Loan advertisements – Inzerce Pujcek http://inzercepujcek.net/ Wed, 29 Jun 2022 12:01:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://inzercepujcek.net/wp-content/uploads/2021/06/icon-87-150x150.png Loan advertisements – Inzerce Pujcek http://inzercepujcek.net/ 32 32 How buying a first home has changed since your parents did it https://inzercepujcek.net/how-buying-a-first-home-has-changed-since-your-parents-did-it/ Wed, 29 Jun 2022 12:01:44 +0000 https://inzercepujcek.net/how-buying-a-first-home-has-changed-since-your-parents-did-it/ Allison Lemly bought her first home in 2020, a townhouse in Perkasie, Bucks County. The house covered most of his wish list: at least three bedrooms, more than one bathroom, a working kitchen and a basement. Although the timing was tricky during the pandemic and strong seller’s market, Allison had done her homework and was […]]]>

Allison Lemly bought her first home in 2020, a townhouse in Perkasie, Bucks County. The house covered most of his wish list: at least three bedrooms, more than one bathroom, a working kitchen and a basement.

Although the timing was tricky during the pandemic and strong seller’s market, Allison had done her homework and was ready to act quickly.

“I was saving money until I could afford to buy a house on my own and started looking at it in late 2019,” Allison, 29, a financial adviser at Ameriprise Financial, told Warrington. “Then COVID hit and I took a break. I was on a lunch break one day and went to Realtor.com, and this house came up on the market and had everything I was looking for.

But she had to act fast. Sellers were offering a Zoom tour the next day. She sent the link to her fiancé and his father, and with their blessing, she took the virtual tour.

“They were only offering three in-person house viewings, so I called the realtor immediately after the Zoom tour and said I’d like to come for a viewing,” recalls Allison, who offered asking price of $285,000 and got the house.

Allison’s experience was very different from that of her parents, who had bought their first home in 1988. They had been scouring the real estate sections of the newspapers for about two months when a client of her father’s lawn business mentioned he was selling his house, and it turned out to be the perfect fit.

The Mayfair twin had three bedrooms, a new kitchen and central air conditioning. It cost $90,000, which was the upper limit of his father’s budget. He estimates that his monthly mortgage payments were about 25% of his monthly income.

“I’ve always been a big saver so now that I was getting married it was the natural progression to buying a house,” said Gerry Lemly, 60, of Churchville, private wealth adviser at Ameriprise. “We wanted to live in Mayfair because that was where our family and friends lived. And the house had been completely redone. We just had to paint. »

The home buying experience has seen many changes over the past generation. Technology has made the process easier, but many first-time home buyers struggle to save enough money for a down payment, compete with other buyers in a hot seller’s market, and qualify for loans. .

In 2020, first-time buyers made up 33% of all home buyers, according to the National Association of Realtors Research Group’s 2020 Generational Trends of Home Buyers and Sellers Report. Fifty-two percent of homebuyers aged 30 to 39 and 88% of buyers aged 29 and under were first-time buyers. Among buyers aged 40 to 54, 23% were choosing their first home.

Among all generations, research begins online, according to the study.

“We’re all going shopping in sweatpants and pajamas, from condominiums to single-family homes to Instacart,” said Nancy Alperin-Regni, president and CEO of Maxwell Realty in Rittenhouse Square, and a real estate agent for over 30 years old. Google, Realtor.com and Zillow are popular and quick places to start a home search today, she said.

READ MORE: Philly is bringing back its popular first-time homebuyer grant program

Whereas previous generations relied on newspaper ads, word of mouth, and agent-run house tours, today buyers can research properties and neighborhoods, search for specific amenities, take virtual tours and apply for mortgages online.

While the search process may be different, today’s first-time buyers generally want the same things their parents were looking for, including three bedrooms and a nice kitchen in a good school neighborhood, Alperin-Regni said. Unlike many of their parents, today’s buyers are also looking for more outdoor space and an extra home office.

From a lending perspective, much more information is readily available online today, although homebuyers should verify its accuracy and may need further explanation from a finance professional. said Joseph Aiken, vice president of residential loans for Firstrust Bank, based in Horsham and Cherry Hill. .

“The loan process has become much more efficient and documentation has been streamlined,” said Aiken, who has been in the lending business for 39 years.

Although interest rates have risen dramatically in recent months, borrowers could last year secure a 2.5% mortgage on a 30-year fixed-rate loan, compared to the 17% or 18% their parents faced in the early 1980s, Aiken said.

Allison’s rate is 3% for a 30-year fixed mortgage, while her father paid around 8% for the same term.

READ MORE: Rising Mortgage Rates Mean Homebuyers Are Now Paying Hundreds of Dollars More A Month

Some first-time home buyers may qualify for state loans from agencies such as the Pennsylvania Housing Finance Agency and the New Jersey Housing Finance Agency, which may offer a slightly lower interest rate than a bank. Loans come with specific requirements regarding the cost of the home and the income of the buyer.

“That’s where a good lender comes in,” Aiken said. “They will tell you about these products as well as the expected monthly payments and the money needed to buy a house. People are sometimes shocked when they are told that they will need more money for closing costs in addition to the down payment.

Today’s first time buyers still depend on family members for advice and often financial assistance.

“We’ve come a long way in the past 30 years, but the old school is still here,” Alperin-Regni said. “I always see them bringing a family member with them to screenings.”

Allison’s father had a lot of experience to offer, having bought several homes for himself and as investments, as well as through his work as a financial adviser. He encouraged her to buy a house as soon as she could afford it, start building capital and not panic in a seller’s market.

“We had a good idea of ​​what was out there and what people were asking for,” Gerry said. “We’ve taken the attitude that if we don’t get it, we’ll find something else.”

Whether it’s a buyer’s or seller’s market, Alperin-Regni advises clients to be ready when the right home becomes available. Know your budget and research the selling price of comparable homes in the neighborhood so you can act quickly when you find what you like.

READ MORE: Philadelphia buyers consider taking second jobs and selling property to raise money for homes

The median down payment for first-time buyers in 2019 was 6%, and about a third of buyers received a gift or loan from a relative or friend to help them out, according to the National Association of Realtors (NAR) . For the same group in 1989, the median down payment was 10%. In 2000, the first year the study included data on gifts or loans, 27% of first-time homebuyers received a cash gift for the down payment.

“Families who have the resources to help value what real estate has done for them,” Alperin-Regni said.

Although some parents don’t write their children a check for a new home, they help indirectly, Aiken said. Whether it’s paying for their post-secondary education or allowing them to go home rent-free for every other year, they’re helping their children save money.

“A student loan limits what you’re going to be able to buy,” he said. “Today, first-time home buyers can live with their parents for a bit, saving them money for a down payment. It used to be that people didn’t want to stay in their homes and they rented or bought as fast as they could.

For many, the biggest challenge when buying a home is getting the down payment. The NAR says student loans, car loans and credit card debt are the biggest expenses that have delayed saving for a down payment.

According to the Time to Save study, conducted in March 2022 by Self Financial, a lending fintech company, a couple living an average lifestyle while earning average salaries in their geographic market could be saving for a down payment in a little over ‘a year. It ignores emergencies and assumes the only things you’re putting money aside for are retirement and a down payment, said Lauren Bringle, certified financial adviser at Self Financial.

