In the first quarter of 2024, 38% of a typical household’s income was needed to make a mortgage payment on a median-priced, new single-family home in the U.S. That’s according to the Cost of Housing Index (CHI) unveiled Thursday by the National Association of Home Builders (NAHB) and Wells Fargo. Fo

A reverse mortgage has potential utility for a homeowner in the right situation, but loan terms must be observed closely to remain in good standing and avoid the possibility of foreclosure. This is according to a look at the reverse mortgage product category published by Newsweek.As part of its rece

After nearly a year of searching, iBuyer Offerpad has a new chief financial officer. The firm announced Thursday that it has pegged Peter Knag for the role, effective June 5.“I am excited to join at such a dynamic time for the company,” Knag said in a statement. “I look forward to working with the t

The New York Department of Financial Services (NYDFS) announced on Thursday the publication of a policy recommendation that encourages property insurers to offer free loss-mitigation options for policyholders that would ultimately reduce premium costs.NYDFS Superintendent Adrienne Harris cited the a