Where are the Most Overleveraged Mortgage Debtors?

first_imgHome / Featured / Where are the Most Overleveraged Mortgage Debtors? in Featured, News Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago About Author: Xhevrije West The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Homebuyers often bite off more than they can chew when purchasing a home which can place them into mortgage debt due because they can no longer afford the home. See which cities host the most overleveraged borrowers.A study from WalletHub found that although purchasing a home typically equates financial growth or building wealth, sometimes borrowers overestimate their ability to pay the loan back.”Not only are property values at the mercy of the national economy and local housing markets, but our financial circumstances can also take an unexpectedly downward turn at any moment, the report stated. “And without a financial safety net, we risk biting off more than we can chew as well as reshaping our long-term goals into short-term realities.”Although mortgage rate are nearing three-year lows , which should mean lower, more affordable payments  and larger loan amounts, “such an attractive combo is bound to tempt the most impulsive of us into owning a home—and perhaps one we can’t realistically afford—much sooner than we can or should,” WalletHub said.WalletHub’s analysts determined which cities are home to the most overleveraged mortgage debtors by comparing the average mortgage balances against the median income and median home value in each of 2,521 cities.The city with the most overleveraged homeowners is Hamtramck, Michigan with a score of 59.4 out of 100. Here, the average mortgage debt is $120,286, the median home value is $39,800,  and the median income is $18,845. In addition, the average debt-to-income ratio is 638 percent and the debt-to-house ratio is 302 percent.”Before diving in to the deep end of real estate, it’s advisable to polish credit reports and maximize credit scores to qualify for the best possible rates,” WalletHub explained. “It also helps to leverage a Mortgage Calculator to gauge the size of payments finances will allow and the timeline for paying off [a] mortgages, whether borrowing for the first time or refinancing an existing loan. Otherwise, [they] risk overleveraging [them]selves, as is the case for homeowners in many cities throughout the U.S.”WalletHub’s Most Overleveraged CitiesHamtramck, MichiganSan Luis Obispo, CaliforniaBeverly Hills, CaliforniaBrooksville, FloridaMcKees Rocks, PennsylvaniaBay Point, CaliforniaNew York, New YorkSanta Barbara, CaliforniaKailua, HawaiiGreenwich, ConnecticutClick here to view the full report. Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Trump Hints at Fed Chair Yellen’s Future Next: DS News Webcast: Thursday 4/21/2016 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img April 21, 2016 2,782 Views Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Homebuyers Mortgage Debtors Mortgage Rates 2016-04-21 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Tagged with: Homebuyers Mortgage Debtors Mortgage Rates Where are the Most Overleveraged Mortgage Debtors? Subscribelast_img read more

