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NJ Allocates $10M in Funding for Foreclosure Prevention Program
New Jersey Gov. Phil Murphy announced Wednesday that the state is allocating $10 million in funding to prevent foreclosures. The funding from the American Rescue Plan Act of 2021 (ARPA) will go to support New Jersey’s Foreclosure Prevention Act program administered by the New Jersey Housing and Mortgage Finance Agency (NJHMFA). The Murphy administration will use the funds to purchase…
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Cash Offers Are Upending the Housing Market Amid Low Supply
Banks are swooping in with cash to buy homes as regular people wait for a mortgage approval. That’s leading to a spike in home prices after COVID reduced supplies for building materials, Karan Kaul of the Urban Institute explains.
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Some Reap Benefits of a ‘White Hot' Housing Market, but Others Need Help
While the post-pandemic demand for houses along with a low supply created a price spike, not everyone is reaping the benefits. Millions of homeowners entered forbearance and many renters are struggling to pay rent as eviction protections begin to expire this summer. It’s a “race” to get more relief measures passed, says Chris Herbert of the Harvard Joint Center for...
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What You Need to Know About Interest Rates and Your Mortgage
Interest rates take the elevator up, and the stairs down. CNBC’s Bertha Coombs explains how changes in the interest affect saving money for a down payment and when you should get a mortgage for a home.
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High Court Takes on Fannie, Freddie Presidential Power Case
The Supreme Court wrestled Wednesday with a case that could make it easier for the president to fire the head of the agency that oversees government-controlled mortgage giants Fannie Mae and Freddie Mac
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Mortgage Help
Karen Matthews was worried about paying her bills after being furloughed from her job, but found out she could get some mortgage help. Lynda Baquero reports.
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NYC Officials Support Proposed State Legislation That Would Suspend Rent Payments
A piece of proposed legislation in the New York Senate that aims to cancel rent for residents and businesses hurt by the COVID-19 crisis has received the vocal support of New York City officials. Senate Bill S8125A, authored by Sen. Mike Gianaris (D-Queens), stipulates that “any residential tenant or small business commercial tenant in the state that has lost income...
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NYC Pizzeria Delivers Free Pizza to Hospitals, So Landlord Offers Free Rent
As many as 400 pizzas are being delivery for free to hospitals all over New York City, and as far north as Westchester, by Sauce Pizzeria. The eatery’s landlord saw what they were doing on social media so the landlord decided to give back, with three months rent and a $20,000 donation. NBC New York’s Ida Siegal reports.