• Rentals
  • Sales
  • About
  • Videos
  • Contact
  • Payments
  • Log In

Biden rolls out enhanced mortgage aid – can it curb foreclosure spike?

July 26,2021 | By Erickson Ocasio
Blog Image

New loan modifications aim to keep more borrowers in their homes The Biden administration is offering delinquent borrowers new loan modifications and payment reductions in a bid to help them stay in their homes after the foreclosure moratorium expires on July 31. The White House on Friday said that homeowners with government-backed mortgages that have been negatively impacted by the pandemic will receive enhanced assistance. The new steps aim to extend the length of their mortgages up to 40 years and lower monthly principal and interest (P&I) payments by 25% to ensure borrowers can afford to stay in their homes. The additional options come a month after the Centers for Disease Control and Prevention extended the nationwide eviction and foreclosure bans until the end of July, which CDC director Dr. Rochelle Walensky promised would be the last time they would do so. Un

Continue reading

The Housing Market Has A “False Sense Of Confidence,”

August 8,2020 | By Erickson Ocasio
Blog Image

Despite early predictions of an impending doom, the housing market has so far eschewed the dampener that the coronavirus pandemic has slammed onto other sectors of the U.S. economy. But with key federal policies lapsing without renewals, infection numbers growing and the economic downturn drawing out, real estate may soon see its fortunes reversed, says Jarred Kessler, CEO of proptech company EasyKnock. The Covid-triggered crisis has thus far unfolded in a manner opposite of what is conventional in a recession, says Kessler who spent years working on Wall Street for banks such as Morgan Stanley and Goldman Sachs before founding EasyKnock, which offers sale-leaseback options to homeowners. This peculiarity largely rests with the federal government’s early actions to prop the economy, passing the $2 trillion CARES Act in late March, just when the virus began to course through the country. ? “Usually, when you have a c

Continue reading

An indicator that presaged the housing crisis is flashing red again

July 18,2020 | By Erickson Ocasio
Blog Image

New mortgage delinquencies hit a record in April, well above anything seen during the Great Recession. Some 3.4 percent of Americans became at least 30 days delinquent on their mortgage in April, according to an analysis from CoreLogic. The real estate data firm’s figures include about three of four U.S. mortgages, going back to 1999. Mortgage delinquencies were among the first signs of the housing crisis and can signal underlying weakness in the housing market. But does the surge in delinquency mean a second housing crisis looms with a wave of foreclosures? Probably not. As with most data released during this coronavirus period, these figures come wrapped in caveats and uncertainty. For starters, the new delinquency figure includes an unknown number of households that

Continue reading