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As interest rates have risen, the mortgage market has cooled, despite hot home sales just a year ago. That’s led to layoffs among lenders, including Home Point Financial. The nation's third largest lender just announced 526 new layoffs come November: 150 of those will be in Texas.
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Higher mortgage rates and home prices have pushed the monthly payment to buy the median-priced home in the U.S. up more than 50% since the start of last year. Many first-time buyers can't afford it.
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State officials have rolled out a "Texas Homeowner Assistance Fund" that is designed to help homeowners who’ve fallen behind on mortgage payments and other housing costs during the pandemic.
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As the economy recovers, businesses reopen and people return to work, pandemic economic relief programs will be winding down, including mortgage forbearance programs.
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The moratorium on foreclosures of federally guaranteed mortgages had been set to expire on March 31. On his first day in office, Biden had extended the moratorium from Jan. 31. Census Bureau figures show that almost 12% of homeowners with mortgages were late on their payments.
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What would happen if the federal government pulled out of the mortgage business? That’s part of the debate as the President and members in Congress talk…
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President Obama’s mortgage relief for military service members and homeowners with Federal Housing Administration loans could affect up to three million…