The Industry Pulse: Updates on Continuity, CoreLogic and More

first_img About Author: Seth Welborn Demand Propels Home Prices Upward 2 days ago From acquisitions and technology to new partnerships, get the latest industry buzz in this update. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Continuity, a provider of regulatory technology and compliance management systems (CMS) for financial services organizations, has acquired Ohio-based TraceRisk, a provider of cloud-based enterprise risk management (ERM) solutions.  With technical integration efforts now underway, Continuity becomes the first provider to connect the strategic aspects of enterprise risk management to the tactical oversight of compliance management on a singular, unified platform.“As the complexity of managing risk and compliance continues to escalate, Continuity’s product suite continues to expand to meet the challenges faced by financial institutions,” stated Michael Nicastro, Continuity’s CEO.  Nicastro continued, “Continuity paved the way as a first-mover in the world of automating compliance management, and we intend to build upon that innovation in ways that further enhance the capabilities of risk and compliance officers to confidently execute their roles.  As we grow and refine our product set, both organically and through acquisition, we will continue to incorporate technology solutions like TraceRisk to make integrated risk and compliance management achievable and cost-effective for institutions of all sizes.”__________________________________________________________________________CoreLogic, a global property information, analytics, and data-enabled solutions provider, announced the availability of its updated RCT Express reconstruction estimating and risk assessment solution that now includes the ability to provide valuations for large tract homes (LTH). This update gives insurers the ability to better assess and price LTH policies, bringing more powerful coverage adequacy tools to the insurance industry.“The rising popularity of large tract homes has created new challenges for insurers, who have historically struggled to distinguish these structures from high value homes that have more custom attributes,” said Benjamin Abbott, Product Manager for CoreLogic Insurance Solutions group. “Because of the size of these LTHs, many LTH homeowners policies have valuations more suitable for a custom home.”“With our latest RCT Express release, CoreLogic is making it possible for insurers to bring new levels of accuracy to their clients’ home property insurance policies, helping insurers continue to build trust and confidence with policyholders.” Abbott added.RCT Express is a reconstruction estimating and risk assessment solution that offers an unprecedented view of structure risk to support the underwriting workflow in helping insurance carriers extend the right coverage and better protect policyholders.__________________________________________________________________________RES.NET and Xactware have announced an integration between RES.NET and the Xactware RepairWise and XactPRM platforms. The combined solution, tailored for repair and renovation servicers and investors, supports every phase of the renovation process and allows servicers to analyze a wide variety of upgrade scenarios for each property before committing to a course of action.A large class of buyers are currently demanding an upgraded, aesthetically pleasing, turnkey property. These types of extensive renovations have even become a favorite with investors, with GSEs such as Fannie Mae finding value in the completion of large-scale renovations. By moving a property into a higher condition classification and attracting an expanded pool of buyers, servicers are reducing days on the market and the associated costs.“Critical milestones have to be accounted for throughout a repair or renovation project,” said Dave Obert, VP of Xactware PropTech Solutions. “The integration between these two solutions will organize, simplify and modernize that process.”While renovations have proven effective, they are also highly dependent on local factors such as the cost of labor and materials, communication with vendors across the country, and the accurate appraisal of comps, which can vary greatly even within a single city. The integration between Xactware and RES.NET provides a streamlined solution for this phenomenon—from value assessment, cost estimation and bid management, through scope approval, project tracking and performance analysis. The Repair Module now represents 460 regions across the United States and Canada. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News, Technology Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Industry Pulse: Updates on Continuity, CoreLogic and More Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Industry Pulse: Updates on Continuity, CoreLogic and More Share Save Related Articles October 3, 2019 1,677 Views Tagged with: Continuity CoreLogic Technology The Best Markets For Residential Property Investors 2 days ago Continuity CoreLogic Technology 2019-10-03 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Previous: Technology, Compliance Company Acquires Risk Management Platform Next: Helping Homeowners Through Foreclosure Reform The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

