted to refinance a mortgage at some point. But then this move is only beneficial for certain situations. Before making a decision, it’s important to consider a few things. You need to ask yourself if your current […]

For first-time homebuyers, where’s the best or worst place to buy a home?

Where to buy a home? It’s a common dilemma shared by prospective homebuyers as they weigh what they want versus what they need. Finance website WalletHub somewhat made it easier by listing down the best (and worst) places for first-time homebuyers. The results came from its analysis of 300 U.S. cities based on 23 key metrics assessing market […]

Wages Now Struggle to Keep Up with Home Prices

The latest US Home Affordability Index datafor the second quarter of the year reveals an unsettling fact about homeownership in the country: it’s getting more expensive to own a home since the crisis hit in 2008. In a recent report provided by California-based housing data and analytics company ATTOM Data Solutions, the average price of a […]

Mortgage Applications Slide Down in Latest Weekly Survey

In the week ending July 7, the volume of mortgage applications had acutely gone down 7.4 percent for the previous week. This data** is reported by the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. SURVEY HIGHLIGHTS The overall Market Composite Index on the seasonally adjusted basis has decreased by 7.4 percent. On the unadjusted basis, […]