Is it time to buy? Troubled homeowners offered to rent, closing costs easing and much more. Here are the real estate headlines you may have missed this week:
Finally, it is time to buy a house (via The Wall Street Journal)
Buying real estate is a good long-term investment for many reasons, some of which have only become apparent in recent weeks. Read Full Story
Mortgage closing costs fell 7 percent for home buyers (via CNNMoney)
The average cost of closing on a mortgage has fallen by 7.4 percent over the past year, according to a recent survey by Bankrate.com. Read Full Story
Simplifying loan documents (via The New York Times)
The Consumer Financial Protection Bureau says mortgage documents should be written in simple, straightforward language, and so it is proposing that lenders provide borrowers with two new forms. One will come at the start of the lending process, the other just before closing. Read Full Story
Mortgage lenders may be easing their standards, but not for everyone (via The Washington Post)
With home prices rising in many markets around the country, might mortgage lenders start loosening up on their hyper-strict underwriting rules and extend loans to buyers who now find themselves on the sidelines? Read Full Story
Citigroup tries converting troubled homeowners to renters (via Los Angeles Times)
Citigroup Inc. is testing a program that would allow distressed homeowners to sign over title to their property and stay on as renters paying less than they did on their mortgages. Read Full Story
Mortgage applications up, mortgages not so much (via CNNMoney)
This summer, Americans’ interest in taking out a mortgage has skyrocketed, rising to its highest level in at least three years, according to a quarterly survey of lenders released by the Federal Reserve this week. Read Full Story
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About Daniel Di Matteo
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
