Today’s News Synopsis:
Your lender might let you miss a few payments. Ask these 3 questions. It’s important to know the difference between a mortgage deferment and mortgage forbearance. Speaking of forbearance, the number of loans in forbearance increased drastically according to the MBA. ATTOM Data Solutions gives us the areas that will be most impacted by the Coronavirus.
In The News:
ATTOM Data Solutions – “U.S. Housing Markets Vulnerable to Coronavirus Impact Clustered in Northwest and Florida” (4-7-2020)
“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released a Special Report spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact of the Coronavirus pandemic.”
RISMedia – “Redfin Lays Off 7 Percent of Staff, Furloughs 41 Percent of Its Real Estate Agents” (4-7-2020)
“Seattle-based real estate giant Redfin announced Tuesday that it’s laying off 7 percent of its staff and furloughing hundreds of its agents due to decreased housing demand amid the coronavirus pandemic.”
Realtor.com – “Mortgage Deferment and Mortgage Forbearance—Is There a Difference?” (4-7-2020)
“With finances in peril due to COVID-19, many homeowners are in search of mortgage relief. Two strategies that many borrowers are anxious to invoke right now are mortgage deferment and mortgage forbearance.”
Mortgage Bankers Association – “MBA Survey Shows Spike in Loans in Forbearance, Servicer Call Volume” (4-7-2020)
“New survey findings released from the Mortgage Bankers Association (MBA) highlight the unprecedented, widespread mortgage forbearance already requested by borrowers affected by the spread of the coronavirus (COVID-19).”
The Real Deal – “As forbearance wave hits, real estate industry begs Fed to take action” (4-7-2020)
“The commercial real estate industry is asking the federal government to buy bonds, assets, or lend money to mortgage banks as forbearance requests pile up.”
Inman – “How to be the expert your clients need right now” (4-7-2020)
“With a sea of agents conducting business online, how can you stand out from the crowd? Rise above fear, build community and be the leader your clients need. Here’s how.”
Realtor Magazine – “Take Care of Your Financial Wellness” (4-7-2020)
“When the world around you feels like it’s spinning out of control, it’s important to control what you can. And that includes your financial plan.”
“Homeowners whose finances have been battered by coronavirus might want to think again before postponing their mortgage payments.”
ALERT: Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With Inland Gateway Association of Realtors on Thursday, April 9 (ONLINE ONLY).
ALERT: Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Pasadena FIBI on Thursday, April 16 (ONLINE ONLY).
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.
Almost 5 million could save money on their mortgages. How did people in the real estate industry celebrate April Fools’ Day? A new bill was passed by the House Committee on this day that was supposed to bring an end to homelessness.
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