New immigrants to Israel who purchase a first residence will pay significantly lower purchase tax rates than the tax payable according to the current benefit, after the Knesset Finance Committee recently approved an amendment...more
In its latest campaign against “junk fees,” the CFPB announced that it was requesting consumer feedback on fees incurred as part of the residential home loan closing process, such as title insurance, credit reporting, and...more
Budgets are normally stories of two halves. The first half contains the headline-grabbing tax policy reforms that can be encapsulated in a snappy soundbite in the Budget speech, such as “Chancellor scraps the non-dom regime”....more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
MassHousing, Boston, Salem and Worcester have introduced novel programs using American Rescue Plan Act (ARPA) funds to create and preserve affordable housing following the U.S. Treasury’s Final Rule on Coronavirus State and...more
W dniu 14 kwietnia 2023 roku Sejm uchwalił Ustawę o pomocy państwa w oszczędzaniu na cele mieszkaniowe (dalej jako „Ustawa mieszkaniowa 2023”). Obecnie trwają dalsze prace legislacyjne, już na etapie Senatu 1. Jak zatem widać...more
Kontynuujemy serię artykułów poświęconych rządowym programom wsparcia młodych rodzin, czy tez szerzej, młodych ludzi, w nabyciu swojego pierwszego lokum – domu albo mieszkania. W pierwszym, otwierającym artykule serii,...more
Założenie własnej rodziny przez młodych ludzi wiąże się z nieodpartą koniecznością zaspokojenia potrzeby posiadania własnego mieszkania lub domu wolnostojącego. Powyższą potrzebę realizuje się w drodze zakupu lokum albo domu...more
On February 22, FHA announced a 30 basis point reduction in the annual premium charged to mortgage borrowers, resulting in mortgage insurance premiums of 0.55 percent for most borrowers seeking FHA-insured mortgages (down...more
CITY HALL- Property Reassessments Cause Residential Values to Skyrocket and Commercial Values to Increase Less Dramatically- On Tuesday, the Kenney administration announced the value of the average residential property...more
On April 7, 2022 (Budget Day), the Honourable Chrystia Freeland, Deputy Prime Minister of Canada and Minister of Finance, delivered the Liberal Party’s federal budget (Budget 2022), the second budget since the start of the...more
On February 9, 2022, Michigan Governor Gretchen Whitmer signed a law amending the Michigan Income Tax Act to allow a new deduction for contributions to certain “first-time home buyer” savings accounts. ...more
Buying a home remains one of the largest financial commitments and personal goals in an individual’s life. However, in the current market buyers are moving quickly, making large cash offers above-asking value and waiving...more
Anyone currently trying to buy a home in the United States is keenly aware of the low inventory of available homes and record-high prices. The current home-buying environment is especially challenging for low-income,...more
Il Decreto Legge 26 ottobre 2019 n. 124 (“Decreto Fiscale”), pubblicato nella Gazzetta Ufficiale n. 252, del 26 ottobre 2019 e, convertito in Legge n. 157, del 19 dicembre 2019, ha introdotto all’art. 41-bis la c.d. norma...more
The CFPB has issued a report, “Mortgages to First-time Homebuying Servicemembers,” that focuses on mortgage loans made from 2006 to 2016 to first-time homebuyers who are serving in the military or are veterans....more
Now to be fair, Starbucks Executive Chair Howard Schultz has stepped away before. But this time feels more definitive, especially with the call of politics apparently swimming around in his post-Sbux plans....more
Ballard Spahr’s mixed-use, condominium, and multifamily lawyers are pleased to provide this newsletter to keep you apprised of important developments and trends in real estate law in Maryland, Virginia, and Washington, D.C. ...more
The CFPB sent industry trade groups a letter on October 1, 2015 to address the approach of the Federal Financial Institutions Examination Council (FFIEC) member agencies during the initial months following the implementation...more
On July 29, the following four CFPB-related bills were passed by the House Financial Services Committee: H.R. 3192, the “Homebuyers Assistance Act”: The bill would provide a hold harmless period for the TILA/RESPA Integrated...more
Wednesday, the following four CFPB-related bills were passed by the House Financial Services Committee: H.R. 3192, the “Homebuyers Assistance Act”: The bill would provide a hold harmless period for the TILA/RESPA Integrated...more
HUD recently issued a notice in the Federal Register soliciting public comment on a proposed four-year, two-phase housing counseling pilot, HAWK for New Homebuyers. HAWK (Homeowners Armed With Knowledge) is linked to HUD’s...more
As the housing market springs back to life, one demographic remains underrepresented among homebuyers. U.S. census data shows that the rate of homeownership for adults under the age of 35 has declined by almost 8% in the last...more