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Lenders face a family matter: maternity leave
Should being pregnant and taking maternity leave ever constitute reasons to be turned down for a home mortgage or having your loan closing postponed?
You might think not, but two new legal actions by federal fair-lending regulators suggest that the mortgage industry — and even federally run financing giants Fannie Mae and Freddie Mac — may need to address the issue.
Fewer homeowners are underwater on mortgages
The number of homeowners underwater on their mortgages in the United States declined slightly during the first three months of the year.
The decline in the number of borrowers owing more on their mortgages than those properties are worth occurred despite falling home prices, which plunge borrowers underwater.
Living in a slide zone
Heavy rain in the hilly Puget Sound region often means landslides.
Sometimes they are merely inconvenient, such as the April 12 slide that blocked Highway 4 near Longview or March slides that blocked the railroad tracks between Seattle and Everett. Sometimes they are a tragedy, such as the Perkins Lane slide in the Magnolia neighborhood about 14 years ago that sent several houses tumbling toward the beach.
Home sellers step up as last-resort lender to poor-credit buyers
…Financing provided by home sellers, popular in the 1980s when mortgage rates reached 18 percent, is making a comeback in markets such as Michigan that have been hit hard by foreclosures and where tightening lending standards and years of economic distress have drained the pool of creditworthy buyers.
Service members grapple with depressed housing market
…Depressed property values have become a national crisis for homeowners who purchased their houses before the collapse of the housing market. But for members of the military who must comply with relocation orders or face disciplinary action, waiting out the housing crash is often not an option.
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