FHA Financing for condos, help to refinance, a return to peak for home prices, California’s Homeowner Bill of Rights and much more. Here are the real estate headlines you may have missed this week:
FHA eases burdensome condo financing rules (via Los Angeles Times)
The biggest source of funding for low-down-payment condo mortgages, the Federal Housing Administration, has revamped controversial rules that caused thousands of building across the country to lose their eligibility for FHA financing. Read Full Story
Help for the underemployed (via The New York Times)
One of the best ways for homeowners to cut costs is to refinance their mortgage, but qualifying for a new loan that would lower monthly payments can be difficult for those who are underemployed. Read Full Story
Home prices may not return to peak until 2023 (via CNN Money)
Fiserv forecasts prices will bounce back an average of 3.7% a year for the next five years — a rate that would still leave prices 20% below the peak. At that forecasted growth rate, the national average high of $238,000 would not be hit again until 2023. Read Full Story
Consumer confidence up in September (via The Los Angeles Times)
The Conference Board’s Consumer Confidence Index was up nine points in September to 70.3 after declining in August. Read Full Story
Home prices rebound (via CNN Money)
According to the closely watched S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, the typical home price in July rose 1.6% compared to the previous month. Read Full Story
Final parts of California Homeowner Bill of Rights signed into law (via CNNMoney)
Gov. Jerry Brown, D-Calif., signed the final parts of the California Homeowner Bill of Rights into law this week. Brown signed senate bill 1474, giving the California attorney general’s office the ability to use a statewide grand jury to investigate and indict the perpetrators of financial crimes involving victims in multiple counties. Read Full Story
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