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Experts weigh in on whether seniors should get new mortgages: Bankrate

Housing Wire

This is according to experts who spoke to personal finance website Bankrate about the concept of taking on a new mortgage in retirement. Seniors, even those of advanced age, are legally required to face the same qualification requirements as any other mortgage applicants. “I

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CFPB rule applies mortgage protections to clean energy loans

Housing Wire

PACE loans which are often used to finance environmentally minded renovations, like the addition of solar panels have led to financial instability for some borrowers. PACE loans caused borrowers property taxes to increase by about $2,700 per year or an 88% increase, according to the CFPB.

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What Metaverse real estate means for mortgage professionals

Housing Wire

Actual” real estate is defined as property consisting of land or buildings, and everything that is permanently attached to the land. There is a legal description. In Decentraland or Sandbox, for example, the legal descriptions are individual pixels (essentially code) that define the “parcels.” Defining virtual real estate.

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How the title industry is addressing the negative effects of heirs’ property

Housing Wire

Typically, when a person passes away, it is customary for a will to specify who will inherit the property. However, wills and estate planning can be costly, and many Americans do not have the resources to legally account for their property before they pass away. How is the title industry helping to address heirs’ property?

Legal 427
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EasyKnock wins arbitration case in Texas

Housing Wire

EasyKnock , which offers sale-leaseback solutions to homeowners, announced a legal victory in Texas on Wednesday as it was awarded more than $153,000 by an arbitrator. The company has been fighting legal battles on multiple fronts through a series of consumer-initiated lawsuits and actions by regulators in several states.

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CFPB Acts Against Contract-for-Deed Investors Targeting Low-Income Borrowers

Appraisal Buzz

While the industry is no stranger to predatory and/or unfair lending practices, new advisory opinion and research study on a type of home seller financing known as a “contract for deed” has been released by the Consumer Financial Protection Bureau (CFPB).

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How a D.C.-based reverse mortgage assistance program was revived

Housing Wire

At the end of August, the District of Columbia Housing Finance Agency (DCHFA) announced that it had relaunched its Reverse Mortgage Insurance & Tax Payment Program (ReMIT), which originally began in 2019 and expanded in 2020 before being halted at the end of 2021. We also partner with legal services to complete all settlements.

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