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Low-income mortgage borrowers could get a $2,500 homebuyer credit through Fannie Mae or Freddie Mac. Major mortgage investors Fannie Mae and Freddie Mac are temporarily offering a $2,500 credit to very low-income homebuyers to help offset their down payment and closing costs. The Fannie Mae credit is available through the company's HomeReady program, while people can get the Freddie Mac credit through its Home Possible program. Both Fannie Mae and Freddie Mac have tools that let you see the area median income in a given location. How the $2,500 credit worksIf you qualify for this credit, you'll get the $2,500 through your lender, which Fannie Mae or Freddie Mac later reimburses the lender when your loan is sold.
Persons: Fannie Mae, Freddie Mac, , Freddie, Fannie Mae's, Freddie Mac's, it's, you'll, Fannie, Eileen Tu, Cyndi Danko, You'll Organizations: Service, Rocket Mortgage, National Council of State, Agencies
Jones' exit is the 'sensible' outcome: Australia boss
  + stars: | 2023-10-31 | by ( Ian Ransom | ) www.reuters.com   time to read: +2 min
MELBOURNE, Oct 31 (Reuters) - Eddie Jones' resignation as Wallabies coach was the "sensible outcome" in the wake of the nation's disappointing World Cup run, Rugby Australia boss Phil Waugh said on Tuesday. Jones revealed over the weekend he had agreed to terms with Rugby Australia (RA) regarding his exit, less than one year into a contract spanning the 2027 World Cup on home soil. "Eddie's put a lot into 2023 and into the (World Cup) campaign and the performances weren’t where they need to be," he continued. Waugh said that he took Jones at his word and that the reports had not been a factor in his exit. The team has the British and Irish Lions tour in 2025 and the 2027 World Cup on home soil.
Persons: Eddie Jones, Phil Waugh, Jones, Waugh, Eddie's, we’re, I've, Ian Ransom, Gerry Doyle Organizations: MELBOURNE, Wallabies, Rugby Australia, Nine Network, British, Irish Lions, Thomson Locations: Sydney, Australia, England, France, Japan, Melbourne
Fannie Mae reported that the single-family serious delinquency rate is down 0.54% in July. Housing expert Bill McBride pointed to the data as reason not to expect widespread home price declines. AdvertisementAdvertisement"Freddie's serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic," McBride wrote. Single Family Serious Delinquency Rates Calculated RiskThe decline in serious delinquencies point to low rates of foreclosures, which in turn suggest stable prices. The dynamic was on display in 2008, when a wave of bank foreclosures dragged the US housing market down, with prices plummeting as much as 20% in parts of the country.
Persons: Fannie Mae, Bill McBride, Freddie Mac, McBride Organizations: Service Locations: Wall, Silicon
Bringing in $420K a year as a recent U.S. citizen
  + stars: | 2023-07-13 | by ( Zachary Green | Megan Sauer | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBringing in $420K a year as a recent U.S. citizenEddie Nuñez left Lima, Peru at 14 years old for the United States. He made it to Virginia, but 7 years later he was arrested by border patrol and placed in detention. Eddie eventually represented himself before an immigration judge and won asylum. Today, he's a U.S. citizen with a wife and two children. He and his wife earn $420,000 a year from Eddie's work as an IT specialist, their snowplow business, seven rental properties, and his wife's at-home daycare business.
Persons: Eddie Nuñez, Eddie Locations: Lima, Peru, United States, Virginia, he's
As soon as he heard his dad's voice, Eddie, a 19-year-old TikToker, knew something was up. But with AI, the voice on the other end of the phone can now sound eerily like the real deal. Plus, more people are making their real voice available to scammers: McAfee said 53% of adults shared their voice data online weekly. McAfee also found that over one-third of victims lost more than $1,000 in AI scams, with 7% losing more than $5,000. Then, the scammer can just type out whatever they want, and the AI voice will speak what is typed in real time.
Persons: Eddie Cumberbatch, Eddie, , Eddie's, Eddie didn't, tricksters, scammers, McAfee, aren't, Richard Mendelstein, Stella, panicking, it's, Steve Grobman, Grobman, they've, Neil Gorsuch, Kamala Harris, Ally Armeson, cybercrime, Armeson, Eve Upton, Clark Organizations: Federal Trade Commission, People, FTC, McAfee, Google, Washington Post, Supreme, Cybercrime Support Locations: Chicago, Mexico City, Canadian
Fannie Mae and Freddie Mac help make mortgages available by purchasing them from lenders. The limit will top $1 million for the first time in 2023, reflecting a new norm in US housing. Fannie and Freddie are the largest buyers of US home mortgages and are credited with providing constant liquidity in the housing market through their purchases, even during downturns. Their scope in residential markets is capped by the so-called conforming loan limit, which per a 2008 law is set in accordance to changes in home prices. Outside the priciest areas of the country — which include areas around New York, Washington, DC, and coastal California — the conforming loan limit will also rise by 12.2%, to $726,200.
Data from Freddie Mac shows an increasing share of people are relocating to areas more prone to natural disasters. This is especially the case in Florida, a pandemic housing hotspot that has experienced severe flooding and storms. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Flordians are the most at risk to natural disastersIndeed, certain US housing markets — particularly cities in Florida — are more vulnerable to natural disasters than others. The organization anticipates that by April 2027, Florida's population will average 294,756 net new residents per year, averaging 808 each day.
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