Lake County is due $1.6m from $317m in federal foreclosure relief that will be going to mortgage-challenged Floridians struggling with unemployment, underemployment or medical hardships. The Florida Housing Finance Corp. will distribute the money to counties based on local home-value declines, unemployment rates and totals of seriously delinquent mortgages.
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Quicken Loans has become the largest mortgage lender in the country over the last few years due in large part to the growth of Rocket Mortgage, the company’s digital mortgage platform. As it turns out, Rocket Mortgage is becoming so big that it’s now consuming other parts of the Quicken Loans family of companies too, namely the company’s reverse mortgage lender.
U.S. home prices increased 5.1% in the fourth quarter from a year ago, matching the pace of the prior quarter, according to the Federal Housing Finance Agency.