Hi ,
The latest news affecting note and real estate investors is below. Here is what happens when government uses the virus as an excuse to seize control over individual real estate investors:
A New York homeowner unable to evict a deadbeat tenant says she has been forced to live in her car for weeks. Shawna Eccles says she sleeps on the couches of friends and relatives whenever she can, and
in her car when she can’t, after fighting and failing for months to evict her tenant, thanks to New York’s eviction moratorium and recently-enacted housing regulations. “All of my money covers the mortgage, water bill and property taxes. If anything gets cut off, it will be considered an illegal eviction. I have no additional funds to rent an apartment.” -- https://www.westernjournal.com/homeowner-now-homeless-ny-covid-law/
𝐵𝒾𝓁𝓁
W. J. Mencarow
President
The Paper Source 🔸 Where The Note Industry Meets
CFPB Seeks Foreclosure Delay
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Concerned a foreclosure wave is on the horizon, the Consumer Financial Protection Bureau recently proposed a rule that would prohibit mortgage servicers from foreclosing against delinquent borrowers for the remainder of this year.
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Renters and Biden’s $15,000 homebuyer tax credit
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The housing industry has been keeping a keen eye on President Joe Biden’s proposed $15,000 homebuyer tax credit for first-time homebuyers. But just how many people would actually benefit from it?
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U.S. Home Prices Rise at Fastest Pace in 15 Years
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U.S. home prices are rising at the fastest pace in 15 years as the pandemic and a surge in urban shootings have fueled demand for single-family houses even as the supply for such homes shrinks.
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Baby Boomers Are the Richest Home Sellers
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Overall, home sellers of all age groups who sold their homes last year saw a median gain of $66,000 more than what they originally purchased for—a $6,000 increase compared to the previous year.
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Big Money Funds Invest in Single-Family Homes; Biden Plans to Build 2 Million Homes and Apartments.
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President Joe Biden has revealed a $2.25 trillion dollar infrastructure proposal to build two million homes and apartments while big money funds are quickly scooping up nearly all available single-family homes.
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