“When you’re alone, however, the story changes dramatically,” she said.

According to the study, the majority of single women in every state are unable to set aside money monthly for a down payment, while in 34 states most single men could save at least some, largely because that men have a higher average salary.

“Despite that, there are only 25 states where a single man can save his down payment and closing costs in less than five years,” Bringle said.

READ MORE: Homeownership isn’t easier for black people in Philadelphia than it was 30 years ago

Financial advisers often suggest that a mortgage payment should not exceed 28% of a buyer’s pre-tax monthly income and 36% of a buyer’s total debt.

Pennsylvania and New Jersey are two states where it is difficult to save. The study found that in Pennsylvania, a first-time homeowner would need $13,797 on average for a down payment and closing costs and would expect to spend an average of $1,149.75 on rent and living expenses each month. In New Jersey, the down payment and closing costs average $19,963, and the monthly rent and living expenses are $1,663.58.

“A separate study in December 2021 looked at generational wealth and found that today’s 40s own half the wealth of older generations when they were the same age,” Bringle said.

Allison defied the odds and is now a happy owner. Although the process taught her a lot, she discovered that there is always more to learn.

“There are always surprises with home ownership,” Allison said. “I owned the house for four months and my water heater disappeared. I had a home inspection, so that was a surprise. But the purchase process was quite easy. Working with a good mortgage company, I felt like I was in good hands.

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Some Unsolicited Recession Survival Tips for Gen Z https://inzercepujcek.net/some-unsolicited-recession-survival-tips-for-gen-z/ Mon, 27 Jun 2022 20:59:23 +0000 https://inzercepujcek.net/some-unsolicited-recession-survival-tips-for-gen-z/ Placeholder while loading article actions Our economy is in a will-they-won’t relationship with the next big recession. The stock market is officially in bear territory (meaning stocks are down an average of 20% from their high). The Fed raised the benchmark interest rate by three quarters of a percent, the biggest increase since 1994. Inflation […]]]>
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Our economy is in a will-they-won’t relationship with the next big recession. The stock market is officially in bear territory (meaning stocks are down an average of 20% from their high). The Fed raised the benchmark interest rate by three quarters of a percent, the biggest increase since 1994. Inflation is felt everywhere, even when I have my latte. And there seems to be a wave of massive layoffs.

So “guess who’s back, back…” with some unsolicited advice for those who weren’t working during the last big recession. Every recession is unique, but tends to strike fear into our hearts, especially about job loss. During the Great Recession of 2008-2009, long-term unemployment (defined as 26 weeks or more) rose from around 20% to 45%, according to the National Bureau of Economic Research. This usually makes it harder for people to pay their bills, leading to consequences such as car repossessions, home foreclosures or evictions.

Before you panic, let’s talk about what you can do to prepare for a possible recession.

Although we technically experienced a recession in 2020, we have been quite distracted by the global pandemic. The moment we emerged from lockdown, the stock market stunned us with its recovery, we were ready to spend for revenge, and even the labor market had employees in positions of power.

The economic climate looks very different now.

One thing Gen Z can expect is a lot more uncertainty. This is partly explained by the fact that a recession will not be officially announced until we have already experienced one for several months. Historically, a recession was marked by two quarters of economic decline and usually determined by falling gross domestic product and rising unemployment. However, this is not a firm requirement.

Other indicators seep into the public consciousness before a recession becomes official. Inflation is one. Another is people who start to default on their loans. A noticeable decline in consumer spending is a big deal. Then, of course, there are the layoffs.

Job loss (or even securing a job in the first place) is one of the biggest concerns during a recession. It’s a feeling of vulnerability at any age, but it can be especially brutal for those in the early stages of their professional and financial establishment.

When the Great Recession hit, the oldest Millennials were 27 and many were just preparing to enter the workforce. Some 8.7 million nonfarm jobs were lost between early 2008 and 2010, according to the Bureau of Labor Statistics. And the labor market didn’t recover until May 2014, even though the NBER declared the end of the US recession in June 2009.

Millennials still bear the emotional and financial scars of the struggle to gain gainful employment. Although this is the most educated generation in history, our potential for long-term wealth has likely been seriously compromised as the recession has delayed the start of many careers. The whole side-hustle vibe wasn’t so much a desire as a need to cobble together a living wage.

It’s a lesson worth learning now: diversifying your sources of income can help you feel less vulnerable in a recession. (Don’t get caught up in a multi-level marketing system, which tends to gain traction in times of financial uncertainty.)

For those with a steady income, it’s wise to start building up those cash reserves. Especially if you are feeling the jolts in your industry.

One strategy I use is to establish a “baseline budget”. It’s a way for me to know the bare minimum that my household needs to live on each month. You cut out everything non-essential and focus on the cost of housing, utilities, transportation, pet/child care, medication, insurance premiums, monthly payments minimums and food. Knowing this number helps to know what I owe net after taxes.

You should also continue (or start) building an emergency savings fund. Take your base budget number and multiply it by the number of months you would want to cover if you lost your main source of income. Three to six months is often the rule of thumb, but keep in mind that it usually takes a few months to find a new job.

Another consideration is your broader social safety net. Take stock of the people in your network who can help you. Are there any family members or friends you can move in with or who could give you a short-term loan without compromising financially? Millennials living in their parents’ basements have become the cliché of our generation, but in reality, it made the most economical sense for many people.

How strong is your professional network for getting help finding a new job? Would you be eligible for unemployment if you lost your job or your main source of income? These are the questions to start thinking about.

Finally, don’t forget your mental and emotional health. Your basic budget may need to include therapy – which is essential for many and shouldn’t be put on the back burner until the economy as a whole stabilizes. If living with family members isn’t a healthy option for you, you can focus on other short-term financial goals (such as making retirement contributions or aggressively paying down debt) to channel money towards a viable living situation.

Recessions, like a pandemic, are scary and uncertain times. No economic downturn will exactly mirror its predecessor. All we can do is focus on what is within our control and prepare for what might happen.

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Erin Lowry is a Bloomberg Opinion columnist covering personal finance. She is the author of the three-part “Broke Millennial” series.

More stories like this are available at bloomberg.com/opinion

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Jim Cramer Says Earnings Estimate Cuts Will Form Investable Fund; Here are 3 ‘Strong Buy’ stocks that are already down 50% https://inzercepujcek.net/jim-cramer-says-earnings-estimate-cuts-will-form-investable-fund-here-are-3-strong-buy-stocks-that-are-already-down-50/ Fri, 24 Jun 2022 13:27:22 +0000 https://inzercepujcek.net/jim-cramer-says-earnings-estimate-cuts-will-form-investable-fund-here-are-3-strong-buy-stocks-that-are-already-down-50/ As we approach the end of the second quarter, it’s time to start thinking about earnings. As for the quarter, analysts expect earnings growth of 8%, which could reach 11% heading into next year. It’s a rosy picture, but it’s not a sure thing either. GDP contracted in the first quarter, by nearly 1.5%, and […]]]>

As we approach the end of the second quarter, it’s time to start thinking about earnings. As for the quarter, analysts expect earnings growth of 8%, which could reach 11% heading into next year. It’s a rosy picture, but it’s not a sure thing either. GDP contracted in the first quarter, by nearly 1.5%, and some estimates point to 0% growth in the second quarter. Such results would meet the technical definition of a recession – and recession is hardly the usual environment for finding robust earnings growth.

