First time buyers increasingly turn to bank of mom & dad

A third of first time buyers have been forced to ask their families or friends for financial assistance in order to buy a home, the National Association of Realtors has revealed. Some 27% of first time buyers surveyed said they’re received a cash gift from family or friends, NAR data shows. Jessica Lautz, vice president

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The “Bank of Mom & Dad” is the 7th biggest mortgage lender in the U.S., study finds

Young adults are increasingly relying on financial help from their parents in order to buy their first homes. In fact, the extent of this financial assistance is so great, that if parents were considered a financial institution, they would be the seventh largest mortgage lender in the U.S. The surprising finding was announced in a

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