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Foreclosures, US Real Estate

Freddie Mac warns of mortgage aid scammers

By Mike Wheatley | April 1, 2020
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 […]
Mortgage, US Real Estate

First time buyers increasingly turn to bank of mom & dad

By Mike Wheatley | January 31, 2020
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 […]
Mortgage, US Real Estate

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

By Mike Wheatley | March 1, 2019
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 […]
Mortgage, US Real Estate

More parents are helping their kids with down payments

By Mike Wheatley | April 17, 2018
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
Mortgage, US Real Estate

Tips for Parent Mortgage Lenders

By Mike Wheatley | February 3, 2012
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.
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