Mortgage Industry News
Home ownership and the “American Dream” are crushed by Real Estate Investment Trusts
Source: Tennessee Lookout--- A big economic division between renters and homeowners is apparent when looking at net worth: For homeowners, the median net worth of $231,400 is about 44 times the median net worth of renters, which is $5,200. Dr. Ken Chilton of Tennessee...
Why the housing market is in recession in terms of sales — but not prices
Source: Deseret News --- July was an even more sluggish month for the U.S. housing market as sales of previously owned homes slipped by 6% from June and a whopping 20.2% year over year. Home prices are still high, though, with the median existing home sales price up...
What is Landlord Insurance, and How Does it Work?
Source: Point 2 Homes --- What is Landlord Insurance? Landlord insurance is a policy that is specifically designed to protect owners of rental properties. There are different levels of coverage, but for the most part, the policy is aimed at non-owner-occupied...
Combating Wire Fraud In The Mortgage Industry
Source: Forbes --- As real estate transactions have moved online, so have scammers who hope to intercept money that's meant for down payments and funding loans. According to the FBI's 2020 Internet Crime Report, nearly 14,000 people fell victim to real estate/rental...
Buying vs. Renting — How the 5% Rule Can Help You Decide
Source: Point 2 Homes--- The 5% rule was coined by Canadian investment portfolio manager Ben Felix. It stems from the general consensus among potential homebuyers that if you can afford to make mortgage payments that are equal or less than what you’re paying in rent,...
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