Raised concerns over reverse mortgages, home sales jump and plan for California’s homeowner bill of rights moves forward. Here are the real estate headlines you may have missed this week:
Homeowner Bill of Rights plans move forward (via San Francisco Chronicle)
On Wednesday, a so-called “Homeowner Bill of Rights” moved a step closer to passing, with housing advocates claiming the bill would help people stave off foreclosures. The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) opposes provisions in this measure which will allow anyone to stop the foreclosure process by filing a lawsuit, merited or not. Read Full Story
New home sales jump in May (via CNNMoney)
New home sales rose 7.6 percent in May to an annual rate of 369,000 units, according to the Census Bureau. Read Full Story
Consumer bureau report raises concerns about reverse mortgages (via Los Angeles Times)
The Consumer Financial Protection Bureau says it’s worried about the potential for abuse as some older Americans tap their home equity through reverse mortgages. Read Full Story
Mortgage servicers given new rules to aid troops (via San Francisco Chronicle)
U.S. regulators released rules for mortgage servicers that are designed to help members of the military get information needed to sell their homes or modify loans when they are forced to relocate. Read Full Story
Most still won’t pay the green to be green (via Orange County Register)
Only 10 percent of consumers responding to a survey last summer said they would pay more money to make their homes green, according to a study by Lifestory Research. Read Full Story
Home prices rise for first time in 7 months (via CNNMoney)
Average home prices increased 1.3 percent in April in 20 major markets, according to the S&P/Case-Shiller home price index. 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.
