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“Costco ends mortgage program membership perk” Costco is no longer offering a mortgage program for its members. According to the wholesale retailer, the changes took effect on Sunday, May 1. “Members with questions regarding their current mortgage application and loan should contact the lender they have been working with,” the company wrote, adding a list of lenders and phone numbers. …
“Thanks to Biden, you can’t heat (or buy, or rent) a home” Bidenomics has hit another ugly milestone. In 2021, for the first time ever (per Census data analyzed by Zillow), the annual dollar growth in the value of a typical home was bigger than the inflation-adjusted median pre-tax income of a full-time American worker. …
“Mortgage rates soar past 4% for first time in three years” Mortgage rates have risen above 4% for the first time since May 2019. The 30-year fixed-rate home loan averaged 4.16% in the week ending on Thursday, up from 3.85% the previous week, according to Freddie Mac. A year ago, the long-term rate was 3.05%….
“Better.com workers learned of layoffs when severance checks were sent early” Better.com acknowledged mishandling another round of mass layoffs on Tuesday after some employees received their severance checks ahead of schedule – a mishap that occurred weeks after its top boss drew criticism for firing 900 employees during a Zoom call. The embattled online mortgage…
“#Better.com CEO to take leave of absence after Zoom layoff disaster” Better.com Chief Executive Officer Vishal Garg is taking time off effective immediately, Vice reported on Friday, citing an email from the digital mortgage company’s board. Garg apologized earlier this week for his manner of handling layoffs at the mortgage company after a video of him…
“#Long Island man who dodged mortgage for 20 years gets yet another delay” A Long Island man who hasn’t paid his mortgage in more than two decades got another delay in his legal proceedings — after a witness set to testify against him came down with COVID-19. Guramrit Hanspal, 52, made one mortgage payment in…
“#10 percent of American families at risk of foreclosure, eviction during pandemic” Millions of Americans are facing a housing crisis. More than 11 million families are behind on rent and mortgage payments due to financial hardships stemming from the pandemic, a new report from the Consumer Financial Protection Bureau revealed. Evictions and foreclosures are looming, the CFPB urged in its report,…
“#Benchmark 30-year mortgage rate drops to record low 2.66%” US long-term mortgage rates dropped this week to a record low for the 16th time in 2020, reflecting an economy hard hit by the coronavirus pandemic. Mortgage giant Freddie Mac said Thursday that the average rate on the benchmark 30-year fixed-rate home loan slipped to a…