Rural Community Assistance Corp., West Sacramento, Calif., says a growing number of working Californians are being priced out of the ranks of homeownership.RCAC said the housing boom of 2005 "drastically improved" the net worth of many homeowners, but also pushed "a record number of working Californians into the already huge group that can't afford to buy a home." RCAC recently released a top-10 list of Workers in California Who Can't Afford a Home, which included police officers, firefighters, teachers, nurses, construction workers, and truck drivers. William French, RCAC's chief executive officer, said it was no surprise that many people are unable to afford a home. "What was startling, however, was the increased number of hard-working Californians -- with what are considered good-paying jobs -- who cannot currently qualify to own a home in this state," Mr. French said. The organization can be found online at http://www.rcac.org.
-
Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
19m ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
43m ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
51m ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
3h ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25