The Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA), and the Department of Housing and Urban Development (HUD) have jointly launched a new mortgage and housing assistance website to help Americans impacted by the COVID-19 pandemic navigate through this time with the latest accurate housing assistance information. Homeowners and renters can access the website at cfpb.gov/housing.
a Human Touch
The Perfect Balance
A decade after the housing crisis, a U.S. Census Bureau report shows that housing cost burden has eased for homeowners but has remained stagnant for renters since the peak of the recession. Recent data from the American Community Survey (ACS) estimates the percentage of “burdened” households that spend at least 35 percent of their monthly income on housing costs.
A new study by GOBankingRates looks at the most and least affordable U.S. metro cities to live in by evaluating government and industry data. To determine this list, researchers looked at how much money one would need to cover basic necessities, such as housing, health care, groceries, utilities and transportation.
There are plenty woman-driven moments worth celebrating this year. From opportunities to highlight initiatives to advance in Olympic sports, corporate boardroom, red carpet Oscars, and Congress, women are leaving a stalwart trace of power, closing the year 2018 strong.
In Congress, women comprise an impressive record-setting number of 108 held seats in, about 20.2 percent of the 535 members.
With 49.6 percent of total world’s population of women, we continue to be the guiding force committed to shining a light on empowering female role models in an effort to inspire more women leaders.
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California has dealt with an onslaught of fires in the past few weeks. The Mendocino Complex Fire, Carr Fire, Ferguson Fire and Holy Fire are some of the largest that have been ravaging the state from North to South. While Cal Fire firefighters still work hard to contain these fires and affected homeowners plan their next steps, it is important to know about the available resources for financial and physical damage recovery.
From the hurricanes that hit Texas, Florida and Puerto Rico, to the wildfires and mudslides that devastated parts of California, the past year has been fraught with catastrophic natural disasters which have uprooted countless Americans from their stable lives. All victims of declared natural disasters—businesses, private nonprofits, homeowners and renters—are able to apply for low-interest disaster loans from the U.S. Small Business Administration (SBA) to help them recover. Renters and homeowners do not have to own a business to apply.
The past decade has taught us a great deal about housing loss and preservation. Many of us were personally affected, or know someone affected, by the 2007-08 economic downturn period our country experienced.
There have been several lessons learned. Most of all, we learned that too many U.S residents have too much debt and lack the necessary reserves to weather the slightest bump in their financial lives.
History will argue about what went wrong and who to blame. There were lots of mistakes but there were several good lessons. One was the reminder of the value and need for nonprofit housing advocates, educators and counselors.
We learned that homeowners and homebuyers who took advantage of homeownership, credit and financial literacy counseling fared far better during the housing and economic crisis and avoided foreclosure and delinquency more than homeowners who did not. We learned that pre-purchase education, credit and budgeting courses prevented many homebuyers from buying more than they could afford and taught them to avoid the pitfalls of over leveraging their home and excessive debt.
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