On Thursday January 10th, the mortgage industry braced for rulings from the United State’s newest federal agency related to home lending, the Consumer Financial Protection Bureau (CFPB). In his opening statement announcing the newest rules, CFPB’s Director, Richard Cordray said "Today, we’re issuing one of our most important rules to date, the Ability-to-Repay rule.
Housing cost burden identified as most pressing housing need in South Burlington
An estimated 1,000 households living in South Burlington pay more than half of their incomes for housing, according to VHFA’s recently completed housing needs assessment for the City of South Burlington. Nearly 600 of these households are renter households, while the other 400 households own their homes.