Remove 2022 Remove Insurance Remove Investors Remove Property Taxes
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Opinion: Improving housing affordability without exposing homebuyers to more risk

Housing Wire

For example, recently, Fannie Mae has focused on expanding alternatives to title insurance as a way to supposedly increase homeownership affordability. However, Fannie Mae’s own research from 2022 found that title insurance is not a significant component of the overall closing costs when buying a home.

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Opinion: Title and settlement fees aren’t a barrier to homeownership

Housing Wire

The borrower’s largest life-of-loan costs are the property taxes and recording fees paid at closing plus the accumulated cost of annual property taxes paid over the life of the loan. In fact, neither is true. So, what’s peace of mind worth?

Insurance 418
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Is time the enemy of equity for chronically distressed homeowners?

Housing Wire

Conversely, slowing home price appreciation can help accelerate the rate of lost equity as it did in 2022, when distressed homeowners lost an average of $1,453 a month. That’s because the unpaid loan balance continues to grow for delinquent mortgages due to unpaid interest, property taxes and insurance.

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Mortgage rates inch closer to 7%

Housing Wire

In addition, the spread between the 10-year Treasury and the 30-year fixed rate mortgage is poised to widen as uneasy investors might keep the risk premium elevated. For buyers of a median-priced home, the monthly mortgage payment—assuming a 20% down payment—amounts to about $2,300, not including property taxes and insurance,“ said Ratiu.

Mortgage 351
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How to price homes properly in a volatile housing market

Housing Wire

We’re just trying to move inventory quickly,” said Lee Kearney, a Tampa, Florida-based real estate investor who has an inventory of between 15 and 20 homes for sale at any given time. “If Opendoor lost an average of $6,000 on Q4 2022 flips, down from an average gain of nearly $16,000 per property for homes flipped in Q4 2021.

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The share of owner-occupants buying foreclosures has doubled — here’s why

Housing Wire

Fifteen percent of distressed property buyers described themselves as owner-occupants, according to a March 2023 survey of nearly 450 buyers using the Auction.com platform. That was nearly double the 8% of buyers who described themselves as owner-occupants in a February 2022 Auction.com buyer survey. “My

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What Metaverse real estate means for mortgage professionals

Housing Wire

To boot, one of the first financing transactions on record was made in January 2022 by technology firm TerraZero. Section F: While there is no need for homeowners insurance, “mortgage” insurance and prepaid interest may still make sense in this scenario. As for property taxes, well, you can kiss that goodbye.