News

2021

April

16
  • Biden’s first-time homebuyer tax credit proposal. Consumers have been closely following President Joe Biden’s proposed first-time homebuyer tax credit, but the newest form of that proposal has several significant restrictions. The latest draft of a down-payment assistance bill would
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  • Biden is bringing back Obama-era housing rules. Housing Secretary Marcia L. Fudge moved this week to reinstate fair housing regulations that had been gutted under President Donald Trump, in one of the most tangible steps that the Biden administration has taken
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  • In infrastructure package, child care help is delayed. Many parents have been eagerly anticipating President Biden’s infrastructure bill, a landmark piece of legislation expected to include sweeping benefits for caregivers and fundamentally reshape the U.S. child-care system. But the Biden
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  • New proposal would ban most foreclosures until 2022. The Consumer Financial Protection Bureau proposed a new rule that would prevent servicers from starting foreclosure proceedings until after Dec. 31. The intent, bureau officials said, is to give borrowers coming off forbearance time to consider
05
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  • Housing madness: 76 all-cash offers on one home. A realtor listed a fixer-upper in suburban Washington, DC for $275,000 on a Thursday. By Sunday evening, she had 88 offers. Of those 88 offers, 76 were all-cash, said Coleman, who works for RE/MAX Realty Centre. The inventory
  • Turning away from nursing homes, to what?. The occupancy rate in nursing homes in the fourth quarter of 2020 was 75 percent, down 11 percentage points from the first quarter, according to the National Investment Center for Seniors Housing & Care, a research group. A

March

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  • What happens when payment deferrals end?. Payment deferrals have been a lifeline for millions during Covid. But what happens when they end? Consumer advocates warning of a looming debt crisis say they want the government's watchdog to take an aggressive
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  • Illinois caps rates at 36%, adopts state-level CRA. The anti-predatory-lending law with a 36% rate cap, which takes effect immediately, applies across all consumer loan categories. Auto title loans in Illinois currently have an average annual percentage rate of 179%, and payday loans have an
  • Settlement with Liberty Bank in lawsuit alleging racial bias. Under the agreement, Liberty Bank will expand its Good Neighbor Mortgage Loan Program, making an additional $10 million available to borrowers at below-market mortgage rates. In addition, it will set aside $300,000 in subsidies to promote home
 

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