Regarding current conditions, Jim Cramer, the well-known host of CNBC’s “Mad Money” program, believes investors should wait for the post-earnings market to bottom out, writing, “Over the next weeks before earnings season begins, I expect analysts to hit us with preemptive estimate cuts while more companies hit us with negative advance announcements. We won’t have a tradable fund like this, but an investable fund.

In the meantime, there are stocks that have already been pushed hard by today’s bear market. Using the TipRanks database, we’ve identified three stocks that have fallen at least 50% this year – but analysts on the high street still consider them strong buys. Not to mention that each offers triple-digit upside potential, despite the challenging market environment. Let’s take a closer look.

Global Remittance (COUNT)

We’ll start with Remitly Global, a financial services company with an interesting niche. Remitly is focused on facilitating international transfer payments, keeping senders and receivers safe and making transactions both safe and accurate. The service is widely used by immigrant communities around the world, who have historically used remittance payments to send money “home”. Remitly operates in 160 countries, basing its services on a mobile app with lower fees than traditional banks.

Remitly has been in the public markets for less than a year, having held its IPO in September 2021. The company’s public debut has gone well, with shares opening above initial expectations and selling generating some $520 million in gross capital, but the stock has been falling ever since. RELY shares are down 56% year-to-date.

Even though the stock is down, Remitly’s business remains solid. Revenue reached $136 million in 1Q22, a 49% year-over-year gain. Strong revenue gains were driven by a 42% year-over-year increase in the number of active customers, from 2.1 million to 3 million, and a 43% year-over-year increase in sending volume, which increased from $4.3 billion to $6.1 billion. The company made a small positive adjustment to its full-year 2022 revenue forecast of $610 million to $615 million at the midpoint, representing about 34% year-on-year growth annual. On a negative note, the company’s profits fell as the net loss worsened from $7.8 million to $23.3 million year-on-year.

JMP analyst David Scharf saw the company’s recent results as a net positive, writing, “The strong momentum that closed 2021 continued and accelerated through the first quarter of 2022. Financial results of the first quarter were almost exactly in line with our forecasts. , while key operating metrics (active customers, volume sent and volume per customer) exceeded our expectations and drove the modest increase in full-year revenue guidance.

“Despite the sharp contraction in valuations attributed to tech and payments stocks, and heightened macro-economic uncertainties that are fueling global recession fears, RELY’s 30%+ revenue growth outlook reflects the secular digital tailwinds it enjoys. and its long corridor expansion track,” the analyst added.

Overall, Scharf thinks this is a title worth keeping. The analyst notes that RELY shares an outperformance (i.e. buy), and his price target of $22 suggests solid upside potential of around 140%. (To see Scharf’s track record, Click here)

Remitly also managed to earn a unanimous Strong Buy consensus rating from Wall Street, based on 4 recent positive reviews. The stock is selling for $9.15 and the mid price target of $18.75 implies an upside of around 105% from that level. (See RELY stock forecast on TipRanks)

LendingTree, Inc. (TREE)

The next beat title we will look at is Lending Tree, an online loan broker, connecting lenders and borrowers through an internet-based platform. Borrowers can track multiple loan options simultaneously, giving them increased flexibility when researching terms on everything from credit cards and insurance to loans and deposit accounts. Charlotte-based Lending Tree generated just over $1.09 billion in total revenue last year, up from $910 million the previous year.

For 1Q22, Lending Tree reported $283.18 million in revenue, a modest gain of 4% from the prior year quarter. Earnings were negative for the quarter, with a GAAP loss of 84 cents per share. This is a reversal from reported net profits in 4Q21 and 1Q21, and the largest net loss since 3Q20.

A review of the details of the Lending Tree earnings release shows an interesting pattern. The company’s Home segment was down 20% year over year as mortgage product revenue fell 33%. Revenue from the Insurance segment also decreased by 8% compared to 1Q21. At the same time, consumer credit activity is on the rise; credit card revenue grew 69% and personal loans grew 137% year-over-year. It should be noted that TREE shares are down 55% so far this year.

This model caught the eye of 5-star Truist analyst Youssef Squali. Describing the situation, Squali wrote: “As mortgage and refi products remain under pressure in a rising rate environment and inflation is pushing insurance premiums higher, TREE has not seen the same. negative impact on its Consumer business for 2T. The company expects revenue growth of “about 40%” year-on-year in 2Q, which is in line with our prior expectations after the 1Q results. We believe this highlights the continued strength TREE is seeing in verticals, such as SME and retail lending (TREE’s highest-margin business), as well as credit cards, given the lack of stimulus checks and higher levels of consumer spending this year.

“These trends are likely to last for a few more quarters as rates continue to climb, but easier comparisons from 4Q22 should lead to a further acceleration in overall growth in 2023. In the meantime, a reset in expectations, subdued valuation and an active buyback should keep the stock in check,” Squali summarized.

This reinforces the analyst’s view that TREE is a “buy” stock and is worth a target price of $130. At current levels, this target suggests an increase of about 137% for the coming year. (To see Squali’s track record, Click here)

In total, TREE has garnered 7 recent analyst analysis over the past few weeks, with 6 buys and 1 hold, making it a strong buy consensus rating. The stock’s $137.50 mid-price target suggests it has a solid 150% upside from the current trading price of $54.87. (See TREE stock forecast on TipRanks)

Financial company of Oportun (OPRT)

We will conclude with another online financial company. Oportun uses AI to power its digital banking platform, providing affordable financial services to some 1.7 million members. Oportun customers use the platform to access a full range of banking services, including savings accounts and investment services, but especially short-term personal loans and credits. Subprime borrowers often resort to high-risk services such as payday loans, but Oportun offers a range of alternatives. These include personal loans between $300 and $10,000, with payment between 1 and 4 years, and credit cards with limits between $300 and $1,000.

Late last year, Oportun decided to expand its footprint and customer base through the acquisition of Digit, an online neo-banking platform. The acquisition was a cash and stock transaction worth approximately $112.6 million.

Last year saw a generally bullish consumer environment, and Oportun benefited from four consecutive quarters of sequentially increasing revenues. The most recent quarterly report, 1Q22, showed $214.72 million in revenue, the best in more than two years and a 59% year-over-year increase. The total number of active members of 1.7 million represented a year-on-year growth of 48%. Earnings also rose, to $1.58 per share on a GAAP-adjusted basis, from 41 cents in the year-ago quarter for a hefty 285% year-over-year gain.

