‘We want people to stay in their homes’: Mortgage lenders don’t expect a flood of foreclosures when moratorium ends

At Greenfield Savings Bank, about 20% of mortgage customers are in deferral, said President John H. Howland.

These are people who have told the bank they’ve suffered an economic loss from the coronavirus pandemic.

“It allows people to not make payments,” he said. “It basically goes on the back end of the mortgage.”

But now those deferrals of 30, 60 or 90 days are ending just as the statewide moratorium on mortgage foreclosures is set to end Saturday. A moratorium on residential evictions is also expected to sunset.

All are measures meant to soften the blow and guide households through COVID-19. But even with the moratoriums ending, local mortgage lenders don’t expect a rush of foreclosures to come sweeping through the system, as they did in the 2008-09 recession.

“We don’t know what is going to happen when the deferral period ends and people start payments,” Howland said. “We want

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Young people return to their parents’ homes in the US due to COVID-19


6 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.


This story originally appeared on Alto Nivel

By Antonio Sandoval

For the first time in nine decades , young adults have returned to parental homes at a rate not seen since the Great Depression era of the 1930s , according to an analysis by the Pew Research Center with data from the United States Census Bureau.

The obvious cause was the loss of job or decrease in income that the pandemic brought with it. According to the source, at the end of July the total number of young adults who lived with one of their parents or with both grew to 26.6 million , which meant an increase of 2.6 million compared to February , just before the devastating impact of the pandemic in the world’s

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18,000 elderly people have died of COVID-19 in British care homes and now Boris Johnson’s government is being accused of human rights abuse



a man and a woman standing in front of a mirror: Care worker Sarah Cox helps fix care home resident, Patricia Taylor's hair on May 6, 2020 in Borehamwood, England Getty


© Getty
Care worker Sarah Cox helps fix care home resident, Patricia Taylor’s hair on May 6, 2020 in Borehamwood, England Getty

  • The death of thousands of COVID-19 in British care homes was a violation of their human rights, according to Amnesty International.
  • The human rights organization has now called for the public inquiry, promised by the government in July, to begin immediately. 
  • The report also raised particular concerns about the inappropriate use of “do not attempt resuscitation” (DNAR) orders issued on a blanket basis in care homes.
  • Visit Business Insider’s homepage for more stories.

More than 18,000 untested elderly people died of COVID-19 in British care homes in what a damning new report from Amnesty International has described as a violation of their human rights.

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Between March and June, over 28,116 “excess deaths” were recorded in care homes in England, with 18,500 of them confirmed to have

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What Will Happen To Commercial Real Estate As More People Work From Home? : NPR

The coronavirus pandemic forced many people to work from home. NPR looks into what remote work from home could mean for commercial real estate.



AUDIE CORNISH, HOST:

People are going out less and working from home more because of the coronavirus pandemic. But what will happen to all the office buildings and retail space that depend on people leaving their homes and going to work? Stacey Vanek Smith and Cardiff Garcia from our daily economics podcast The Indicator From Planet Money look into what working from home could mean for commercial real estate.

(SOUNDBITE OF ARCHIVED NPR BROADCAST)

CARDIFF GARCIA: Steve Rappaport has been in the commercial real estate business in Manhattan for 15 years. And he says it is not for the faint of heart.

STACEY VANEK SMITH: You have to hustle for everything.

STEVE RAPPAPORT: Yep, so no deals, no commission.

VANEK SMITH: And, of course, it’s not

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Ex-Zillow CEO Spencer Rascoff jumps back into real estate, launches startup with former colleagues to help people buy second homes

Former Zillow Group CEO Spencer Rascoff and dotloop founder Austin Allison are teaming up on a new startup called Pacaso that aims to make it easier for more people to own a vacation home.



Spencer Rascoff, Austin Allison standing in front of a window: Former Zillow CEO Spencer Rascoff (left) and dotloop founder Austin Allison are teaming up on Pacaso, a new startup that helps people buy second homes. (Pacaso Photos)


© Provided by Geekwire
Former Zillow CEO Spencer Rascoff (left) and dotloop founder Austin Allison are teaming up on Pacaso, a new startup that helps people buy second homes. (Pacaso Photos)

“This is an entirely new category of second home ownership,” said Allison, who sold his real estate startup to Zillow in 2015.

