Biden’s executive action to extend eviction moratorium is a ‘Band-Aid’ on the rental crisis
President Joe Biden is expected to request an extension of the federal eviction moratorium through March as part of a flurry of executive actions after taking office on Wednesday. While the effort would offer short-term relief for millions of struggling renters, it falls short of providing enough aid until the coronavirus pandemic is brought under control, according to experts.
Foreclosures, Evictions & Utility Cutoffs: The Fair Housing Impact of COVID-19 on Black Communities
The consequences of the pandemic are expected to underscore the structural inequalities in the United States, as the most vulnerable members of our society are likely to bear the brunt of the economic pain.
With Democrats In Control, How Far Will Biden Get With His Housing Plan?
Housing shortcomings in the U.S. are plentiful and diverse, from a Covid-driven renter eviction crisis to over-restrictive zoning laws that artificially drive up land values and make it nearly impossible for entry-level buyers to afford a home.
4 Reasons Why Foreclosures Will Explode In January 2021
COVID-19 took the world by storm. It is far more than a global health crisis. The pandemic produced financial, legal, and employment challenges on a massive scale. We expect these struggles to continue well beyond 2020.
Judge’s ruling lets state and Seattle eviction moratoriums stand while lawsuit proceeds
A federal judge has rejected an attempt by Seattle landlords to suspend a temporary ban on evictions during the coronavirus pandemic. The ruling means the city and state bans can stay in place while the legal fight plays out.
The Most Splendid Housing Bubbles in America: December Update on House Price Inflation Gone Wild
The dollar lost purchasing power with regards to houses at the fastest rate in six years.
Will Foreclosures Boom in 2021?
Given the number of Americans who have struggled financially during the coronavirus pandemic, you'd think foreclosure numbers would be booming. But actually, according to new research on household debt by The Ascent, foreclosure rates are down this year. While there were around 50,000 foreclosures in November 2019, there were just 10,000 in September 2020. But things could change in a very unfavorable way come 2021.
Protest stems from foreclosure of neighborhood's few remaining Black-owned residences
A gentrification protest in Portland that has blockaded several city blocks entered its third day Thursday as demonstrators dressed in black and wearing ski masks shored up their makeshift barriers aimed at keeping police out.
Eviction And Foreclosure Moratorium On Federally-Backed Mortgages Extended Through January 2021
The Federal Housing Finance Authority (FHFA) and Department of Housing and Urban Development (HUD) announced on Dec. 2 it will extend its foreclosure and eviction moratorium through Jan. 2021—the moratorium was originally slated to expire at the end of December. This means that if you have a federally backed mortgage, you can’t be foreclosed on or evicted for not paying.
FHFA Extends Foreclosure and Eviction Bans Through January 31, 2021
The Federal Housing Finance Agency (FHFA) has extended the eviction moratorium for properties acquired by Fannie Mae and Freddie Mac through foreclosure or deed-in-lieu of foreclosure transactions through January 31, 2021.
Mortgage forbearances tick higher as homeowners reactivate payment deferral plans
The number of mortgages in forbearance ticked higher at the end of October, according to one tracker, partly driven by homeowners reactivating expired plans.
New York’s 2021 housing crisis
Shortly before the Trump administration expires at noon on Jan. 20 — about 60 days from now — New York will face a storm of evictions, bankruptcies and foreclosures as the current housing crunch explodes into a full-blown disaster. A new report by the Community Service Society is warning that current and future political leaders must address the approaching crisis without delay.
'Bumpy Waters Ahead': New Mortgage Data Suggests Wave of Foreclosures Is Coming
If you're a home flipper or landlord on the hunt for a new investment, then keep your eyes on early next year. Two reports released this week signal an incoming wave of foreclosures -- likely hitting in the first half of 2021, once homeowners have exhausted their mortgage forbearance options allowed under the CARES Act. Those relief options allow borrowers to hit pause on their loans for a total of 360 days (two separate 180-day terms) that started in March 2020.
How Will COVID-19 Effect Mortgage Delinquencies In 2021
The COVID-19 pandemic has led to moratoriums on evictions and foreclosures. However, these moratoriums won’t last forever and many might be facing hardship in the months ahead.
Economist Predicts Foreclosure Wave Will Crash Down in 2021
A leading economist is warning that this year’s booming housing market will soon give way to a rising tide of foreclosures that will submerge many homeowners in the coming year.
Wave of Foreclosures May Follow Housing Market Boom
The housing market is booming. Is this another indication that the recovery from the Pandemic Recession is complete for the rich, while low-income households are left behind? No, it isn’t.
The Serious Disconnect Between A Hot Residential Real Estate Market And The Coming Tsunami Of Foreclosures
Various reports show that the market for previously-owned homes climbed nearly 10% in September, the fourth straight monthly increase. It is not just sale volumes that are high, but the price of homes is showing double-digit gains. If you just look at volume and prices, the U.S. residential real estate market looks as rosy as every, spurred on by very low interest rates from the same Federal Reserve which once-upon-a-time was tasked with preventing bubbles above all else but during the last three decades has arguably been the chief cause of them. That's the sunny side of the street. The shady side of the street is much different.
Bank programs seek to widen the path to Black homeownership
When Delmar Freeman began shopping for a home last year, he knew the biggest hurdle would be cobbling together enough money for a down payment.
Americans behind on rent and mortgage payments are less likely to vote: study
Over 17 million Americans were behind on rent or mortgage payments at the end of September, according to the U.S. Census Bureau — and delinquencies could translate into lower voter turnout, according to a new study.
Why the coming foreclosure crisis will look nothing like the last one
The coronavirus recession is all but certain to cause a spike in foreclosures.