Despite those strong results — and record EPS — shares of Oportun are down 58% year-to-date. The stock losses didn’t worry BTIG analyst Mark Palmer, who wrote: “We believe the company’s long-term growth and profitability prospects have been bolstered by its acquisition of Digit, its partnership with MetaBank and the benefits to its cost structure from its focus on its digital strategy and the decline in the company’s share price has created an attractive buying opportunity. »

To that end, Palmer is pricing OPRT shares long, with a price target of $27, showing confidence in a strong 218% upside for the months ahead. (To see Palmer’s track record, Click here)

Wall Street likes Oportun, as shown by the 5 unanimous positive opinions of analysts, confirming the consensual rating of strong buy on the action. The shares are priced at $8.49 and their average price target of $25.50 suggests a year-over-year upside of around 197%. (See ORPT stock forecast on TipRanks)

To find great stock trading ideas at attractive valuations, visit TipRanks’ Best Stocks to Buy, a recently launched tool that brings together all of TipRanks’ stock information.

Disclaimer: The views expressed in this article are solely those of the analysts featured. The Content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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Mortgage rates continue to rise and approach 6% https://inzercepujcek.net/mortgage-rates-continue-to-rise-and-approach-6/ Thu, 23 Jun 2022 17:41:00 +0000 https://inzercepujcek.net/mortgage-rates-continue-to-rise-and-approach-6/ Placeholder while loading article actions Mortgage rates continued their upward momentum this week and show no signs of slowing as they approached the 6% mark, according to data released Thursday by Freddie Mac. Fixed-rate mortgage rates have jumped since the start of the year, increasing by more than two percentage points. The higher borrowing costs […]]]>
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Mortgage rates continued their upward momentum this week and show no signs of slowing as they approached the 6% mark, according to data released Thursday by Freddie Mac.

Fixed-rate mortgage rates have jumped since the start of the year, increasing by more than two percentage points. The higher borrowing costs are part of a campaign by the Federal Reserve to raise interest rates to calm inflation, and the fallout on the housing market was immediate.

In the past month alone, there have been fewer home sales, a drop in first-time buyers and sudden layoffs across the industry, signs that air may be escaping from the overheated housing market as higher rates lower the demand for housing.

“Real estate is very sensitive to increases in mortgage rates, so higher rates will pull back sales and further slow the housing market,” said Lawrence Yun, chief economist at the National Association of Realtors. “Housing is a major contributor to the US economy, and we’ve already seen builders cut production and slow sales. Hopefully higher rates won’t tip the US into a recession.

The real estate cooling has had a chilling effect on the mortgage industry. JPMorgan Chase is laying off hundreds of employees this week and reassigning hundreds more. Industry heavyweight Wells Fargo laid off more than 100 staff in its home loan business after a first-quarter revenue slump. Other lenders such as Pennymac, LoanDepot and Guaranteed Rate have also downsized.

Rising rates are also shaking up real estate companies. Real estate brokerage Compass recently announced a 10% layoff of its employees as well as a pause in hiring and expansion. Real estate brokerage Redfin also laid off 8% of its staff.

“The real estate industry is one of the most competitive, so any downturn quickly leads to business disruption,” Yun said.

Fed raises interest rates by largest amount since 1994 to fight inflation

The 30-year fixed-rate mortgage rose to 5.81% from 5.78% a week ago, according to Freddie Mac. It was 3.02% a year ago. The 15-year fixed-rate mortgage averaged 4.92%, down from 4.81% last week. A year ago, it was 2.34%. The five-year adjustable rate averaged 4.41%, up from last week when it averaged 4.33%. A year ago, it was 2.53%.

Earlier this month, the Federal Reserve raised interest rates by three-quarters of a percentage point in a bid to tame inflation – its biggest increase since 1994. It was the third of seven hikes expected this year. Although the central bank does not set mortgage rates, its own rate-setting activity affects them indirectly.

Despite higher mortgage rates, mortgage applications rose for the second straight week in the week ending June 12, according to the Mortgage Bankers Association (MBA).

“However, buying activity was still 10% lower than a year ago as inventory shortages and rising mortgage rates dampen demand,” said Joel Kan, associate vice president. economic and industrial forecasts for the MBA, in a press release.

Kan said the average loan size is just over $420,000, well below its peak of $460,000 earlier this year, and is potentially a sign that home price growth is slowing.

Harrison Beacher said his prospective homebuyer clients on budgets under $450,000 had a “visceral reaction” to the added costs of a home loan with a 6% mortgage rate.

“The difference in payment of a few hundred dollars with a higher rate has a much bigger impact on entry-level price buyers,” Beacher, managing partner of Coalition Properties Group with Keller Williams Capital Properties, told Reuters. DC. “These buyers pulled out of the market and decided to continue renting.

Since mortgage rates began to rise in early 2022 and then rose last week by more than half a percentage point to their highest level since 2008, homebuyers have increasingly felt the pinch of their expected housing payments. And yet, the bottom has not completely fallen on the housing market. Instead, there is a slowdown in sales and demand.

The comedown: After the stimulus boom, Americans face a darkening economy

“The combination of rising interest rates, inflation and house prices means that home buyers have lost almost 50% of the buying power they had six months ago,” he said. said David Howell, executive vice president and chief information officer of McEnearney Associates in McLean, Va. “With any other product that has had this kind of dramatic change, demand would drop, but that hasn’t happened.”

Over the past six weeks, contracts signed in the DC area are down about 15-20% from the same time last year, “but it’s not that steep a drop,” a- he declared.

Howell said 2021 and 2020 are two of the most abnormal real estate markets ever. Today’s housing market is comparable to 2019, except with an even lower inventory of homes for sale and higher mortgage rates, he said.

Still, mortgage rates aren’t expected to fall in the near future, nor is there evidence that prices are falling either, Beacher said. Instead of a general price reduction, the pace of appreciation is expected to slow, although some individual sellers are lowering their prices today if their home hasn’t sold.

Homebuyers who were looking at the top of their budget when rates were 3.5-4% could face a housing payment above their comfort level, said Carolyn Sappenfield, real estate agent at Re/Max Realty Services. in Bethesda, Maryland.

“If you don’t have to move and the payment is too high, you might want to step back and wait to see what happens with the market,” Sappenfield said.

First-time home buyers and those looking for entry-level housing need to be flexible about where and what type of home they buy, Beacher said.

What the Fed’s interest rate hike means for mortgages

“Your first home isn’t your forever home,” Beacher said. “It’s not impossible to buy, but you might not be able to buy exactly what you want. The dynamic is that renting isn’t cheaper than buying now and your rent will likely go up too.

The condominium market in DC, especially for older buildings without outdoor space, is softer than the rest of the housing market, Howell said. This may offer an opportunity to some first-time buyers.

For sellers, Beacher recommends pricing their homes appropriately and considering offering closing credits to help buyers lower their interest rate to make their payment more affordable.

“I train all of my customers to stay in the game if they can afford to buy,” Beacher said.

