Reminder: NJ State Rental Assistance Program Waiting List Opens July 11 at 9 am
The state-funded program provides housing subsidies for low-income NJ residents. A total of 4,000 households will be selected through a lottery system to be added to the waiting list. Here’s how you can apply, if eligible.
$325 Million Emergency Rescue Mortgage Assistance Program for Struggling Homeowners
The Emergency Rescue Mortgage Assistance Program (ERMA) Uses Federal Funding to Provide Financial Assistance and Counseling for Homeowners. On Feb. 8, the State of New Jersey launched the Emergency Rescue Mortgage Assistance Program (ERMA), a federally financed program for homeowners who have been negatively impacted by the COVID-19 pandemic.
Heat Map: The Hottest Real Estate Markets in 2022
The coronavirus pandemic saw many real estate markets leap upward. Some saw home prices jump over 40% in a single year!. Pick your reason as to why. People spending more time at home are focused more on their home, and usually wish they had more space. Many homeowners took on home improvement projects. The sudden collapse and meteoric recovery of the stock market left many investors seeking firmer assets — particularly as a hedge against inflation in the face of record government spending and new currency creation.
Rocket Mortgage and Quicken Loans Parent Stock Could Get Hurt
Rocket Companies (RKT), which owns Rocket Mortgage and Quicken Loans, faces margin compression and lower earnings. The reason is home refinancing volumes and new mortgage applications are drying up.
How Much Money Do You Really Need to Buy a New Home?
Buying a new home sounds like an exciting idea, but can also be a little scary when you think about the large financial commitment you are making. Understanding the costs involved will help you to assess whether this is a dream that you can afford. Here is a summary of the major upfront and recurring costs associated with buying a home.
Mortgages and What Happens When a House Burns Down
If your house burns down, you may still be responsible for paying your mortgage payments. If you have insurance, your lender will require you to get replacement coverage for the remaining value of your loan. If you don't have insurance or if your coverage isn't enough to cover the balance of your loan, you'll still be responsible for paying off the mortgage. In some cases, your lender may work with you to modify your loan terms or may allow you to defer payments until you can rebuild. However, it's important to remember that burning down your house doesn't relieve you of your obligations under the mortgage contract. So even if your house is reduced to ashes, you may still be on the hook for the money you owe.
Home Sales Are Down 2.7% From Last Month and 4.5% YoY
The National Association of Realtors (NAR) released their March sales of existing homes stats on April 20. The bottom line is that homes sales have fallen for the second month in a row.
Moving Saves Coastal Residents Money Every Month
Are you worried about where you will live when you think about your rent or mortgage? The cost of housing has increased in most states. But demand has raised sheltering expenses in coastal cities like California and Miami more. There are plans for affordable housing units. Yet, these projects are in the early planning stages.
Some Americans Won't Qualify For A Mortgage Soon Amid Rising Rates
"As rates rise, some buyers will no longer qualify for a mortgage," per CNBC. "Lenders have been much more strict about how much debt a borrower may take on in relation to income." That means it's going to be harder for some Americans to get a mortgage as lenders may consider the loan to be too risky.
What You Need To Know Today In Morristown, NJ - 2/11
Article from Morristown Minute. The DEA in Newark & Camden, Scholarships for HS seniors, and the self-driving minibusses coming to NJ. Friendly Son’s Bring St. Patrick’s Day Parade Back On Saturday, March 12. And you’ll be drinking on the street this year.
Fintech mortgage startup enters Colorado market
(Precondo CA on Unsplash) (Denver, Colo.) A fintech startup that’s transforming the home-buying experience has doubled its mortgage footprint and now serves a quarter of the U.S. market after expanding into Colorado, Connecticut and Florida.
Morristown Lawyer Charged in Reverse Mortgage Fraud Scheme
A Morristown Lawyer and several NJ men have been cited in a conspiracy to commit bank fraud in a mortgage scheme that took victims throughout the state and Morristown. From about August 2007 to May 2010 in Morris, Essex, and surrounding counties in New Jersey, a Morristown lawyer, and several accomplices defrauded the United States government in a real estate mortgage scheme, taking thousands of dollars in government funds for themselves.