First-time homebuyers are the vital first rung on the home ownership ladder. They are usually buying from a seller who is “trading up” to a more expensive home or building a new one. When potential new buyers sit on the sidelines, existing homeowners are stuck, unable to move out and up.
More first-time homebuyers crucial for recovery
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In its war on ‘junk fees,’ CFPB targets mortgage servicing
CFPB Director Rohit Chopra detailed the agency’s efforts to crack down on prohibited fees, deceptive notices to homeowners and violations of loss-mitigation rules