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The company came out of stealth mode today, announcing a $17 million seed round led by Seattle venture capital firm Maveron, with participation from Crosscut, Global Founders Capital, and individual investors such as former Starbucks CEO Howard Schultz, real estate coach Tom Ferry, former Zillow executive Greg Schwartz, and Amazon CEO of Consumer Worldwide Jeff Wilke. Pacaso also raised $250 million

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Ex-Zillow leaders including Spencer Rascoff launch startup to change how people buy second homes

Former Zillow CEO Spencer Rascoff (left) and dotloop founder Austin Allison are teaming up on Pacaso, a new startup that helps people buy second homes. (Pacaso Photos)

Former longtime Zillow Group CEO Spencer Rascoff and dotloop founder Austin Allison are teaming up to “democratize” second home ownership.

Rascoff and Allison, who sold his real estate startup to Zillow in 2015, are behind a new startup called Pacaso that aims to make it easier for more people to own a vacation home.

“This is an entirely new category of second home ownership,” Allison said in an interview with GeekWire on Wednesday.

The company came out of stealth mode today, announcing a $17 million seed round led by Maveron, with participation from Crosscut, Global Founders Capital, and individual investors such as former Starbucks CEO Howard Schultz, real estate coach Tom Ferry, former Zillow executive Greg Schwartz, and Amazon CEO of Consumer Worldwide

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Bay Briefing: Glass Fire forces 68,000 people from their homes

Good morning, Bay Area. It’s Tuesday, Sept. 29, and yes, there is actually a presidential debate this evening. Here’s what you need to know to start your day.

A familiar pattern

A chaotic wildfire that has already burned dozens of homes, destroyed wineries and forced about 68,000 people to evacuate continued to burn across Wine Country overnight.

Three wildfires that broke out on the east and west sides of St. Helena on Sunday spread quickly through extremely dry grasslands and merged into the Glass Fire by Monday morning. The fire has charred more than 36,000 acres and was not contained at all as of Monday afternoon. The city of Calistoga is now under a mandatory evacuation order and Santa Rosa City Schools have canceled all online classes through Wednesday.

Read more here and follow the live updates here.

More:

• Here’s what we know about the Bay Area’s latest wildfire.

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New California law prioritizes people over corporate home-buyers

By DON THOMPSON | The Associated Press

SACRAMENTO — Tenants, affordable housing groups and local governments will get first crack at buying foreclosed homes under a measure approved Monday by Gov. Gavin Newsom.

The bill is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession. The issue drew national attention a year ago when several homeless mothers calling themselves Moms 4 Housing moved into a vacant, corporate-owned house in West Oakland.

It was among 15 bills Newsom signed into law as renters and home-buyers again struggle during mass layoffs prompted by the pandemic. The governor said the measures “will directly lead to more affordable opportunities for renters and homeowners.”

The law bars sellers of foreclosed homes from bundling them at auction for sale to a single buyer. In addition, it will allow tenants, families, local governments, affordable housing

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California law prioritizes people over corporate home-buyers

SACRAMENTO, Calif. (AP) — Tenants, affordable housing groups and local governments will get first crack at buying foreclosed homes under a measure approved Monday by Gov. Gavin Newsom.



FILE - In this Jan. 7, 2020, file photo, men hold up signs at a rally outside of City Hall in Oakland, Calif., in support of more housing. Tenants, affordable housing groups and local governments will soon get first crack at buying foreclosed homes in California. A bill approved Monday, Sept. 28, 2020, by Gov. Gavin Newsom is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession. (AP Photo/Jeff Chiu, File)


© Provided by Associated Press
FILE – In this Jan. 7, 2020, file photo, men hold up signs at a rally outside of City Hall in Oakland, Calif., in support of more housing. Tenants, affordable housing groups and local governments will soon get first crack at buying foreclosed homes in California. A bill approved Monday, Sept. 28, 2020, by Gov. Gavin Newsom is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession. (AP Photo/Jeff Chiu, File)

The bill is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession. The issue drew national attention a year ago when several

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California Law Prioritizes People Over Corporate Home-Buyers | California News

By DON THOMPSON, Associated Press

SACRAMENTO, Calif. (AP) — Tenants, affordable housing groups and local governments will get first crack at buying foreclosed homes under a measure approved Monday by Gov. Gavin Newsom.

The bill is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession. The issue drew national attention a year ago when several homeless mothers calling themselves Moms 4 Housing moved into a vacant, corporate-owned house in West Oakland.

It was among 15 bills Newsom signed into law as renters and home-buyers again struggle during mass layoffs prompted by the pandemic. The governor said the measures “will directly lead to more affordable opportunities for renters and homeowners.”

The law bars sellers of foreclosed homes from bundling them at auction for sale to a single buyer. In addition, it will allow tenants, families, local governments, affordable housing

Read More Read more