Bill To Give 0% Down Home Loan to COVID Essential Workers is Pushed Forward By Florida Republicans The HELPER Act is a proposed bill that would give 0% down home loans to firefighters, paramedics, nurses, and other essential COVID workers. Republican Representative John Rutherford brought the bill to the House of Representatives earlier this year.…

Fannie Mae Offers Relief To Homeowners Facing Financial Difficulties Due To Natural Disaster As hurricanes and wildfires ravish the nation, homeowners who hold government backed mortgages are being offered assistance. In addition to mortgage payment forbearance programs and funds to help pay missed payments, the program also offers several other types of disaster assistance. Fannie…

The Federal Reserve Is In The Spotlight All eyes are on the Federal Reserve as they make important policy decisions and face the re-appointment of the chair and vice chair. The mortgage industry is most concerned with when bond buying will be tapered, which is expected to begin this fall. However, previous projections about inflation…

Artificial Intelligence Is Being Blamed For Racial Discrimination In Mortgage Lending A recently published study shows that black mortgage applicants are 8o% more likely to be rejected for mortgage financing than their comparable white peers. Mortgage lenders continue to claim that they are fair and balanced in their lending decisions. One of their primary defenses…

Lending Requirements Remain Tight In Hot Housing Market The hardest part of buying a home at the moment is finding one that is available and that you can afford. However, getting the mortgage is harder than usual as well. Lenders are maintaining very tight financial requirements for borrowers, and entry level mortgages for affordable starter…

Federal Reserve Turnover Could Affect Mortgage Rates Two key leadership positions in the Federal Reserve are up for re-appointment this fall. The Biden administration is considering changing up the leadership to appoint officials who are more concerned with climate change, banking regulation, and income inequality. There is pressure from Progressive democrats to take this opportunity…

The VA Has A Little Known Program To Help Veterans Keep Their Homes The federal mortgage forbearance program being offered through all of the governmental housing agencies is open for enrollment through September 30th, 2021. However, the VA has a second, separate plan available to veterans. This plan is known as the VA Partial Claim…

Renting Your Home May Be An Alternative To Foreclosure Rental rates have risen drastically over the past year. Monthly rental payments are currently higher than average mortgage payments in the majority of US metro areas. For homeowners facing the end of forbearance program grace periods, renting out their home may be the best option…