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Greystone secures $12.75 million in acquisition financing for Texas SNF; Optalis Healthcare Inks $81M and 7 Community Agreements to Expand Presence in Ohio https://inzercepujcek.net/greystone-secures-12-75-million-in-acquisition-financing-for-texas-snf-optalis-healthcare-inks-81m-and-7-community-agreements-to-expand-presence-in-ohio/ Tue, 21 Jun 2022 21:58:32 +0000 https://inzercepujcek.net/greystone-secures-12-75-million-in-acquisition-financing-for-texas-snf-optalis-healthcare-inks-81m-and-7-community-agreements-to-expand-presence-in-ohio/ Greystone provided $12,750,000 in bridge financing for the acquisition of a skilled nursing facility in Texas. Highland Meadows Health & Rehab, a 120-bed SNF in Rockwall, Texas. Highland Meadows Health & Rehab, a 120-bed SNF in Rockwall, Texas, was acquired on behalf of HACO Properties, LLC. Greystone Vice President DJ Elefant initiated the transaction and […]]]>

Greystone provided $12,750,000 in bridge financing for the acquisition of a skilled nursing facility in Texas. Highland Meadows Health & Rehab, a 120-bed SNF in Rockwall, Texas.

Highland Meadows Health & Rehab, a 120-bed SNF in Rockwall, Texas, was acquired on behalf of HACO Properties, LLC.

Greystone Vice President DJ Elefant initiated the transaction and Helios Healthcare Advisors served as debt broker in the transaction.

Interest-only financing has a 24-month term with a 12-month extension option.

The facility, operated by HACO Health Solutions, LLC, includes private and semi-private rooms, as well as a lounge, common room, library, and “comprehensive” therapy services.

Optalis Healthcare expands in Ohio with $81 million purchase

An Ohio-based elder care company — which included seven communities comprising about 750 dual-certified SNF beds and 200 senior housing units — recently sold its portfolio for $81 million, or about $130,000 per bed / unit.

The regional owner-operator sold five of the assets and sublet the other two, citing a desire to exit the NFC industry, Blueprint said in a press release.

The buyer, Optalis Healthcare, a Novi, Michigan-based owner-operator, was looking to expand its Midwest platform, according to Blueprint.

Non-recourse financing for the acquisition was provided by VIUM Capital.

After historically operating at near-stabilized levels with consistent revenue of over $70 million per year, portfolio performance has declined during the Covid-19 pandemic.

Blueprint received seven offers and ultimately selected Optalis.

VIUM uses bridge loan for $36,267,000 refinance

VIUM Capital announced that it has secured $36,267,000 in refinancing for five skilled nursing facilities in Louisiana for a nonprofit borrower.

The loans will be used to refinance various tax-exempt bond issues and term bank loans and will be refinanced next year with loans from the US Department of Housing and Urban Development.

VIUM and a local bank provided the loans.

Structuring the transaction into a single loan allows the company to reallocate debt among the five facilities based on performance, according to VIUM Executive Managing Director Steve Kennedy.

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Bitcoin price falls below $20,000 for the first time since 2020 https://inzercepujcek.net/bitcoin-price-falls-below-20000-for-the-first-time-since-2020/ Sun, 19 Jun 2022 00:19:00 +0000 https://inzercepujcek.net/bitcoin-price-falls-below-20000-for-the-first-time-since-2020/ Placeholder while loading article actions On Saturday, Bitcoin fell below $20,000 for the first time since December 2020, indicating that a decline in cryptocurrency values ​​is accelerating with little end in sight. The price of the major cryptocurrency hit $17,787 late Saturday afternoon, down 14% for the day and more than 35% since last weekend. […]]]>
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On Saturday, Bitcoin fell below $20,000 for the first time since December 2020, indicating that a decline in cryptocurrency values ​​is accelerating with little end in sight.

The price of the major cryptocurrency hit $17,787 late Saturday afternoon, down 14% for the day and more than 35% since last weekend. Crypto coin values ​​plummeted throughout the week amid a host of challenges for the sector.

These issues include trading platform Coinbase laying off 18% of its staff, crypto bank Celsius saying it was suspending withdrawals, challenges from a hedge fund known as Three Arrows Capital (3AC), a decline broader stock market and a move by the Fed this week to raise interest rates in an attempt to slow soaring inflation.

This all follows the collapse last month of Terra’s stablecoin and related coin, luna, which precipitated a plunge.

The voices of crypto-skeptics are getting louder

Bitcoin’s decline is important not only as an indicator, but also because it tends to trigger further selling in the market – investors lose confidence and want to stem losses as the coins they hold lose the value. The price of ethereum, another popular cryptocurrency, fell below $1,000 on Saturday for the first time since January 2021, following a similar decline to bitcoin. Ethereum lost more than 10% of its value in the last day and 40% in the last week.

Bitcoin price was as low as $6,000 at the end of March 2020, at the start of the pandemic, before a rally began. More and more people have discovered the sector and interest in digital investing has grown with people stuck at home and looking for outlets to spend time and money. Stimulus checks also likely helped push prices higher for the same reasons.

Last November, bitcoin had surpassed $61,000. But it has been falling steadily ever since, with experts saying the decline is likely to continue in the near term.

“With rising rates, we will actually see yield decline in the crypto space across all assets,” Haohan Xu, chief executive of crypto firm Apifiny, wrote in a note, echoing skepticism from many. actors and analysts.

The hike — the Fed raised interest rates by three-quarters of a percentage point on Wednesday, the highest jump in 28 years — has had a big impact on crypto, given how many investors in the sector rely on loans. “Borrowing has been very important for anyone participating in the crypto market,” Xu wrote.

The crypto world is also highly interdependent, with investment firms often holding positions in each other, magnifying the effect of a downturn. 3AC, which many crypto start-ups rely on for their investments, took a hit because it invested hundreds of millions of dollars in luna.

This is not the first prize roller coaster for bitcoin. In 2018, a sell-off known as “crypto winter” caused the price to plummet from $14,000 at the start of the year to just under $3,000 at the end of the year. It fetched $9,000 in February 2020 before taking off during the pandemic.

Expert predictions of where bitcoin will bottom out this time around have been all over the map, in light of economic uncertainty and the lack of long historical patterns.

But many more people are investing in cryptocurrency now than four years ago, when it was largely a niche investment. A Pew study last year found that up to 16% of Americans held cryptocurrency at some point.

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June 16 Mortgage Rates https://inzercepujcek.net/june-16-mortgage-rates/ Thu, 16 Jun 2022 15:43:35 +0000 https://inzercepujcek.net/june-16-mortgage-rates/ Placeholder while loading article actions Last week’s higher-than-expected inflation data prompted a rapid escalation in mortgage rates. According to the latest data released Thursday by Freddie Mac, the 30-year fixed rate average climbed to 5.78% with an average of 0.9 points. (A point is a commission paid to a lender equal to 1% of the […]]]>
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Last week’s higher-than-expected inflation data prompted a rapid escalation in mortgage rates.

According to the latest data released Thursday by Freddie Mac, the 30-year fixed rate average climbed to 5.78% with an average of 0.9 points. (A point is a commission paid to a lender equal to 1% of the loan amount. It is added to the interest rate.) It was 5.23% a week ago and 2.93% a week ago. one year old. The 55 basis point increase is the biggest one-week jump since 1987. (One basis point equals 0.01 percentage points.) The 30-year fixed average hasn’t been this high since November 2008 .

Freddie Mac, the federally chartered mortgage investor, aggregates rates from about 80 lenders across the country to arrive at weekly national averages. The survey is based on mortgages on the purchase of a home. Refinance rates may be different. It uses rates for high quality borrowers with strong credit scores and large down payments. Due to criteria, these rates are not available to all borrowers.

