5 Important Details About the First-Time Homebuyer

First-time homebuyers play a big role in the housing market, but where are they in the scheme of the housing recovery? Twenty-eight percent – that was the share of first-time homebuyers in November, according to NAR’s latest existing-home sales report. Far below the traditional level of 40 percent, the share [...] Read more »

CFPB’s new ‘qualified mortgage’ rule now in effect

This week, the Consumer Financial Protection Bureau’s (CFPB) new qualified mortgage (also known as the ability-to-repay) rule went into effect. The new rule is about helping borrowers understand the true costs of the mortgage they apply for. On the flip side, it is designed to keep lenders from lending money [...] Read more »

Foreclosures hit six-year low in 2013

Last year was a banner year in the fight against foreclosures, with filings hitting their lowest level since 2007. Total foreclosure filings for 2013, including notices of default, scheduled auctions and bank repossessions, were reported on 1.36 million properties, down 26% from 2012, according to RealtyTrac. With one in every [...] Read more »

3 Costly Cases of Hot Market Wishful Thinking

“Oh, how I wish. . .” started no wise real estate decision ever. There’s a reason they call it real estate, folks. That’s because we’re dealing with the most tangible type of property around – land – and the buildings that, formally speaking, represent improvements to that land. Attempting to [...] Read more »

Far fewer mortgage borrowers ‘deeply underwater’

A growing number of mortgage borrowers are keeping their heads above water, according to a report from RealtyTrac. The company reported Thursday that 9.3 million properties, or 19% of all homes with mortgages, were “deeply underwater” in December, meaning borrowers owed at least 25% more on their mortgage than the [...] Read more »