House prices are soaring, creating homeownership barriers for low- and middle-income Americans. new legislation dubbed the "First Time Homebuyer Act" was recently introduced to combat the affordability crisis. The bill aims to incentivize first time homebuyers, particularly those in marginalized … [Read more...] about New legislation might extend relief to new homebuyers
It doesn't take a real estate expert to understand that the housing market has enjoyed an unprecedented period of growth. Low inventory and high demand for homes have resulted in record-high asking prices and record-breaking offers. For many, the state of the housing market is eerily reminiscent of … [Read more...] about Why the housing market won’t crash anytime soon
Today, the Consumer Financial Protection Bureau announced a proposed rulemaking that would prohibit servicers from commencing foreclosure actions until after December 31, 2021. Under the current rules, a borrower must be 120 days delinquent before a loan servicer can start the foreclosure … [Read more...] about CFPB Proposes Foreclosure Ban through ’22
In our last post we discussed the difference between ownership and title. Next we examine the relationship between the two: how we determine who owns a property by examining title to a property. Though the title company handling settlement will always advise who owns the subject property, it is … [Read more...] about Who Owns the Property and Why?
Many equate "title" with "ownership" of property. There is a subtle distinction: ownership represents the bundle of property rights one acquires when purchasing property. Title is the evidence of a person's right to assert or enjoy those property rights. It is only the ability to dispose of … [Read more...] about The Subtle Distinction between Title and Ownership
Most lenders will require a borrower to purchase a homeowners insurance policy to protect their home. A buyer may wonder, then, why it is prudent to purchase a home warranty in addition. What is covered under the home warranty that is not covered under homeowners insurance? Homeowners insurance … [Read more...] about Should I buy a home warranty when I have homeowners insurance?