Here’s a heads-up for the growing ranks of seniors whose post-retirement monthly incomes aren’t sufficient to qualify for a mortgage under today’s tough underwriting standards: Thanks to a rule change by the largest players in the home-loan business, you may be able to use imputed income from your 401(k), IRA and other retirement assets to qualify for the loan you want.
BOSTON – As part of a settlement with H&R Block subsidiary Sand Canyon Corp., which formerly operated as Option One Mortgage Corp., Massachusetts has distributed close to $5 million to borrowers affected by the company’s alleged predatory lending practices, Attorney General Martha Coakley announced last week.
More than 2,000 Rhode Island property owners, many whose houses or businesses came through Hurricane Sandy and the 2010 floods without a scratch, are now feeling the effects of those and other devastating storms.
Rebecca “Becky” Moniz, an agent with Weichert, Realtors – Cress & Co., is the recent recipient of the Kent Washington Association of Realtors Good Neighbor Award. The award honors her efforts, and those of her strategic partners, in supporting Rhode Island’s military community. During the past several years, Moniz has served on the Rhode Island Association of Realtors Realtor Troop Support Tast Force, assisting in raising funds to bring the Military Childhood Education Coalition to Rhode Island, coordinating a partnership with the Yellow Ribbon Reintegration Program to educate deploying military-service members on home ownership and providing advice and home-buying seminars for veterans. Moniz has been with Cress & Co. since 2009 and is the former broker/owner of Young Realty Inc.
The odd hours and unexpected demands of a real estate agent mean the job is not for everyone, even those with a passion for property. For Susan Arnold, having to respond to a client call the night before her wedding convinced her to look for more predictable work and she found it in corporate purchasing with Pratt & Whitney. But after night school produced a law degree, Arnold was drawn back to real estate, first as legal counsel and eventually CEO of the Rhode Island Association of Realtors, where her combination of corporate, legal and real estate experience was a good fit. Now in her second decade with the Realtors group, Arnold is trying to help her members negotiate challenges like the government shutdown and changes to the National Flood Insurance Program. She says flood insurance in particular - with new maps and the phasing out of subsidized rates for old homes - has caused significant anxiety in the housing market.more
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