After a tumultuous few years in the housing market, the rules are starting to change -- for the better. Here are seven frequently asked questions about the new 'qualified mortgage' rules and answers about how it affects your mortgage.
New York City funnels billions of dollars annually into the growth and enrichment of our city. It is time we dedicate our resources to building housing that is truly affordable, for all.
Being a champion of homeownership or affordable housing options is not risky policy, it is essential to growing wealth. Unfortunately, as pointed out by many civil rights organizations, there are provisions of the Johnson-Crapo discussion draft that will only exacerbate the current disparities in homeownership rates.
The housing finance system -- as well as other national housing policies -- needs to serve a country where local home prices in some markets are 10 times as high as in others, and where local and state laws affect how much new construction is allowed, how long foreclosures take, and more.
There are families in America who feel they have done all the "right things." They have played by the rules and worked hard but they aren't getting ahead financially. They have many things in common but the thing that is most striking is their racial make-up; they are mostly African-American and Latino.
At the moment, it seems Fannie Mae and Freddie Mac are doing their job just fine. They are issuing mortgage-backed securities (MBS) that include more than 60 percent of new mortgages. Interest rates on mortgages are low and both companies are making substantial profits that are refunded to the government. Why is there any need to overhaul this system? The financial industry is of course unhappy with this situation. It sees the money being earned by Fannie Mae and Freddie Mac as money that could be going into its pockets. Of course, there is nothing that prevents Goldman Sachs, Citigroup, and the rest from going out and issuing their own MBS right now. The problem is that they have a really awful track record. Remember the financial crisis? And of course it is especially hard for them to compete with two relatively efficient government-run issuers like Fannie and Freddie.
Looking for a new home can be a challenge, especially when you walk into someone's for-sale home and 20 years of their lives are on display. You have to really use your imagination to determine how you can that particular home 'yours.'
If you're thinking about buying or selling a home, one of the first things you'll need to have down is your partner in crime: your real estate agent.
The Senate Banking, Housing, and Urban Affairs Committee is scheduled to vote on a massive proposal to overhaul the nation's mortgage finance market. Yet the draft language released by the authors has raised concerns across the political spectrum.
Instead of expanding homeownership opportunities, the Johnson-Crapo proposal tells working and middle-class families that homeownership will be reserved for the fortunate few. That is simply wrong, and we can do better.
While there's evidence that the Fed's large-scale asset purchase program had direct impact of lowering longer-term interest rates, there's less evidence that it hit its broader, indirect target of investment, growth and jobs.
So, what does a family do when their lender denies a loan modification and instead insists on foreclosure? File bankruptcy. What happens a few months later when the lender has court permission to reschedule the foreclosure sale? The homeowner files bankruptcy again.
San Diego's sunny beaches and beautiful college campuses can be deceptive. The city's soaring housing costs force university students and low-income f...
Open houses are an exciting adventure, but have their own set of rules. You need to follow them in order to turn open house shopping into a dream house purchase.
What does one need to understand to help you come to terms with the 20 percent down number? Let us explain. See below for all the reasons why you should love the idea of a 20 percent down payment.
"When we talk about race... there's a divide when it comes to home ownership and the creation of wealth," said Mark Hugo Lopez, director of Hispanic r...