Metros Most Vulnerable to COVID-19’s Fallout

first_imgSign up for DS News Daily Related Articles Metros Most Vulnerable to COVID-19’s Fallout Data Provider Black Knight to Acquire Top of Mind 2 days ago April 22, 2021 1,015 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post 2021-04-22 Christina Hughes Babb The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Metros Most Vulnerable to COVID-19’s Fallout Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe About Author: Christina Hughes Babb Share Save Servicers Navigate the Post-Pandemic World 2 days ago States along the East Coast, Connecticut through Florida, as well as Illinois, are more vulnerable to the effects of the Coronavirus pandemic and its continuing impact on the U.S. economy, according to a Q1 2021 Special Coronavirus Report published by ATTOM Data Solutions, while Western States seem better prepared to withstand a downturn.Markets were considered at greater or lesser risk based on the percentage of homes facing possible foreclosure, the portion with underwater mortgages, and the percentage of average local wages required to pay for major homeownership expenses. (More about ATTOM’s methodology is available at ATTOM.com.The researchers showed 33 of the 50 counties most vulnerable to the economic impact of the pandemic in the first quarter of 2021 were in Florida, Illinois, New Jersey, Connecticut, and North Carolina. The only three western counties in the top 50 during the first quarter of 2021 were in northern California, while Louisiana was the only southern state outside of the East Coast with more than two counties in that group.According to ATTOM, first-quarter trends generally build on those found in 2020, but with smaller concentrations around several major metropolitan areas.”Clearly, the housing market continues to surge, and things are looking up, more and more, for the U.S. economy in 2021, after a year of major setbacks in many sectors. But the pandemic still looms large and may pose a threat to the progress made so far, and by extension could affect home sales and prices,” said Todd Teta, chief product officer with ATTOM Data Solutions. “Our analysis suggests that even as the market remains hot, pockets of the East Coast, Midwest and South are at higher risk from potential damage connected to the pandemic. We will stay on top of this as the crucial months ahead should reveal whether the country can leave this crisis behind.”Although foreclosure actions have dipped 80% since this quarter last year, amid a federal and many regional foreclosure moratoria, more than one in 2,500 residential properties faced a foreclosure action in the first quarter of 2021 in 36 of the 50 most at-risk counties, according to the research analysts at ATTOM.The study’s findings, which can be accessed in full at ATTOM.com, according to the authors, “follow one of the housing market’s strongest years in the past decade, when the median single-family home price rose more than 10% across much of the nation,” ATTOM reported. “They also come at a time of increased financial optimism, with retail sales up in 2021, new unemployment claims down and a second round of federal government stimulus money coursing through the economy. But the pandemic remains a threat to the economy as new virus variants emerge, and additional clusters of new cases crop up in various parts of the country.” Previous: Growth Found in SFR Market Next: Mr. Cooper and Google Partner on New AI Initiative Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Foreclosure, Market Studies, Newslast_img read more

Union of Students in Ireland to hold protest outside Department of Education today

first_img RELATED ARTICLESMORE FROM AUTHOR Google+ Calls for maternity restrictions to be lifted at LUH Facebook Previous article2.7 magnitude earthquake recorded off coast of DonegalNext articleAgrilculture Minister to delay regulations for farmers sharing commonage News Highland Help sought in search for missing 27 year old in Letterkenny News WhatsApp Guidelines for reopening of hospitality sector published Three factors driving Donegal housing market – Robinson Union of Students in Ireland to hold protest outside Department of Education today Pinterestcenter_img Twitter Twitter Pinterest It’s speculated the Education Minister may propose the introduction of a State-backed student loan scheme – or a graduate tax, when he outlines his vision for Higher Education reform later this morning.Ruairi Quinn will meet with the Heads of the country’s Universities and Institutes of Technology at the Department of Education.Recent figures show the average cost for just one year in college is 10-thousand-500 euro – and with delays in grant payments, St Vincent De Paul Society says some students have begun knocking on its doors for food parcels.The Union of Students in Ireland will hold a demonstration outside the Department of Education this morning, to coincide with the Minister’s meeting.USI President is Letterkenny man John Logue:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/11/08logu1.mp3[/podcast] 448 new cases of Covid 19 reported today By News Highland – November 22, 2012 NPHET ‘positive’ on easing restrictions – Donnelly WhatsApp Google+ Facebooklast_img read more

470 children killed or injured on Donegals roads between 1997 and 2009

first_img Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly Pinterest Twitter Google+ WhatsApp 470 children killed or injured on Donegals roads between 1997 and 2009 Facebook News Previous articleCalls for third Derry bridge linking Newbuildings and Letterkenny RoadNext articleFootpath will not be completed in time for Finn Valley college opening News Highland By News Highland – August 16, 2011 Google+center_img Pinterest Twitter Three factors driving Donegal housing market – Robinson 448 new cases of Covid 19 reported today WhatsApp 470 children were killed or injured on Donegals roads between 1997 and 2009, a new study reveals.The RSA released the figures yesterday, as part of its research into child fatalities and injuries on the nations roads.The research also showed that 56% of all child casualties in Ireland between 1997 and 2009 were pedestrians and cyclists.Eamon Browne, of the Donegal Road Safety Working Group, said although the figures are worrying, a lot is being done to address them….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/08/ebro1pm.mp3[/podcast] Facebook RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH Help sought in search for missing 27 year old in Letterkenny last_img read more

