Loan costs for second homes, rentals to spike under new Fannie/Freddie rule

Loan costs for second homes, rentals to spike under new Fannie/Freddie rule

Do residential rental properties with one to four units and second-home mortgages carry more risk? Apparently so says the U.S. Treasury Department.  Such loans underwritten by Fannie Mae and Freddie Mac will end up costing you more under restrictions quietly announced...
Mortgage Firms Warned to Prepare for a ‘Tidal Wave’ of Distress

Mortgage Firms Warned to Prepare for a ‘Tidal Wave’ of Distress

There is a tidal wave of distressed homeowners who will need help,” Dave Uejio, the CFPB’s acting director, said in a statement; companies “that are unable to adequately manage loss mitigation can expect the bureau to take enforcement or supervisory action.”  At the...

Alcohol sales decline for first time since pandemic, Huge impact on real estate, the pandemic trade is over

  For the first time in a year, since Covid-19 began spreading across the United States forcing Americans to stay home, retail alcohol sales have fallen almost 2%.  Why the change in alcohol sales? No, people are not consuming less alcohol. What does this mean...
10 year treasury soars, mortgage payments could rise 33%,  How high will rates go?

10 year treasury soars, mortgage payments could rise 33%,  How high will rates go?

Before getting into the details, I can quickly answer the first question with 100% certainty.  Will Mortgage rates rise substantially in 2021? Yes they already have and will go even higher!  Why are mortgage rates rising while the federal reserve pledges to keep rates...
Biden halts foreclosures for 18 months, house prices up; no impact on “credit score”, but can’t get credit?

Biden halts foreclosures for 18 months, house prices up; no impact on “credit score”, but can’t get credit?

10 million Americans are behind on their mortgage payments, with the majority of these late payments occurring in FHA loans.  At the same time Millions are out of work, yet house prices are increasing in most markets.  What was in the new forbearance agreement?  How...