Three members of a California family who ran a foreclosure company will spend more than 45 years in jail, collectively, after each was found guilty of participating in a $20 million mortgage fraud scheme that preyed on financially distressed homeowners. According to the Department of Justice, Dorothy Matsuba, her husband, Thomas Matsuba, and her daughter, Jamie Matsuba, each received a sentence of more than 10 years in jail for taking part in the nearly decade-long scheme.
More young families chose to rent instead of buy in the 10-year span from 2006-2016, according to a study by RENTCafé. Likely influenced by rising home prices, tough lending rules and a lack of entry-level homes, the number of families with minor children that owned a home decreased by 3.6 million.
WalletHub, a personal finance website, assessed factors like housing affordability, tax rates and crime rates to determine the most favorable housing markets for first-time homebuyers. As more Millennials become potential homebuyers, some of these markets might best suit their housing needs and some of them they may want to avoid.
According to research from Zillow affiliate Hot Pads, it will take the average U.S. renter more than six years to save up for a 20% down payment on a home. With rent now taking up an average of 34% of a renter\'s income and home prices on the rise, the dream of homeownership is becoming more and more distant for U.S. renters.
New York City is in the middle of an affordability crisis, and now, the city is proposing sweeping new rules to address one piece of the affordability crunch that often stands in the way of renters finding a quality apartment or moving to a new one – the security deposit. Over the weekend, the city released a new proposal that would put limits on how much landlords can charge renters upfront.
This week, more than 20 of the top housing trade groups urged Congress to extend the National Flood Insurance Program. In a letter sent to Congressional leadership on both sides of the aisle, the organizations warn Congress that failure to reauthorize the program by July 31 will jeopardize an estimated total of 40,000 American homes.
In an effort to end youth homelessness, HUD announced it is awarding $43 million to 11 local communities. These communities include five rural areas, and the funds will be dispersed through HUD’s Youth Homelessness Demonstration Program. Here’s where the funds will be awarded, and what each community will do with its share.
There’s been a distinct uptick over the past year in the number of Americans who say now is a bad time to buy a home, and a sizable number point to high home prices as the primary reason. But caution might be a good thing, according to one think tank, as it could serve as a necessary weight tempering housing demand.
The multifamily real estate market in Texas is hot right now. But which city shines the brightest of all? It\'s probably not the one you think. Want to know which one tops the charts? Click through and find out.
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