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REALTORS® of South Central Kansas News

Obstacles Hinder Aspiring Home Buyers

Tuesday, February 14 2017 9:04 AM
Categorized In REALTORS®

Affordability pressures, student debt and possible confusion about down payment requirements have kept many aspiring homeowners from reaching the market, according to NAR's Aspiring Home Buyers Profile, which analyzes data from the association's Housing Opportunities and Market Experience (HOME) survey. "Nearly all non-homeowners said they want to own a home in the future, but it's evident that higher rents and home prices—up 41 percent in the past five years—along with limited entry-level supply and repaying student debt have combined to make buying a challenging goal," says NAR Chief Economist Lawrence Yun. News release.

40,000 Could Lose Out in FHA Suspension

Wednesday, February 1 2017 2:37 PM
Categorized In REALTORS®

The Trump Administration's suspension of reduced FHA mortgage insurance premiums is the top story in the latest Voice for Real Estate news video from NAR. As many as 40,000 households could be priced out of home buying if the suspension remains in place, NAR says. Other segments look at the 10-year high in home sales in 2016, what's happening with the Ben Carson nomination for HUD secretary. and how clients can use a reverse mortgage to buy a home. Share video link

CFPB Hits Brokers For Marketing Agreements

Wednesday, February 1 2017 2:36 PM
Categorized In REALTORS®

The Consumer Financial Protection Bureau yesterday fined a mortgage lender, two real estate brokerages, and a mortgage servicing company for referral arrangements the companies had entered into that CFPB says are prohibited under the Real Estate Settlement Procedures Act (RESPA). In a statement, CFPB Director Richard Cordray says the action "sends a clear message that it is illegal to make or accept payments for mortgage referrals."  Read More