Real Estate

Ariel Skelley | The Image Bank | Getty Images With age comes increased frugality. As people reach retirement age, it’s been common practice to get rid of what you don’t need, including personal items, extra expenses and oversized, hard-to-manage properties. For years, the average American retiree has charted a predictable course through retirement, choosing smaller,
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Heavy competition in today’s pricey housing market has sidelined some first-time buyers, especially in major metropolitan areas. These buyers usually make up about 40% of the market, but now it’s less than a third, according to the National Association of Realtors. The majority are millennials, aged 25-34. There is still hope for homeownership, however. While
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Mortgage rates moved higher again last week, causing homeowners and potential homebuyers to pull back on borrowing. Overall mortgage application volume decreased 5.1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) increased to 3.36%
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Billionaire Rick Caruso’s eponymous real estate company is jumping into the world of cryptocurrency, announcing Wednesday it will begin accepting bitcoin as rent payment at its residential and retail properties. The privately held firm said it also has invested a portion of its corporate treasury in bitcoin and entered into a partnership with Gemini, the
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Andrew Harrer | Bloomberg | Getty Images The Consumer Financial Protection Bureau is warning mortgage servicers that they’re expected to help the surge of struggling homeowners in the pandemic and explore options other than foreclosure. “Responsible servicers should be preparing now,” CFPB Acting Director Dave Uejio said in a statement. “There is no time to
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Millions of Americans took advantage of the payment suspension and mortgage forbearance programs both lenders and the federal government rolled out due to the Covid-19 pandemic last year. But as these emergency programs start to wind down this year, the Consumer Financial Protection Bureau wants to put safeguards in place to ensure millions of families
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fstop123 | Getty Images The Consumer Financial Protection Bureau proposed a rule Monday to prevent a wave of foreclosures this fall, when certain Covid-era protections for homeowners are set to expire. The proposal, which would need final approval, generally prohibits mortgage servicers from initiating foreclosure proceedings against delinquent borrowers until after Dec. 31, 2021. The
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