Remove 2008 Remove Insurance Remove Property Taxes
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CFPB warns consumers about home equity contracts, comparing their features to reverse mortgages

Housing Wire

But the bureau added that many of the touted features of home equity contracts are risky, with the CFPB comparing them to loan features that were prominent in the run-up to the 2008 housing crisis. But HECM loans are insured and regulated by the FHA, and they are only available for homeowners who are at least 62 years old.

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Investors turn their eyes to affordable housing opportunities

Housing Wire

There’s a growing sense that affordable housing is a stable investment class for banks and insurance companies; even in the 2008 – 2009 recession, it held up well.”. For instance, it’s possible that housing tax credits and other supports for affordable housing could be sacrificed or functionally negated by property tax increases.

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Top markets for affordable renovated housing inventory

Housing Wire

home price increase translated into a monthly mortgage payment of $1,179 on a median-priced home — not including property taxes and insurance. That means Americans are more bearish on buying a home than they were during the home price crash following the 2008 recession.

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How Reverse for Purchase can help baby boomer borrowers

Housing Wire

[They likely] would feel much more confident that they can keep a significant amount of the proceeds from their departure home and not have to make monthly mortgage payments, provided they continue to pay their taxes and insurance and maintain the home,” said Rob Cooper, National Purchase and Builders Sales Leader for Longbridge. “If

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Mortgage rates continue to climb beyond 7%

Housing Wire

At today’s rate, the monthly cost to purchase a home totals about $2,400, not including property taxes and insurance, a 17% increase from a year ago. In July, 26% of existing homes sold to cash buyers while 7% of new homes sold to cash buyers. For a majority of people, buying a home still means borrowing money.

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When borrowers ‘ghost’ their servicers

Housing Wire

Some are especially haunted by the Great Recession between 2008 and 2011. I usually figure a cost between 4% to 5% of the loan balance per year to property taxes, insurance, legal, servicer, inspections, in the judicial states, and between 2% and 3% in administrative states.”

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Making the Decision to Stop Renting

Eppraisal

If you've been able to save for a larger down payment, you may qualify for a lower interest rate and you won't have to pay private mortgage insurance (PMI) if you're able to put 20% down on a conventional loan. According to an article on Zillow.com, you also receive tax deductions such as your mortgage interest and your property taxes.