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CFPB proposes rule to bolster PACE loan borrower protections

Housing Wire

The Consumer Financial Protection Bureau (CFPB) announced on Monday a proposed rule that seeks to bolster consumer protections for borrowers seeking Property Assessed Clean Energy ( PACE ) financing for home renovations. We are proposing new rules that would require sensible safeguards on these clean energy loans.”

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Credit union trade group backs proposed CFPB rules on PACE loans

Housing Wire

The Credit Union National Association (CUNA) late last week released two comment letters expressing the association’s agreement with proposed rules on bolstering borrower protections for Property Assessed Clean Energy ( PACE ) financing for home renovations.

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Fix and flip market struggles as financing costs rise

Housing Wire

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. A year ago, we were offering to lend 85% loan-to-cost or 90% loan-to-cost, and that’s down to like 75% loan-to-cost.

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Taking the leap: The benefits of buying vs. renting a home

Housing Wire

“Like investing in the stock market, setting aside emergency savings and saving for retirement, homeownership is another vehicle that may offer the potential to build wealth,” says Citi Home Lending Officer John Gnisci. Homeowners may also be eligible for tax deductions which renters may be unable to utilize.

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Should You Buy a Home or Keep Renting? How To Decide in 7 Steps

Realtor

Hammond , a Chase private-client home lending adviser. When considering the overall cost of homeownership, the price of insurance and property taxes will vary based on community and location,” Ross says. Keep in mind that property taxes vary widely by state and city. How important is the freedom to renovate?

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How reverse mortgages could improve financial stability for older homeowners

Housing Wire

HW: How does Reverse Mortgage Funding help lending professionals educate themselves and their clients on the benefits of reverse mortgages in our current housing market? Not tax advice. Consult a tax professional. † CW : At Reverse Mortgage Funding , education has always been a number-one priority.

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When — And Why — Are You Required to Have Commercial Real Estate Appraised?

Appraisal Hub

An appraisal offers them a clear picture, helping them gauge the safe lending amount against the property’s true value. Legal and Tax Matters: Sometimes, the journey encounters legal twists and turns.