Proposals for reform for EU Common Fisheries Policy next week

first_img WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ Guidelines for reopening of hospitality sector published Proposals for reform for EU Common Fisheries Policy next week Pinterest RELATED ARTICLESMORE FROM AUTHOR Almost 10,000 appointments cancelled in Saolta Hospital Group this week By News Highland – July 8, 2011 Need for issues with Mica redress scheme to be addressed raised in Seanad also Pinterest Newscenter_img Twitter Calls for maternity restrictions to be lifted at LUH Twitter Google+ Facebook WhatsApp Previous articleMc Hugh tells Dail Letterkenny should be a Regional HospitalNext articleLetterkennys IDA office to close News Highland It’s been confirmed that proposals for the reform of the EU’s Common Fisheries Policy will be published next week.Fisheries Maria Damanaki will launch her proposals next week after several months of consultation, which saw a substantial input from the North West region.North West MEP Pat The Cope Gallagher has argued throughout the process that there should be more regionalisation within the system, with more decisions being taken at a local level.He’s also hopeful that the Commissioner will ease some restrictions, particularly those pertaining to inshore fisheries and Islands……[podcast]http://www.highlandradio.com/wp-content/uploads/2011/07/1cope830.mp3[/podcast] Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Facebooklast_img read more

Harkin calls for a national legal framework to govern windfarm developments

first_img Google+ RELATED ARTICLESMORE FROM AUTHOR Marian Harkin MEPNorth West MEP Marian Harkin is calling for tighter national regulations to govern the development of windfarms.Ms Harkin says a national discussion is needed, along with an independent assessment of the balance of individual, community and national interests in the matter of wind farms before any planning applications are considered for large scale wind farm developments.Ms Harkin says communities and even families are being divided by the issue, and a major problem is that in the absense of national regulations, the ground rules change from county to county……….[podcast]http://www.highlandradio.com/wp-content/uploads/2013/09/harkinwindfarms.mp3[/podcast] Dail hears questions over design, funding and operation of Mica redress scheme Google+ Dail to vote later on extending emergency Covid powers Pinterest WhatsApp Facebook WhatsApp Facebook By News Highland – September 26, 2013 center_img Pinterest Twitter HSE warns of ‘widespread cancellations’ of appointments next week News Man arrested in Derry on suspicion of drugs and criminal property offences released PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Harkin calls for a national legal framework to govern windfarm developments Twitter Previous articleStormont Finance Committee discussing possible solution to Coleraine DVA jobs threatNext articleArchaeological dig extended on Derry’s Bishop Street News Highland Man arrested on suspicion of drugs and criminal property offences in Derrylast_img read more

