Fannie Mae And Freddie Mac
One of the most challenging things for first-time homebuyers is qualifying for a mortgage. Now, folks who have dipped their toes in the cryptocurrency game may soon have a little better luck qualifying if they borrow from Fannie Mae or Freddie Mac. William J. Pulte, director of the Federal Housing Finance Agency (FHFA), recently ordered…
As the nation’s economy unravels from the effects of Covid-19, here’s some good news: At least one major bank is offering consumer and small business clients mortgage relief and other consumer-friendly breaks. HousingWire reported late Thursday that Bank of America is offering clients a mortgage deferral program on loans in the bank’s portfolio: Bank of…
The economic impact of the novel coronavirus can’t be understated, as businesses limit service in order to slow the virus’ spread. Restrictions on public gatherings and service-oriented businesses have put a significant amount of the workforce out of work. Several government organizations are suspending evictions and foreclosures to keep workers in their homes despite their…
Sometimes roles are reversed, and parents end up needing a hand financially. But what’s the best way to help a parent buy a home when they don’t have the financial means to do it themselves? It’s an interesting situation that Bob Johnson (AKA Bob Mortgage) came across recently. In today’s 15th BobMortgage Zone episode, the…
First-time homebuyers are finding it harder and harder to get into their dream home.
The National Association of Realtors said that first-time homebuyers make up only 28 percent of the national housing market in a Jan. 28 new story, the lowest number since the organization started measuring the demographic in 2008. According to the NAR, first-time homebuyers typically make up about 40 percent of the market, but several factors are keeping them from purchasing a home, including higher competition for lower priced properties, which are being swept up by investors at increasingly high rates.
