Worry About Pandemic Financial Options The Consumer Financial Protection Bureau says it has received a record number of consumer complaints in March and April as consumers grew concerned over their finances at the onset of the global pandemic. In March, CFPB says it received about 36,700 complaints from consumers about financial services providers. In April, …
Tag: News
May 27
Sellers May Need Some Patience
Sellers May Need Some Patience Homeowners trying to sell during the pandemic will likely need some patience and a degree of expectation that the process could take longer. Homes are taking about an average of 15 days more to sell—or about 27% longer—than a year ago, according to realtor.com®’s data reflecting the week ending May …
May 26
Where Home Buyers Find Greater Affordability
Where Home Buyers Find Greater Affordability The number of homes for sale has shrunk since the COVID-19 pandemic began. Some sellers pulled their listings, making it tougher for buyers to find a home and compounding the issue in many markets that were already inventory-starved before the pandemic. Indeed, protections against COVID-19 have exacerbated the housing …
May 22
Sheltering-in-Place Inspires Homeowners to Take on Remodels
Sheltering-in-Place Inspires Homeowners to Take on Remodels Homeowners are prioritizing remodeling projects centered around home offices and master bedrooms during the pandemic, according to a new survey of 1,000 consumers by Houzz, a home renovation and resource site. While consumers put off some remodeling projects when the coronavirus outbreak first began in the U.S., they …
May 21
Check List for Pre-Approval
Check List for Pre-Approval See the check list below for pre approval items you will need to get a mortgage approval offer. Having a checklist of the documents you’ll need when seeking a preapproval can really come in handy. John Coneys of Freedom Mortgage, (NMLS# 183853) can help if you have any questions about the …
May 20
Google Searches of Homes for Sale Show Strong Rebound
Google Searches of Homes for Sale Show Strong Rebound Americans are resuming their house hunting online after taking a pause during the initial stages of the COVID-19 outbreak. One way to track potential buyer interest: internet searches. 10 Metros With the Largest Spikes in Google Searches The following cities have seen the largest increases in …
May 19
PPP Loan Forgiveness Application Released
PPP Loan Forgiveness Application Released The Small Business Administration and U.S. Treasury Department have released an application for business owners to have their Paycheck Protection Program loan forgiven. Real estate professional who received a PPP loan should complete and submit the application, which was released Friday, to their PPP lender. The program was created through the …
May 18
Fannie, Freddie Allow Payment Deferral Post-Forbearance
Fannie, Freddie Allow Payment Deferral Post-Forbearance Mortgage financing giants Fannie Mae and Freddie Mac announced that homeowners in forbearance can request payment deferrals and tack any missed payments on to the end of their loan term, without penalty or added interest. Under forbearance, homeowners are still required to repay any missed payments. But the government-sponsored …
May 15
Builders Offer Incentives to Draw Out Buyers
Builders Offer Incentives to Draw Out Buyers Homebuilders want to turn buyers on to new-home construction, and they’re willing to sweeten the pot to do so. More builders reportedly are offering discounts or offering free upgrades—like new appliances—or covering closing costs to attract buyers. Most of these incentives appear to be targeted at new homes …
May 14
80% of Tenants Paid Rent in April
80% of Tenants Paid Rent in April Despite the pandemic, the majority of tenants are still keeping up with their rent payments. The majority of renter households—80.2%—made a full or partial rental payment for the month of April by May 6, according to the National Multifamily Housing Council. The analysis, which tracked 11.4 million …
May 13
Road to Freedom – Selling your home.
Road to Freedom – Selling your home. Use the information below to help prepare you to sell your current home and get into your new home quickly. The road to selling a home can be daunting without the help of a professional real estate agent. It’s our goal to get your home sold quickly with …
May 12
SBA Disaster Loans Capped at $150K, Limited to Agriculture
SBA Disaster Loans Capped at $150K, Limited to Agriculture New restrictions on the Economic Injury Disaster Loan program may prompt real estate professionals to look to other funding programs. Responding to the skyrocketing demand and evaporating funding, the Small Business Administration has reduced the size of loans it will issue through the EIDL program. …