The average of 15-year fixed rates climbed to 4.81% with an average of 0.9 points. It was 4.38% a week ago and 2.24% a year ago. The average of the adjustable rates over five years rose to 4.33% with an average of 0.3 points. It was 4.12% a week ago and 2.52% a year ago.

“The Freddie Mac fixed rate for a 30-year loan continued to climb this week in response to last week’s inflation data and in anticipation of this week’s increase in the target federal funds rate,” said Hannah Jones. , economic data analyst at Realtor.com. . “While rates tracked by Freddie Mac remain in the high fives, other mortgage surveys showed interest rates topping 6% early this week in response to inflation data that rose to 8 .6% in May.”

The Federal Reserve this week approved its largest interest rate hike since 1994, raising its benchmark rate by 0.75 percentage points. The rate hike is the third this year by the Fed as it tries to tame inflation. At its May meeting, the central bank raised the federal funds rate by half a percentage point. It took its first steps towards lower inflation in March when it raised its benchmark rate for the first time since 2018. Although the Fed does not set mortgage rates, its actions influence them.

Fed raises interest rates by largest amount since 1994 to fight inflation

“The annual inflation rate accelerated unexpectedly to 8.6% in May, and mortgage rates will not have much reason to fall as long as inflation remains high,” said Holden Lewis, specialist home and mortgage loans at NerdWallet. “The Federal Reserve raised short-term rates by 0.75 [percentage point] to slow economic growth and control inflation.

Investors had widely anticipated the aggressive move, which is why long-term bond yields have soared this week. The 10-year Treasury yield hit its highest level in more than a decade, hitting 3.49% on Tuesday before falling back to 3.33% after the Fed’s announcement. At the start of the year, the yield was 1.63%.

“The 30-year mortgage rate tends to track the yield of the 10-year Treasury and the 10-year Treasury just hit its highest yield in 11 years,” wrote Steve Reich, chief operating officer at Finance of America. Mortgage, in an email. “The 10-year Treasury is rising because investors are anticipating rate hikes in the future. As a result, we have also seen mortgage rates follow suit and rise recently. In the short term, mortgage rates will likely continue to trend higher. similar range and to keep pace with the 10-year Treasury yield.”

Lewis expects mortgage rates to be less volatile in the near future.

“Mortgage rates tend to go up and down in anticipation of Fed rate moves, which is a way of saying that the Fed increase has already been priced into mortgage rates,” he said. . “In other words, mortgage rates are more likely to go up or down before Fed meetings than after Fed meetings. Over the next week or two, we probably won’t see any big moves in mortgage rates like we did last week.

The Fed has signaled that another 0.75 percentage point hike could also be on the table next month, although Federal Reserve Chairman Jerome H. Powell told reporters after the meeting that he did not expect movements of this magnitude to be common.

“Given that consumer price inflation hit a 40-year high last week, it is very possible that the Fed will take a more hawkish stance on inflation and raise rates at a faster pace than expected. initially,” Reich wrote. “While there is always the possibility of rates falling later in the year depending on the Fed’s inflation forecast, we can probably expect to see mortgage interest rates continue to rise over the next few months. coming months.”

Bankrate.com, which publishes a weekly index of mortgage rate trends, found experts surveyed to be mixed as to which direction they expect rates to go in the coming week. Forty percent said they will go down, 40% said they will stay the same and 20% said they will go up.

Dick Lepre, loan officer at CrossCountry Mortgage, predicts lower rates.

“Last week’s massive rise in Treasury yields and mortgage rates should lead to a week of modest respite,” Lepre said.

But Greg McBride, chief financial analyst at Bankrate.com, predicts rates will remain stable.

“Will the Fed’s aggressive move be enough to keep rising bond yields and mortgage rates in check?” McBride said. “Unless and until inflation peaks, it will only be temporary.”

Meanwhile, rising rates continue to dampen mortgage applications. Even though the total number of requests rebounded slightly last week from the previous week, which was adjusted for the Memorial Day holiday, volume was down more than 50% from a year ago.

The composite market index – a measure of the total volume of loan applications – rose 6.6% from the previous week, according to data from the Mortgage Bankers Association. The refinancing index rose 4% from the previous week, but was 76% lower than a year ago. The buy index rose 8%. The refinance share of mortgage activity accounted for 31.7% of applications, the second lowest percentage since December 2000.

“Mortgage applications rose for the first time in five weeks, with purchase and refinance activity posting solid gains even as mortgage rates climbed,” wrote MBA President and CEO Bob Broeksmit in an email. “Despite the jump in purchase requests last week, high inflation, rapidly rising mortgage rates and rising house prices have cooled the housing market. The new MBA forecast predicts that sales of new homes and will fall below 2021 levels.”

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter – June 2022 #2 | Troutman pepper https://inzercepujcek.net/troutman-pepper-weekly-consumer-financial-services-covid-19-newsletter-june-2022-2-troutman-pepper/ Tue, 14 Jun 2022 14:43:49 +0000 https://inzercepujcek.net/troutman-pepper-weekly-consumer-financial-services-covid-19-newsletter-june-2022-2-troutman-pepper/ Like most industries today, consumer credit services businesses continue to be significantly impacted by COVID-19. To help keep you up to date with relevant activity, below is a breakdown of some of the biggest federal and state legislative and regulatory events impacting the consumer credit services industry during the week. last : Federal activities State […]]]>

Like most industries today, consumer credit services businesses continue to be significantly impacted by COVID-19. To help keep you up to date with relevant activity, below is a breakdown of some of the biggest federal and state legislative and regulatory events impacting the consumer credit services industry during the week. last :

Federal activities

State activities

Privacy and cybersecurity activities

Federal activities:

  • On June 9, the Consumer Financial Protection Bureau (CFPB) launched an investigation into financial practices and products that may leave employees indebted to their employers. In the request for information, the CFPB seeks data on these emerging financial practices and products called employer borrowing, as well as the experiences of workers. For more information, click here.
  • On June 8, the Office of the Comptroller of the Currency (OCC) proposed to add cannabis and digital currency activity to the list of business data it collects from banks to better identify risky areas in the world. the financial system. For more information, click here.
  • On June 7, Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced the Responsible Financial Innovation Act, a bill eagerly awaited by everyone in the cryptocurrency industry. For more information, click here.
  • On June 7, the Federal Reserve announced that it would release a second tool to help community financial institutions implement Current Expected Credit Losses (CECL). Known as the Expected Loss Estimator, the spreadsheet-based tool uses loan-level data and a financial institution’s management assumptions to help community financial institutions calculate their CECL allocations. For more information, click here.
  • On June 3, the Federal Trade Commission (FTC) issued a request for information that could form the basis of a major update to its digital advertising guidelines. The FTC’s most recent digital advertising guide—2013 “.com Disclosures – How to Make Effective Disclosures in Digital Advertising” (.com Disclosures Guide)—provides guidance on how to make “clear and visible” disclosures in online advertisements, while offering examples of problematic advertisements with explanations on how to make clear and visible disclosures. The .com Disclosure Guide has been hugely influential in setting the bar for compliant Internet advertising. For more information, click here.