Council claims to be winning the war on illegal dumping

first_imgFines issued 2012 Gardai continue to investigate Kilmacrennan fire Google+ Facebook Letterkenny2632 Google+ 2011 Expenditure Council claims to be winning the war on illegal dumping Inishowen€28,364.75€30,690.10 Pinterest Man arrested on suspicion of drugs and criminal property offences in Derry Donegal3520 Twitter Inishowen4419 Donegal County Council says it continues to prioritise the fight against illegal dumping releasing new figures showing the level of enforcement.In a statement today, the council says it  is making progress throughout the county in the fight against those who continue to dump waste illegally.Given the remote nature of some of the sites used for illegal dumping, Donegal County Council has invested in various surveillance equipment in recent years for use throughout the county.The investment includes a number of ‘trail’ cameras or covert cameras activated by infra red sensors, together with Road-Hawk Vehicle Digital Cameras.Others include high spec long range cameras which are acquired for surveillance on illegal activities involving waste management issues and these have proven to be very useful.Enforcement ActivityIn 2012 Donegal County Council issued 173 fines or fixed penalty notices under the Litter Pollution Act 1997, up from 124 fines in 2011. The increase in the number of fines issued in 2012 is due partly to the increased level of resources invested by the Council in particular areas of the county.A breakdown of litter fines (fixed penalty notices under the Litter Pollution Act 1997) issued in 2011 and 2012 are outlined in the following table: News AreaFines issued 2011 Stranorlar1337 By News Highland – April 16, 2013 €428,822.16€410,948.37 Donegal€13,660.65€5,473.35center_img 75 positive cases of Covid confirmed in North Further drop in people receiving PUP in Donegal Area Glenties6 (part time only)65 Mobile Litter Unit costs€297,521.45€300,870.73 Twitter Costs of Clean ups:In 2012 Donegal County Council spent in the region of €410,900 in cleaning up illegal dumping sites in Donegal and this was down from the 2011 figure of €428,800.The following is the breakdown of expenditure incurred by Donegal County Council in clean-up operations in 2011 and 2012 WhatsApp WhatsApp Pinterest Letterkenny€8,755.29€16,436.37 Facebook 2012 Expenditure Previous articleTaoiseach says Boston blasts were ‘act of insanity’Next articleVEC chief asks Dept of Education to extend recognition of Buncrana school News Highland Glenties€60,700.51€38,533.16 Main Evening News, Sport and Obituaries Tuesday May 25th Stranorlar€19,819.51€18,944.66 RELATED ARTICLESMORE FROM AUTHOR 365 additional cases of Covid-19 in Republic last_img read more

Ostan Na Rosann staff to receive wages tomorrow

first_img Previous articlePSNI appeal for information after creeper burglaryNext articleCouncil passes SF motion calling for end to student grant cuts News Highland Ostan Na Rosann staff to receive wages tomorrow Google+ Pinterest Workers at The Ostan Na Rosann Hotel Dungloe says they hope wages which they say are owed to them will be paid tomorrow.It was confirmed today that the hotel is to close for the winter season due to what management describe as ‘the current climate’Management say the hotel will re-Open in the spring apologising for any problems the temporary closure will cause for customers.Sixteen staff claim they are owed over €10,000 in wages – one of those, Paddy O’Donnell, says they have been told they will be paid tomorrow:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/12/padr1pmwages.mp3[/podcast] Pinterest WhatsApp WhatsApp Further drop in people receiving PUP in Donegal Facebook Twitter 365 additional cases of Covid-19 in Republic center_img Twitter By News Highland – December 4, 2012 Facebook Gardai continue to investigate Kilmacrennan fire Man arrested on suspicion of drugs and criminal property offences in Derry News Main Evening News, Sport and Obituaries Tuesday May 25th Google+ 75 positive cases of Covid confirmed in North RELATED ARTICLESMORE FROM AUTHORlast_img read more

Students Union President warns against student loan proposal

first_img RELATED ARTICLESMORE FROM AUTHOR The Student Union President at the LYIT is warning that the loan scheme option in Cassells report will keep the poorest people poor.The report has suggested three possible solutions to tackle the third level education funding crisis in Ireland.LYIT SU President Dylan McGowan says the scheme will mean an increase in tuition fees and will consequently lead to significant debt for students.He believes publically funded free education is possible and should be considered by Government…….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/07/dylanloans.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Further drop in people receiving PUP in Donegal Pinterest Google+ By admin – July 19, 2016 Facebook WhatsApp WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derry Twitter Facebookcenter_img Pinterest Homepage BannerNews Previous articleNiall O’Donnell on Donegal’s character to win Ulster Minor titleNext articleFuneral arrangements confirmed for toddler killed in Derry tragedy admin 75 positive cases of Covid confirmed in North Google+ Twitter 365 additional cases of Covid-19 in Republic Students Union President warns against student loan proposal Main Evening News, Sport and Obituaries Tuesday May 25th Gardai continue to investigate Kilmacrennan firelast_img read more