Atlanta woman warning others after she says her deed was stolen and home torn down
An Atlanta woman wants to warn homeowners after she says someone stole her deed. She told Channel 2 investigative reporter Ashli Lincoln that she had no idea this had happened until her home was torn down. Linda Willis says her home in Old Fourth Ward was targeted by strangers because of the prime location of where her home once stood on Ralph McGill Blvd.
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Bad news for first-time buyers: Mortgage rates rise to pandemic-era high
For home buyers, this means that the monthly mortgage bill will be significantly higher than it was a year ago. According to an analysis from Realtor.com, at today's rates buyers can expect to pay $238 more per month on their mortgage than they would have if they had bought property at this time in 2021. That adds up to nearly $3,000 more per year, on account of the higher interest rate.
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Mortgage rates just spiked the most in 9 years-and that should slow down home price growth
Fed Chair Jerome Powell made it clear while speaking to Congress earlier this month that taming stubbornly high inflation will require the U.S. central bank to both halt its asset purchase programs and raise rates multiple times in 2022.
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Mortgage delinquency rate reaches prepandemic levels
Mortgage delinquency rates hit pre-pandemic levels in October due to labor market improvements and home equity increases, according to the most recent CoreLogic Loan Performance Report. The expectation is that rates will continue to decline during 2022. In October, 3.8% of mortgages were delinquent by at least 30 days, including foreclosure, close to the 3.7% rate registered in the same period of 2019. In October of 2020, the delinquency rate was at 6.1%.
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Millennial Demand Continues to Fuel Housing Market, According to First American Potential Home Sales Model
The strength of the housing market is not surprising given the ongoing wave of millennial demand propelled by historically low rates and greater geographic flexibility due to work-from-home arrangements," said Fleming. "Yet, home buyers face a historic and worsening housing supply shortage - you can't buy what's not for sale."
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How long does a title search take?
There is one common element to all real estate purchases. It would be best to make sure that the property you are interested in has a clear title. As obvious as this step seems, many seem to ignore it. However, always keep in mind that problems with the property titles generate most issues experienced during real estate transactions. Taking this home buying step seriously is critical.
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Feds seek to enlist real estate agents in anti-corruption push
FinCEN's proposed regulation, outlined in an "advanced notice of proposed rulemaking" published in the Federal Register, seeks to create general recordkeeping and reporting mandates - now authorized under the Bank Secrecy Act - for persons involved in all-cash real estate transactions. FinCEN is a law enforcement arm of the U.S. Treasury Department charged with safeguarding the nation's financial system against illicit activities, such as money laundering.
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Title insurance honcho pays $15M for restored waterfront Mid-Miami Beach house
A title insurance company co-founder and his wife bought a waterfront Miami Beach house that spec home developer Barry Brodsky flipped for $15.3 million.
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