Mortgage Industry News
“Bank of Mom and Dad” Increasingly Turning to Reverse Mortgages for Downpayment Gifts
Source: Storeys --- The “Bank of Mom and Dad” — older homeowners who dip into their own wealth to help their Millennial-aged kids rustle up a home downpayment — has long been a presence in Canada’s housing market. In fact, according to the Toronto Regional Real Estate...
85% of Homeowners with Mortgages Have a Rate Far Below Today’s Level, a Factor Prompting Many to Stay Put
Source: Business Wire --- Roughly six of every seven (85%) U.S. homeowners with mortgages have a mortgage interest rate far below today’s level of 6%, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. With rates now at...
Dogecoin ($DOGE) Can Now Be Used for Buying Ownership Shares in Second Homes
Source: Crypto Globe --- Recently, San Francisco-based startup Pacaso announced that it is now possible to pay with crypto — including Dogecoin ($DOGE) — for shares in single-family homes in some of the top second home destinations in the U.S. As...
What are the Updates on Tenancy law for Family-only Residential Buildings in the UAE?
Source: Lexology --- Pursuant to Law Number 2 of 2007 on Regulations of Landlord-Tenant Relationship in Sharjah and its amendments, low-income bachelors or labourers are not allowed to live in certain residential neighbourhoods which have been specially demarcated for...
Why brokerages and mortgage lenders are rushing into JVs
Source: Housing Wire --- The excited and at times nervous first-time homebuyers that James Dunn often represents ask him how that whole process of taking out a mortgage works, and Dunn, a Los Angeles-based real estate agent with eXp, replies with a few trusted names....
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