HUD Announces Additional Homeowner Relief Measures

first_imgHome / Daily Dose / HUD Announces Additional Homeowner Relief Measures Share 1Save HUD Announces Additional Homeowner Relief Measures April 2, 2020 3,204 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Tagged with: Coronavirus HUD Mortgage Forbearance Previous: DS5: How Law Firms Are Assisting With Loss Mitigation Next: Increase in Jobless Claims Leading to ‘Unknown Territory’ Sign up for DS News Daily About Author: Mike Albanese The U.S. Department of Housing and Urban Development (HUD) announced a tailored set of mortgage relief options for homeowners with FHA-insured mortgages who have been impacted by COVID-19. HUD states, effective immediately for those who cannot make mortgage payments due to the virus, servicers must extend deferred or reduced mortgage payment options for up to six and also provide an additional six months of forbearance if requested by the borrower. This measure implements provisions contained in the CAREs Act signed by President Donald Trump on March 27. “The last thing any of us wants is for Americans to lose their homes unnecessarily while we continue to fight this invisible enemy. If you’re struggling, immediate help is now available. The FHA will continue to work with stakeholders to ensure that the loss mitigation options that are offered for both forward and reverse borrowers are appropriately tailored for the present situation,” said Dr. Benjamin Carson, Secretary of HUD. Additionally, the FHA implemented the COVID-19 National Emergency Partial Claim, an option to be used by servicers when the COVID-19 forbearance period ends. This will help eligible homeowners who have been granted forbearance to reinstate their loans by authorizing servicers to advance funds on behalf of homeowners. This claim will defer the repayment of those advances through an interest-free “subordinate mortgage” that the borrower does not have to pay until their first mortgage is paid off. “For American families impacted by the COVID-19 virus and unable to pay their FHA-insured mortgage, imminently losing their homes is now one less fear they should have,” said Assistant Secretary for Housing and Federal Housing Commissioner Brian Montgomery. “Today’s actions will ease the immediate pressures faced by many Americans who, through no fault of their own, are struggling with financial uncertainty.” A recent study by the Harvard Joint Center for Housing Studies (JCHS) found that 13 million Americans are at risk of losing their jobs due to the virus. “The loss of service jobs would undoubtedly worsen affordability for households who already must spend an outsized portion of their incomes on rent each month,” Whitney Airgood-Obrycki, Research Associate, JCHS said.Forty percent of households (5.2 million) whose wages came exclusively from at-risk jobs were cost-burdened as compared to 22% of households (13.1 million) whose income came only from other jobs. Subscribe Demand Propels Home Prices Upward 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Coronavirus HUD Mortgage Forbearance 2020-04-02 Mike Albanese Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

SEAS grad Pratheev Sreetharan named top innovator

first_imgPratheev Sreetharan ’06, Ph.D. ’12, a pioneer in pop-up robotics, has been recognized by Technology Review magazine as among the world’s top innovators under the age of 35.A panel of expert judges and the editorial staff of Technology Review, published by MIT, selected him from more than 300 nominees.Sreetharan recently graduated with a doctorate in applied physics from the Harvard School of Engineering and Applied Sciences (SEAS). He also holds an undergraduate degree in physics from Harvard College.The founder and CTO at Vibrant Research worked in the Harvard Microrobotics Laboratory directed by Robert Wood, Charles River Professor of Engineering and Applied Sciences at SEAS, who himself was named a TR35 innovator in 2009.Sreetharan was honored for his co-development of a novel technique inspired by elegant pop-up books and origami that enables clones of robotic insects to be mass-produced by the sheet.In addition, he played a crucial role in the creation of a millionth-scale differential to govern the flight of minuscule aerial robots that could someday be used to probe environmental hazards, forest fires, and other places too perilous for people.Sreetharan and the other TR35 winners for 2012 will be featured in the September issue of Technology Review magazine and honored at the 2012 Emerging Technologies Conference, called EmTech, to be held at MIT in Cambridge, Mass., on October 24–25. Read Full Storylast_img read more

Local mall invaded by two thieves

first_imgOfficers with the Fort St. John RCMP are looking for the public’s assistance in locating whoever broke into a local business Monday morning.- Advertisement -An investigation has found that the two thieves got into the Totem Mall by breaking a window on the east side of the building. The culprits then broke another window at an undisclosed clothing store inside the mall.Police say the suspects took an undetermined amount of money ‘or’ clothing.The Police Dog Services unit was called to the scene, and discovered that the suspects fled the scene through a rear exit door. Witnesses also report seeing a blue car speeding through the parking lot around the time of the burglary, though it has not been located by police.Officers are now turning to the public for help in locating the thieves. Anyone with information on this crime is urged to contact the Fort St. John RCMP at 250-787-8140, or to call Crime Stoppers at 1-800-222-8477.Advertisement By stafflast_img read more