State activities:

  • On June 9, the California Office of Administrative Law approved commercial finance disclosure regulations, which require consumer-type disclosures for certain commercial finance products, such as small business loans and cash advances. tradespeople. Once this final step is completed, these Department of Financial Protection and Innovation regulations will go into effect on December 9, completing a process that began with the adoption of SB 1235 in 2018. For more information, click on here.
  • On June 8, Colorado Governor Jared Polis signed a bill prohibiting healthcare facilities from pursuing debt collection activities against people with unpaid medical bills unless those facilities meet federal guidelines. on price transparency. For more information, click here.
  • On June 8, the New York Department of Financial Services released new compliance requirements for issuers of US dollar-backed stablecoins. For more information, click here.
  • On June 2, the Washington, DC City Council unanimously approved the “Consumer Protection from Unfair Debt Collection Practices Amendment Act of 2022.” The bill clarifies that a debt collector or debt buyer can only send text messages, emails or private messages on social media after sending the required written notice to consumers. It also clarifies that a debt collector or debt buyer may send an SMS, an email or a private message during a period of seven days for the purpose of obtaining the consumer’s consent to communicate via a or more of these methods. For more information, click here.

Privacy and cybersecurity activities:

  • The Consumer Protection and Commerce Subcommittee of the U.S. House Committee on Energy and Commerce will hold a hearing on June 14 to discuss U.S. data protection and privacy law. Subcommittee members, U.S. Representatives Frank Pallone (D-NJ) and Cathy McMorris Rodgers (R-WA), co-wrote the draft. To read the announcement, click on here.
  • On June 8, the California Privacy Agency’s Board of Directors voted unanimously to authorize Executive Director Ashkan Soltani to begin the rulemaking process for the California Privacy Rights Act. The agency released draft regulations ahead of the June 8 meeting, while Director Soltani had previously said the agency would miss the July 1 deadline, with regulations expected to be completed by the third or third. fourth trimester. To learn more, click here.
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Delay in decision to cancel student debt worries borrowers https://inzercepujcek.net/delay-in-decision-to-cancel-student-debt-worries-borrowers/ Fri, 10 Jun 2022 20:50:00 +0000 https://inzercepujcek.net/delay-in-decision-to-cancel-student-debt-worries-borrowers/ Placeholder while loading article actions Updated with a comment from the White House. Every night before bed, Victor DeMarco scoured his Twitter feed for one thing: news on student debt forgiveness. DeMarco, 31, verifies the accounts of activists, journalists, the White House, President Biden and his press secretary. It’s a familiar routine: Check for updates. […]]]>
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Updated with a comment from the White House.

Every night before bed, Victor DeMarco scoured his Twitter feed for one thing: news on student debt forgiveness.

DeMarco, 31, verifies the accounts of activists, journalists, the White House, President Biden and his press secretary.

It’s a familiar routine: Check for updates. Refresh the page. Expect.

“Waiting, not knowing, anticipating a decision, it gives me anxiety. I know I’m not alone,” said DeMarco, a traveling nurse in Kansas City, Mo., with $68,000 in student loans.

Since taking office, Biden has fueled speculation about whether he will deliver a campaign promise to cancel part of the 1,600 billion dollars held in federal student debt. In April, the president told a meeting of Hispanic lawmakers he was open to canceling student debt, then later told reporters he would have an answer on an additional pardon “within two next weeks”.

But more than a month later, no decision has been announced.

Natalia Abrams, founder of the Student Debt Crisis Center, an advocacy group, said the delay would increase stress and anxiety. “Borrowers need to know so they can plan their financial lives,” Abrams said.

Who Has Student Loan Debt in America?

The Washington Post reported that White House officials plan to write off $10,000 in student debt per borrower for Americans who earned less than $150,000 in the previous year, or less than $300,000 for married couples. who file jointly. People familiar with the matter say income caps are in flux as some Democratic lawmakers plead with the White House to drop the means test.

The people, who spoke on condition of anonymity because they were not authorized to discuss the deliberations, say the Biden administration is still assessing the political impact and logistics of carrying out the politics. As a result, they say, a decision is no longer imminent.

“The president understands first-hand the burden that student loan debt can place on families, and the administration continues to evaluate forgiveness options,” White House spokesman Abdullah Hasan said. “No decision has been made.”

Liberal activists and lawmakers clamor for Biden to erase some student debt before the end of the pandemic-induced loan repayment moratorium on August 31. About 41 million borrowers are benefiting from the pause in their federal student loan repayments that began two years ago under the Trump administration.

Hasan noted that Biden has kept the moratorium in place while in office and has already provided 1.3 million borrowers with a total of $25 billion in debt relief.

Education Department to erase $5.8 billion in Corinthian Colleges student debt

Supporters say that rather than repeatedly extending the moratorium, Biden needs to relieve as many people as possible of the burden of school debt. Critics of debt forgiveness argue that lavish loan forgiveness on college graduates is an irresponsible and costly policy that does nothing to fix the ailing lending system.

With his federal student loan payments on pause since March 2020, DeMarco has paid off $42,000 in private education debt and accumulated his savings. He and his wife are keen to buy a house, but are reluctant to go ahead until they have a clearer idea of ​​what will reach the balance of his federal loan.

Prior to the moratorium, DeMarco was handing over $1,000 a month to the Department of Education to pay off loans he got out for a Bachelor of Health Sciences from Truman State University and a Nursing degree from William Jewell College.

The moratorium has come at a crucial time. DeMarco has spent much of the past two years nursing the coronavirus patients in intensive care units across the country. The work was grueling, he said, and the last thing he needed was to worry about his loans.

“The prospect of having debt wiped out, especially after risking my life on the front line…it would be life changing,” DeMarco said. “Ten thousand may not seem like a lot with what I have, but it would help.”

Biden dives into risky student loan debt politics

At an event hosted by the Bipartisan Policy Center on Monday, Education Undersecretary James Kvaal acknowledged that large-scale debt cancellation would help many borrowers. “At the same time,” he added, “and I think students and other broad-based advocates will tell you, we also need permanent solutions.”

Higher education experts fear that delaying an annulment decision could hamper other policy priorities of the Department for Education.

For example, the administration plans to help 7.5 million people get out of default on their federal student loans, sparing them from garnishment of wages, tax refunds and Social Security benefits. Sarah Sattelmeyer, higher education project director at the New America think tank, said the department should have a clear accounting of its delinquent loan portfolio when designing the initiative, dubbed Fresh Start.

“We need to know what’s happening with the cancellation before we can execute this policy,” Sattelmeyer said. “Whether [Biden] writes off $10,000 of debt, which wipes out about half of the default portfolio. That would make Fresh Start a very different program to do.

She also worries that dragging out a cancellation announcement could further erode borrower confidence, especially as the Biden administration seeks to reform the federal student loan system.

“If you rebuild a system and ask people to believe in it, that is detrimental,” Sattelmeyer said.

