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Miami seeks new debt package to finance affordable housing: Bloomberg

Housing Wire

Mayor Daniella Levine Cava will propose a new property tax-backed debt package later this year that would raise $2.5 Additionally, the cost of homeowners insurance has dramatically increased in Florida as insurance companies have grappled with significant losses due to an increase in natural disasters. Out of the $2.5

Finance 442
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Michigan attorney general reissues reverse mortgage consumer alert

Housing Wire

As long as you retain ownership of the home and pay the property taxes, the loan will not become due.” Department of Housing and Urban Development (HUD)-approved counseling prior to closing the loan. “It can be used to make home repairs, pay for medical expenses, or to supplement retirement income.

Mortgage 407
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Mr. Cooper exits reverse servicing space with sale to MAM

Housing Wire

The development is particularly notable due to the recent activity of MAM in the realm of reverse mortgage servicing. Terms of the deal were not disclosed, but statements from Mr. Cooper company leadership detailed that the transaction will not have a significant impact on its second quarter 2021 results.

Mortgage 396
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When borrowers ‘ghost’ their servicers

Housing Wire

One reason homeowners have not responded to the company was the foreclosure moratorium that went into effect in March 2020. million homeowners became delinquent and entered forbearance between March 2020 and November 2021, the end of the fiscal year. For example, with Federal Housing Administration ( FHA ) loans, 1.5

Law 363
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The Treasury’s $10B Homeowners Assistance Fund

Housing Wire

Trouble paying for firewood, heating oil or back property taxes for your home because of Covid-19? The funds can, potentially, be used to pay debt owed the government, in the form of delinquent property taxes. The Homeowners Assistance Fund (HAF) can help with that.

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The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate

Miller Samuel

The New York state political zeitgeist was recently and suddenly tilted against luxury development in New York City. If this latest turn of events plays out as written, we'll be able to look back at this era as a milestone where the supertanker began to turn in the wrong direction for the new development multi-family industry.

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Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

Department of Housing and Urban Development ( HUD ) , that 200,000 represented close to 20% of all single-family homes supplied to the market in 2019. More Affordable than New Homes Not surprisingly, housing supplied by new homebuilders is higher priced than housing supplied by distressed property renovators.

Inventory 402