Chelsea v Man City: Costa back, Terry out

first_imgChelsea make a number of changes for the game against Manchester City at Stamford Bridge, with Diego Costa and keeper Thibaut Courtois among those coming back into the starting line-up.Costa is available again after suspension and leads the attack, while Willian also returns to the side. Skipper John Terry is out.City, meanwhile, are without Vincent Kompany and Raheem Sterling. Kevin De Bruyne plays against his former club.Chelsea: Courtois; Azpilicueta, Cahill, Ivanovic, Baba Rahman; Mikel, Fabregas; Willian, Loftus-Cheek, Pedro; Costa.Subs: Begovic, Miazga, Matic, Kenedy, Traore, Pato, Falcao.Man City: Hart; Zabaleta, Mangala, Otamendi, Kolarov, Fernandinho, Toure, Navas, De Bruyne, Nasri, Aguero.Subs: Caballero, Sagna, Demichelis, Fernando, Delph, Bony, Kelechi.Follow West London Sport on TwitterFind us on Facebooklast_img read more

Remarkable South African women hailed

first_imgRay Maota Pinky Moholi, newly appointed group chief executive of Telkom, said women should use their innate characteristics as women to make the world a better place. (Image: Telkom) Lauren Beukes is one of the women included in the book and her book,Zoo City, recently won the prestigious Arthur C Clarke Award. (Image: The British Science Fiction Association) MEDIA CONTACTS • The Mail & Guardian  +27 11 250 7300 RELATED ARTICLES • New CEO to move Telkom forward • Local author gets top sci-fi award • South African women leaders unite for change • South African women marine pilots make historyAs the nation celebrates the triumphs of South African women during August, known as Women’s Month, the Mail & Guardian newspaper has joined in with the release of its Book of South African Women.The Mail & Guardian Book of South African Women is an annual publication that celebrates the accomplishments of 100 newsworthy women. It was launched in 2008 and the selection is wholly nominated by the public but the final 100 is chosen by the editorial board.The result is a mixture of well-established industry personalities and future industry leaders.The women were chosen in categories ranging from arts, business, civil society, environment and media, to politics, science and technology, health, education and sport.Nic Dawes, editor–in-chief of the Mail & Guardian, said: “This is not a directory of the most influential women in the country, although certainly many of those represented occupy positions of considerable power. Instead it is an annual effort to discover and represent people who are doing transformative work.”He added that 80% of those featured are making their debut in the book, that many of them are young, and perhaps less well known. But this doesn’t mean that they are any less worthy of recognition, said Dawes, than the female icons who can’t be left out of any such list.The sponsor of the publication is banking group Nedbank.Abe Thebyane, group executive at Nedbank, said: “The 2011 Mail & Guardian Book of South African Women profiles some of our country’s most inspirational women. They come from dissimilar backgrounds, and the work they do is across different sectors and in disparate disciplines.”He said that one thing all those featured had in common is that they are all driving change in the country.“In this they share courage, resolve, vision and a fundamental belief that our country and our world can be transformed for good.”Women making wavesThe Book of South African Women has profiled a diverse group who are making waves in different sectors of society.The list of women include: author, director and performance artist Gcina Mhlophe; Pinky Moholi, newly appointed group chief executive of Telkom; trauma and rape councillor Morgan Anne Mitchell; Rachel Classen, headmistress at Hillwood Primary; and Dr Inga Jacobs, global president of Young Water Professionals.Others are Professor Helen Rees, executive director at the Wits Reproductive Health and HIV Institute; journalist Redi Tlhabi; Gill Marcus, governor of South Africa’s reserve bank; Major Catherine Labuschagne, the world’s first female Gripen fighter jet pilot; and Caster Semenya,  former 800m world champion.“We have to use the characteristics that allow us women to open a door on to a more enlightened consciousness,” said Moholi, “and one that will allow humanity to invent a future that promotes the wellbeing of women.”Classen, who has taught in the violence-prone area of Lavender Hill in the Cape Flats for 35 years, said that she was a dedicated teacher, but also felt like a parent to many of her young charges, and this has kept her in the education sector for so many years.UCT well representedThe University of Cape Town can revel in pride at the inclusion of 15 of its graduates in the publication.They are:Lauren Beukes, author of Zoo City that recently won the prestigious Arthur C Clarke AwardProfessor Anusuya Chinsamy-Turan, author of Famous Dinosaurs of AfricaYoliswa Dwane, co-founder of Equal Education, a grassroots organisation based in the impoverished township of Khayelitsha in the Western CapeProfessor Jill Farrant, head of research in molecular physiology and plant desiccation tolerance at the University of Cape TownLara Foot, the first woman chief executive of the Baxter Theatre CentreZama Katamzi, researcher at the South African National Space AgencyTarisai Mchuchu-Ratshidi, director of the South African branch of Young in PrisonZolani Mahola, lead singer of popular afro-pop group FreshlygroundKirti Menon, registrar at Wits UniversityMorgan Ann Mitchell, of the UCT’s Law Clinic, helps rape and violence victimsNandipha Mntambo, the 2011 Standard Bank Young Artist for Visual ArtPinky Muholi of TelkomJoy Olivier, co-founder and executive director of IkamvaYouthDr Samantha Peterson, senior manager at the WWF for Sustainable Fisheries ProgrammeProfessor Karen Sliwa, director of the UCT Hatter Instituteand Helen Zille, premier of the Western Cape and leader of the Democratic Alliance.last_img read more

