The Savings Institute Bank & Trust Co., Willimantic, Conn., has announced that it will participate in the Connecticut Housing Finance Authority's Rehabilitation Loan Program.Under the program, borrowers can purchase an existing home and obtain funds to rehabilitate the property with just one mortgage. "Older communities such as Windham, Norwich, and New London have large numbers of older properties that have fallen into disrepair," said Rheo A. Brouillard, the bank's president and chief executive officer. "Often, those most in need of repair are those owned by non-occupants. ... History has repeatedly shown that owner-occupants tend to take better care of, and have more pride in, their properties."
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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.
9h ago -
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.
9h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
10h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
11h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25