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New lending rules for 2014

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Underwriting is getting back to basics with the “ability-to-repay” rule, adopted last month by the Consumer Financial Protection Bureau and effective January 2014, reports The New York Times. The new rule is being established for the purpose of protecting borrowers … Continue reading Continue reading
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Cash gifts and the downpayment

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Many families who purchase homes receive help from their close relatives. In fact, the National Association of Realtors found that 25 percent of buyers who were surveyed relied on cash gifts from family members to close on their properties from July … Continue reading Continue reading
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2013 Real Estate Trends

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The number of first-time homebuyers in the 25 to 34-year-old age range could increase this year. According to CNN Money, the jobless rate among Millennials fell from 9.2 percent one year ago to 7.9 percent in November 2012, a positive … Continue reading Continue reading
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Home prices expected to go up in 2013

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Home prices have gone up by more than 4 percent in 2012, and many professional forecasters anticipate that we will continue to see gains around 3.1 percent in the upcoming year. The December 2012 Zillow Home Price Expectations Survey found … Continue reading Continue reading
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