Items Tagged with 'student debt'

ARTICLES

  • First time homebuyers fall to 4th lowest share since 1981

    Student debt amounts continue to increase
    Low inventory levels are keeping the younger generation from buying a home however, unsurprisingly, student loan debt also continues to play a major role in keeping first time homebuyers out of the housing market. What is shocking is the increase in student debt compared to other industries. But lenders, take note, first time buyers are increasingly considering lower down-payment options in order to buy a home.
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  • Lennar targets Millennials with mortgage that pays off their student loans

    Lennar subsidiary Eagle Home Mortgage offers unique lending product
    A recent study showed that mounting student loan debt is holding Millennials back from buying homes – for seven years. But one homebuilder is trying to make that seven-year delay go away. Eagle Home Mortgage, a mortgage lender and a subsidiary of Lennar, announced Tuesday that it is rolling out a new mortgage program that will help homebuyers pay off their student debt.
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  • CFPB forces companies to pay $21.6 million for illegal student loan debt collection

    Requires audit of 800,000 student loan portfolios
    Studies show student debt continues to be a major hindrance to homeownership in the U.S., however the latest action from the Consumer Financial Protection Bureau shows that debt may not even always be real. The CFPB announced Monday it forced a student loan trust and its debt collector to pay a total of $21.6 million for illegal student loan debt collection practices.
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  • NAR reveals how long student debt delays homeownership

    Debt continues to hold Millennials back in financial decisions
    An overwhelming majority of Millennials with student debt do not own a home, and believe this debt is the cause for the delay. A new study from the National Association of Realtors and nonprofit American Student Assistance showed just how long that delay is, and how much student loans are affecting first-time or even trade-up homebuyers.
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  • New York budget to target homelessness, affordable housing

    Dedicates $2.5 billion in funds
    New York announced its budget late after it surpassed its April 1 deadline. The newly released budget contains many implications for housing, including tuition-free college. A considerable part of the budget is also dedicated toward fighting homelessness and providing affordable housing.
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  • From HW Magazine

    The American Dream revisited

    Why consumers might have to choose between a college education and homeownership
    Today the average student debt resulting from a four-year degree stands at $30,000. According to a report released by American Student Assistance in 2015, 71% of non-homeowners surveyed who carry student debt say the burden of monthly payments has kept them from purchasing a home. More than half of those say their student debt loads will likely prevent home ownership for another five years.
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  • [Video] Here’s how student loans hold back homeownership

    Plus, will the FHA mortgage interest rate cut come back?
    Student debt causes many Millennials to delay homeownership as they struggle to save up for a down-payment. As it turns out, this is not the only way student debt is holding back homeownership. United Wholesale Mortgage explains why, and gives it’s take on the reversal of the FHA mortgage interest rate cut in its February video.
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  • Look out housing, Millennials are about to take over

    It’s just a matter of time, according to new First American data
    Millennials are the largest living population on this planet, and they may be better positioned than any other generation for homeownership. Why? Actually, it could be the very thing holding them back right now that drives them forward later.
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