While it is true that a timeshare contract is a binding legal document, it is often mistakenly thought that such a contract cannot only be cancelled. In fact, most timeshare companies maintain that their contracts are non – cancellable. This misconception is perpetuated by timeshare companies and user groups that are funded, maintained and controlled by the timeshare industry.
The FHA 203k loan program provides home buyers the opportunity to buy and fix up a property, without exhausting their personal savings.
The housing market is expected to drive economic growth in the first half of 2020, according to a new forecast from Fannie Mae.
The GSE upgraded its 2020 forecast Monday, projecting real GDP growth of 1.9%. The housing market added growth in the third quarter for the first time in more than a year and a half, and Fannie Mae’s Economic and Strategic Research (ESR) Group expected that momentum to carry over into Q4 and the first half of 2020. Consumer spending, the expected easing of trade tensions, and stimulative fiscal policies also drove economic growth.
“AS we forecasted, housing supported the larger economy in the third quarter, and we expect it to continue to play a productive role through the first half of 2020,” said Doug Duncan, Fannie Mae senior vice president and chief economist. “Positive contributions from single-family housing construction, home improvements, and brokers’ fees pushed residential fixed-investment growth to a robust 5.1% annualized pace this past quarter, and we forecast continued but moderating strength as construction activities and home sales growth continue at a slower pace.”
Duncan also projected adjustments in the mortgage space next year.
“With mortgage rates normalizing, we expect a decline in refinance activity in 2020, with the refinance share of originations dropping from a projected 37% in 2019 to 31%,” he said. “Of course, the housing market as a whole remains constrained by the persistent supply and affordability issues, which is particularly unfortunate given the current strength of consumer demand for reasonably priced homes.”