The latest news about notes and real estate is below. This week it's heavy on real estate, but remember that this has a direct bearing on what notes are worth so we all need to be aware of trends in real estate.
If you own junior liens, you need to know that the Federal Housing Finance Agency has extended its foreclosure and eviction moratoriums for borrowers with Fannie Mae or Freddie Mac-backed mortgages until at least January 31st. The moratorium prevents junior lien
holders from foreclosing if the first lien is insured by Fannie or Freddie.
Cheers, 𝐵𝒾𝓁𝓁
W. J. Mencarow
President, The Paper Source, Inc.
Note &
Real Estate News
FHFA Extends Foreclosure, REO Eviction Moratorium to Jan. 31, 2021
The Federal Housing Finance Agency has extended its foreclosure and real estate owned eviction moratoriums for borrowers with Fannie Mae or Freddie Mac-backed mortgages until at least Jan. 31, 2021. The protections were put in place due to the COVID-19 pandemic.
Realtor.com: What To Expect in 2021’s Housing Market
Realtor.com’s 2021 housing forecast predicts record-high prices will continue rising in 2021, delivering a blow to first-time buyers and those on a budget. Mortgage interest rates, which hit historic lows this year and helped fuel the go-go growth in U.S. housing markets, are also expected to tick up again, making monthly housing payments ever more expensive.
Home prices typically decline when economic activity constricts—but not in 2020. The economic downturn resulting from the COVID-19 pandemic has coincided with a booming housing market.
