Annamaria Andriotis reported in today’s Wall Street Journal that, “The bill is coming due for many homeowners on a type of loan that was widely popular in the run-up to the housing bust, causing a rise in delinquencies at banks. “More homeowners are missing payments on their home-equity lines of credit, or Helocs, a type… Continue Reading
Category Archives: Real Estate Law
Home Equity Lines of Credit- Resets Causing a Rise in Delinquencies at Banks
Condos Slow to Bounce Back, Developers Point to Increased Exposure to Construction-Defects Lawsuits
Chris Kirkham reported in yesterday’s Wall Street Journal that, “Condos have been the slowest to bounce back of any segment of the U.S. housing market. Over the past five years, construction of apartments has nearly tripled, while that of for-sale multifamily units has increased only about 53%. “The slow comeback stems partly from developers’ increasing confidence… Continue Reading
Homeownership Rate, Lowest Since 1965
Jeffrey Sparshott reported on Friday at The Wall Street Journal Online that, “The U.S. homeownership rate fell to the lowest level in more than 50 years in the second quarter of 2016, a reflection of the lingering effects of the housing bust, financial hurdles to buying and shifting demographics across the country. “But the bigger… Continue Reading
Some Homebuilders Itemizing and Passing On Regulatory Construction Costs to Buyers
Chris Kirkham reported in Saturday’s Wall Street Journal that, “As the cost of construction permitting has risen over the past decade, Atlanta home builder Dennis McConnell has taken a new approach with customers. “He now itemizes the regulatory costs so buyers can see firsthand why the price tags for his houses are so high. Among… Continue Reading
Home-Equity Lines of Credit Being Marketed as Broader Mortgage Market Lags
AnnaMaria Andriotis reported in yesterday’s Wall Street Journal that, “At hardware stores along the U.S. East Coast in recent weeks, TD Bank has been trying to persuade shoppers to think bigger than paint and plumbing supplies: The bank wants them to start taking cash out of their homes again. “The TD Bank tour bus, equipped… Continue Reading
Lower Down Payment Options Without the Expense of Mortgage Insurance
New York Times writer Tara Siegel Bernard reported last week that, “It was a year of firsts: In 2015, Kristian and Michele Klein welcomed their first child, a daughter, and bought their first home — a freshly renovated four-bedroom Cape Cod in Glen Head, N.Y. “But instead of making a traditional down payment of 20… Continue Reading
California Supreme Court Rules on Wrongful Foreclosures
Los Angeles Times writer Andrew Khouri reported this week that, “During the bust that followed last decade’s housing boom, hundreds of thousands of Californians lost their homes to foreclosure. It was a process later found to be rife with problems, such as overwhelmed bank employees who sometimes didn’t even read the foreclosure documents in front… Continue Reading