Sarah Lippitt, 36, of Tucson, said she waived the possibility of an annulment, skeptical of the president’s commitment to politics. She started coming back after seeing articles about the White House examining Biden’s leverage or weighing restrictions. His hope, however, turns to pessimism.

“It’s been difficult because they keep coming and going, and every few months they talk about it. I don’t know if they’re doing it to light up the base…but at this point I’m not very optimistic,” said Lippitt, an account manager at a nonprofit charity that owes $40,000 in loans. students.

Lippitt was also frustrated with the chain of last-minute extensions of the payment break by the Biden administration. Although she is grateful for the reprieve, she said, the uncertainty has left her in financial limbo.

“I know I get this $450 payment every month and it changes our family’s budget, what we’re going to spend, what we’re going to save,” Lippitt said. “Every time I think they’re going to reinstate it and there’s another break at the last minute, it makes planning very difficult.”

This week, Education Secretary Miguel Cardona signaled that another extension could be on the table. Sen. Jeanne Shaheen (DN.H.) questioned Cardona on Tuesday about the end of the moratorium, during a Senate Appropriations subcommittee hearing on the Department of Education’s fiscal year 2023 budget request.

“I have no further information to share with you. … I know we have a date, and it might be extended,” Cardona told lawmakers. “Borrowers will be given adequate notice.”

Abrams of the Student Debt Crisis Center is skeptical. She said Biden’s track record of keeping borrowers in the dark until the last minute doesn’t inspire confidence whether it’s a decision on moratorium or debt cancellation .

Biden “has created unnecessary confusion and stress for many families,” Abrams said. “Borrowers need to know what their future holds as soon as possible.”

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USMNT’s Haji Wright returns to US program https://inzercepujcek.net/usmnts-haji-wright-returns-to-us-program/ Thu, 09 Jun 2022 01:03:44 +0000 https://inzercepujcek.net/usmnts-haji-wright-returns-to-us-program/ Placeholder while loading article actions Haji Wright got the call from U.S. national soccer team coach Gregg Berhalter about six weeks ago – a call that, until this spring, was far from warranted. For years, while many of his peers were excelling abroad, the American striker had drifted onto the European club scene without delivering […]]]>
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Haji Wright got the call from U.S. national soccer team coach Gregg Berhalter about six weeks ago – a call that, until this spring, was far from warranted.

For years, while many of his peers were excelling abroad, the American striker had drifted onto the European club scene without delivering on the great promise he had shown at national youth team level.

There were spells with clubs in Germany, the Netherlands and Denmark, but without a breakout season he had lost himself in the mix of young American prospects abroad.

Then last year Wright moved to Turkey, and at the end of a 2021-22 campaign in which he finished among the Super Lig’s top scorers, the 24-year-old striker had caught the eye by Berhalter.

In a World Cup year – and needing scoring options as roster decisions approach – Berhalter made the call to invite Wright to a training camp that included four matches this month -this.

“I was hoping for more than I expected,” Wright said of the call, “but I wasn’t surprised.”

He was not surprised as he scores like no other American: 14 goals in 32 appearances (21 starts) for Turkish club Antalyaspor, including eight goals in seven appearances over a six-week period in April and May.

He was also productive the previous season, scoring 11 goals for Danish club Sonderjyske, but his ability to maintain those numbers in a stronger league has put him on Berhalter’s radar this year.

In the American camp for the first time since 2019, Wright made his senior debut on June 1 as a substitute against Morocco in Cincinnati. Late in the game, with the Americans leading by two and the team awarded a penalty, American star Christian Pulisic handed the ball to Wright, whose conversion capped a 3-0 victory.

The USMNT comes out of its Concacaf bubble and impresses against Morocco

“I asked him, and he gave me the opportunity to score my first goal, in my first game, and it’s a really great feeling,” Wright said.

Pulisic said he “just wanted to give him some confidence”.

“I’m happy to see him score,” he said.

It’s been a long road for the Southern California native. As his national youth team career skyrocketed with 27 goals in 34 games, Wright struggled to achieve the club’s ambitions.

“It’s definitely not linear,” he said. “There were a lot of ups and downs. There were a lot of good patches and rough patches. I think I persevered through the tough times and enjoyed the good times.

Wright finds himself in a good pass at the right time. While many places in the World Cup roster are all but set, the striker’s position remains uncertain.

Since last summer Berhalter have used Josh Sargent, Ricardo Pepi, Jesús Ferreira, Jordan Pefok, Gyasi Zardes and Daryl Dike. None seized the role of holder.

In this camp, the penultimate before the team showed up in Qatar in November, Wright and Ferreira, 21, were the only strikers invited. The competition for calls to the two friendlies in September, however, remains wide open.

Ahead of controversial World Cup, American men say they see the big picture

For the first two matches this month, Ferreira started and Wright came off the bench. In all likelihood, Wright will receive his first start on Friday against Grenada in a Concacaf Nations League game in Austin.

“I still don’t think there’s enough sample size for Haji,” Berhalter said after Sunday’s 0-0 draw with Uruguay in Kansas City, Kan. “We will continue to work with them, and [with] two Nations League games, we’ll see if Jesús and Haji can hit the back of the net.

Wright’s appeal has been embraced by established players who have known him from his youthful national team days.

“It was the duo back then – me and Haji,” Pulisic said. “We played a lot of games together in national youth teams, and it’s cool to see him again.”

Midfielder Weston McKennie called Wright’s comeback “magnificent”.

“Some players would be knocked down,” McKennie said. “Some players would have lost their morale. But for him, finding his own way back here is definitely inspiring.

Midfielder Tyler Adams said he was delighted to “watch how he has grown, developed and matured as a player”.

Asked about reuniting with these players, Wright smiled and said: “They haven’t changed much. The same clumsy guys when we were 15, 14.

Wright’s journey began at the Los Angeles Galaxy youth academy, then New York Cosmos, then Schalke’s Under-19 team in Germany. After a loan spell at German second division Sandhausen, he made seven Bundesliga appearances and scored once for Schalke’s first unit in 2018-19.

Wright signed with VVV-Venlo in the Dutch top flight but failed to score in 22 league appearances. It was then on Sonderjyske, where he started to find his way in 2020-21. The Danish team decided to loan him to Antalyaspor last season.

“Having moved around a lot in the last two years, it added some life experience and an understanding of life,” Wright said. “When you witness different styles of play, you learn more instead of playing in one country all your life. I understand football a bit better than when I started.

He thanked his coach, former Turkish midfielder Nuri Sahin, for mentoring him.

“He puts me in situations where I can help the team score goals and create goals,” Wright said. “He also taught me a lot about being a striker. He helped me more with my building and linking game, my positioning. He put me in places where I can be in front of goal and the guy who shoots and [getting] bounces.

Wright finished tied for seventh in the Super Lig scoring race, and his club finished on a 16-game unbeaten streak to climb to seventh on the 20-team circuit, nine places clear of the last year.

“He was able to start dominating in games,” Berhalter said, adding that it was the “perfect time” to invite Wright to the American camp.

Pulisic appreciates Wright’s arduous journey, saying, “I really respect people who haven’t necessarily had it easy. He’s had his ups and downs, and to come out the other side and perform as well as he is now is impressive.

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