Research shows that a little over a million homeowners who are at least 30 days past due on their mortgage payments haven’t entered into a mortgage forbearance program or engaged with their lender about some other form of assistance. The research came from Black Knight, a mortgage data company, the Wall Street Journal reported. The
Freddie Mac warns of mortgage aid scammers
April 1, 2020 by
Scammers are reportedly targeting homeowners with fake offers of financial aid at a time when many are struggling to pay their mortgages due to the coronavirus outbreak. In one example, Freddie Mac last week warned of a new scam that saw borrowers receive fake calls impersonating the mortgage giant, offering low interest rates and other
First time buyers increasingly turn to bank of mom & dad
January 31, 2020 by
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
The “Bank of Mom & Dad” is the 7th biggest mortgage lender in the U.S., study finds
March 1, 2019 by
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
More parents are helping their kids with down payments
April 17, 2018 by
Millennials are increasingly expecting their parents for greater help when it comes to housing. A report from Apartment List that surveyed 13,000 people born between 1981
Tips for Parent Mortgage Lenders
February 3, 2012 by
Many young professionals have found themselves being constantly frustrated in their efforts to get on the property ladder and buy their first home. As a result, we’re seeing more cases of parents stepping in to help them out.