South Africa to Brics: we’re ready for you

first_imgRay Maota A group of journalists from other Brics countries are learning more about South Africa’s investment prospects and competitive advantages. (Image: Ray Maota) MEDIA CONTACTS • Brand South Africa  + 27 11 483 0122 RELATED ARTICLES • BRICS a boost to Brand South Africa • New slogan for Brand South Africa • South Africa is Africa’s top nation brand • Gallery: Brand South Africa in DavosSouth Africa is ready to establish itself as a competitive market for investment within the Brics network, while embarking on efforts to make its economy greener and harnessing a successful energy sector.These goals were revealed to a group of visiting journalists from the country’s Brics compatriots, namely Brazil, Russia, India and China by speakers from the departments of trade and industry (DTI) and environmental affairs, as well as business leaders, on 14 August in Pretoria.“Africa is now the second fastest growing region in the world economy after Asia,” said DTI director-general Lionel October.“The continent’s full potential will remain unfulfilled unless we address the challenges of inadequate infrastructure, the limitations imposed by small and fragmented markets, and inadequate diversification of industrial output, all of which are responsible for the low levels of intra-African trade.”South Africa’s competitive edgeAccording to its authors, who are key policy directors within the DTI, the 2012 Industrial Policy Action Plan shows how successful an industry policy can be if its design, resources and communication standards are kept in mind. It is the flagship project of the department for the next two years, defining its direction to attract foreign investments.“Our trade and competition policy is now more strategically aligned with industrial policy objectives,” explained October.He added that tariff-setting standards have improved in favour of better trading operations between South Africa and its trade partners, and campaigns against customs fraud and illegal imports are being scaled up.Not only is South Africa actively involved in the integration of the Southern African Development Community, but that is also the case in the East African Community, which includes countries like Kenya, Tanzania and Burundi. The Common Market for Eastern and Southern Africa is another platform where the country participates.“Our efforts in Africa, particularly in Southern Africa, to combine market integration, cross-border infrastructure development and policy coordination to advance regional industrial value chains, have met with some success,” said October.He further mentioned that South Africa’s involvement in the Brics alliance is a key element to the country’s global economic strategy, saying this can best be illustrated by explaining the three pillars on which its engagement strategy is based.These are the member countries’ policies on giving developing countries a greater voice in the global business landscape, strengthening intra-Brics cooperation, and South Africa’s intent to extend Brics’ cooperation in support of Africa’s development agenda.Greening South Africa’s economyGodfrey Nyakhulalini, deputy director for national greening at the Department of Environmental Affairs, spoke on the country’s aims with regard to establishing a green economy.“Our aim towards a green economy cannot be achieved by government alone so the private sector and civil society must play a fundamental role,” he said.Nyakhulalini said the National Treasury has allocated R800-million (US$97-million) over the next two years to South Africa’s Green Fund, which aims to provide finance for high-quality, high-impact, job-creating green economy projects around the country.Investment in South AfricaCandice Holland, associate director at auditing firm Deloitte South Africa, discussed the country’s readiness to draw investment to its shores.“South Africa aims to promote itself as a gateway to Africa, and so its taxation system follows a global best practice,” she said. “It also has a corporate tax rate of 28% which is slightly lower than other African countries.”She added that the country has, over the past couple of years, passed legislation that is protective of consumers and employees.Holland highlighted several acts in South Africa’s regulatory landscape which have been passed to encourage foreign investment, among them the Companies Act, Labour Relations Act, Broad-based Black Empowerment Act, Consumer Protection Act and the Competitions Act.“The Companies Act provides for more self-regulation and codifies South Africa’s constitution to make it easier to do business here,” said Holland.last_img read more

