Lusk

The Business Journal: California Legislators Approve Program to Help You Buy a House with Down Payment, 'Shared Equity'

Submitted by hoyt on Fri, 07/29/2022 - 10:37

By Edward Smith

Aralyn Tucker outside of her condo in Natomas on June 11, 2022. Photo by Julie Hotz for CalMatters

First-time buyers often rely on family gifts to afford the down payments on their homes. Now California Legislators want the government to fill the role of generous relative.

The Business Journal: California Legislators Approve Program to Help You Buy a House with Down Payment, 'Shared Equity'

Submitted by hoyt on Fri, 07/29/2022 - 10:36

By Edward Smith

Aralyn Tucker outside of her condo in Natomas on June 11, 2022. Photo by Julie Hotz for CalMatters

First-time buyers often rely on family gifts to afford the down payments on their homes. Now California Legislators want the government to fill the role of generous relative.

Marketplace: HAMP is falling short of expectations

Submitted by hoyt on Fri, 07/15/2022 - 16:10

By Mitchell Hartman 

Kai Ryssdal: There’s a report out today from the Congressional Oversight Panel for the TARP, the bank bailout. It says the Obama Administration’s mortgage modification program, with the handy acronym of HAMP, is falling short. The White House had hoped to keep 3 to 4 million families from being foreclosed upon — now it’s looking more like 700,000 at best.

Los Angeles Times: Mortgages are complex. We break down the basics

Submitted by hoyt on Wed, 04/06/2022 - 09:42

By Andrew Khouri

If you’re like the vast majority of Southern Californians, you’ll have to take out a mortgage to buy a home. It will almost certainly be the largest sum you’ve ever borrowed, an order of magnitude more than your last car loan or your most extravagant credit card purchase.

Mortgages aren’t just bigger loans. They also involve more complicated choices than other forms of credit, forcing you to make bets on what the economy and your finances will look like years into the future.