Xiaomi Redmi 7A announced: Key specs, possible price, India launch, and everything you need to know

first_imgAfter the Redmi Note 7, Redmi Note 7 Pro, Redmi Note 7S, Redmi Y3, Redmi Go and Redmi 7 Xiaomi has now announced a new Redmi phone. It is the entry-level Redmi 7A. As the name suggests the Redmi 7A is the successor to the last year’s Redmi 6A. It is worth noting that the Redmi 7A is currently official in China, Xiaomi’s home market. Considering Xiaomi’s past records, we expect the Redmi 7A to also head to India very soon. Launched last year the Redmi 6A has been the best selling smartphone under Rs 10,000 for quite a long time. The same is expected from the Redmi 7A.Considering the specs and features of the Redmi 7A it is possible that the phone is a much-upgraded version of the Redmi 6A. To recall, the Redmi 6A wasn’t a good looking one. The Redmi 6A looks like any other basic feature phone. But the good news is, that’s not the case with the Redmi 7A. With the Redmi 7A Xiaomi has brought some design elements to its entry-level lineup. With the Redmi 7A Xiaomi has brought some design elements to its entry-level lineup. The all-new Redmi 7A comes with a new design, slim bezels on the sides and funky colours like blue and black, which wasn’t the case with the Redmi 6A. Overall, the Redmi 7A is an improved version of the Redmi 6A in almost all aspects including design, processor, battery, cameras, among others. Let’s take a quick look at what the Redmi 7A brings to the consumers.advertisementRedmi 7A key specs:Display: The phone includes a 5.45-inch IPS LCD HD display and offers an aspect ratio of 18:9.Processor: The Redmi 7A is powered by Snapdragon 439 processor.RAM: Hasn’t been revealed yet.Storage: Hasn’t been revealed yet.Software: The phone runs MIUI 10 based on Android 9 Pie.Battery: Similar to the Redmi Note 7 series, Redmi 7 and Redmi Y3 the all-new Redmi 7A also comes packed with 4000mAh battery.Rear camera: The Redmi 7A sports a 13MP AI based camera on the back panel.Front camera: On the front, the phone includes a 5MP selfie shooter. The camera comes with lots of AI.Redmi 7A features: –Unlike the Redmi 6A the Redmi 7A is powered by Snapdragon processor. To recall, the Redmi 6A comes with a MediaTek Helio A22 SoC. In comparison, the Redmi 7A is powered by Qualcomm Snapdragon 439 processor.–The phone comes with micro USB support.–Despite being an entry-level phone the Redmi 7A comes with face unlock support.–The phone doesn’t include a fingerprint sensor to unlock the phone. To recall, similar was the case with the Redmi 6A.–The biggest highlight of the Redmi 7A is its battery. The phone comes with 4000mAh battery similar to all the latest Redmi phones like the Redmi Note 7 series, Redmi Y3, Redmi 7, among others.–Both the front and back camera of the Redmi 7A includes lots of AI features like AI Beauty camera, AI Background Blur, among others.–The phone runs on MIUI 10 based Android 9 Pie.–The Redmi 7A comes packed with microSD card support plus two SIM card trays.Redmi 7A price and availabilityNotably, the Redmi 7A price hasn’t been announced yet. The price of the Redmi 7A will be officially revealed by the company on May 28 at an event where the company will also launch the most awaited Redmi K20 series of phones. At the same launch event Xiaomi sub-brand Redmi will announce the availability of the Redmi 7A. Considering the Redmi 4A, Redmi 5A, Redmi 6A — all the entry-level Redmi phones made their way to India, we expect the Redmi 7A to also hit the Indian shores very soon. We believe, similar to all other entry levels Redmi A series phones, the Redmi 7A will also be priced between Rs 6000 and Rs 7000. The Redmi 6A sells for Rs 5,999 in India right now.last_img read more