Latest news with #mortgageloans
Entrepreneur
5 days ago
- Business
- Entrepreneur
Ummeed Housing Finance Raises INR 250 Cr from BII to Boost Affordable Housing
The Gurugram‑based housing finance company will deploy the capital as mortgage‑backed loans targeted at low‑income and underserved borrowers across India, with a significant focus on enabling women to become homeowners. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Ummeed Housing Finance Private Limited has raised INR 250 crores from British International Investment, the United Kingdom's development finance institution and impact investor. The Gurugram‑based housing finance company will deploy the capital as mortgage‑backed loans targeted at low‑income and underserved borrowers across India, with a significant focus on enabling women to become homeowners. The funding will be channelled into long‑tenure, affordable housing loans designed to increase property ownership and strengthen financial inclusion in urban and semi‑urban areas. According to the company, these loans will help address a critical financing gap for groups that often lack access to formal credit. Ashutosh Sharma, Founder and Managing Director of Ummeed Housing Finance, said, "It is a proud moment for us to be associated with British International Investment. This BII facility will help us drive the development agenda, leading to the improvement in the quality of life for borrowers and co-borrowers in the low- and middle-income strata of the society." Founded by Ashutosh Sharma, Ummeed Housing Finance offers home loans, business loans, and loans against property, primarily for lower and middle‑income families. Operating under the regulatory framework of the Reserve Bank of India and the National Housing Bank, the company has expanded to over 130 hubs in 9 states. Its services cater to customers with informal incomes, simplifying the mortgage process and reducing loan turnaround times. Since inception, the company has served more than 33,000 customers and has assets under management exceeding INR 2,400 crores. This new investment is expected to benefit up to 3,000 women through property ownership and financial empowerment. It also qualifies as a 2X investment under a global initiative to promote women's economic participation. Shilpa Kumar, Managing Director and Head of India, British International Investment, commented, "Having an affordable and safe home can lay the foundation for underserved families to access better economic opportunities and improve their livelihoods. By increasing access to housing finance through Ummeed, we are helping more women to build their financial resilience. It is in line with the Government's vision of facilitating Housing for All and we ensure the support reaches those who need it the most." With this capital infusion, Ummeed aims to strengthen its role in expanding affordable housing access and promoting inclusive growth in India.
Yahoo
30-07-2025
- Business
- Yahoo
ACRES COMMERCIAL REALTY CORP. REPORTS RESULTS FOR SECOND QUARTER 2025
UNIONDALE, N.Y., July 30, 2025 /PRNewswire/ -- ACRES Commercial Realty Corp. (NYSE: ACR) ("ACR" or the "Company"), a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate mortgage loans and equity investments in commercial real estate property through direct ownership and joint ventures, today reported results for the quarter ended June 30, 2025. ACR's GAAP net loss allocable to common shares was $732,000 or $(0.10) per share-diluted, for the quarter ended June 30, 2025. "The ACRES origination team is actively developing a pipeline of new loan opportunities. During the second half of the year, we expect to grow our portfolio by investing in high-quality properties nationwide. At the same time, we will continue to ensure that the assets in our portfolio are actively managed towards successful pay offs," said Mark Fogel, President and Chief Executive Officer of ACRES Commercial Realty Corp. ACR issued a full, detailed presentation of its results for the quarter ended June 30, 2025 that can be viewed at Earnings Call Details ACR will host a live conference call on July 31, 2025 at 10:00 a.m. Eastern Time to discuss its second quarter 2025 operating results. The conference call can be accessed by dialing 1-800-267-6316 (U.S. domestic) or 1-203-518-9783 (International), Conference ID ACRES or from the investor relations section of the Company's website at For those unable to listen to the live conference call, a replay will be available on the Company's website and telephonically through August 14, 2025 by dialing 1-844-512-2921 (U.S. domestic) or 1-412-317-6671 (International), with the passcode 11159174. About ACRES Commercial Realty Corp. ACRES Commercial Realty Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate mortgage loans and equity investments in commercial real estate properties through direct ownership and joint ventures. The Company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender exclusively dedicated to nationwide middle market commercial real estate lending with a focus on multifamily, student housing, hospitality, industrial and office property in top U.S. markets. For more information, please visit the Company's website at or contact investor relations at IR@ Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "continue," "expect," "intend," "anticipate," "estimate," "believe," "look forward" or other similar words or terms. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. Factors that can affect future results are discussed in the documents filed by the Company from time to time with the Securities and Exchange Commission, including, without limitation, factors impacting whether we will be able to maintain our sources of liquidity and whether we will be able to identify sufficient suitable investments to increase our originations. The Company undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law. View original content to download multimedia: SOURCE ACRES Commercial Realty Corp. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-07-2025
- Business
- Yahoo
Selling your home at a loss? Everything you need to know before you list.
During the pandemic-era housing boom, bidding wars and over-asking-price offers became the norm. However, some buyers may face a tough reality today: They need to sell — but at a loss. Whether you're facing a job change, financial hardship, or another one of life's twists and turns, taking a hit when selling your home is never ideal. However, it's not the end of the world, and you may have options that put you ahead financially. Read more: The best mortgage lenders for bad credit scores In this article: Reasons for selling a house at a loss How to know if you're actually taking a loss Options if you're facing a loss When it might make sense to sell at a loss Tax implications to note FAQs Reasons for selling a house at a loss Not every home sale ends in profit, especially if you haven't owned your home for very long. Even in a strong housing market — like the one we're in today — it's possible to walk away with less than you put in for several reasons. You lack equity If you bought your home with a low down payment using mortgages like VA loans or FHA loans, you didn't have much equity in your house to begin with. And in the early years of homeownership, most of your early mortgage payments go toward interest rather than paying down the principal. Selling in the first few years means you likely won't have built up much equity, and selling costs can easily wipe out what little you have. Your local housing market has cooled off Home values don't rise evenly throughout the country. If prices in your area have stalled or dipped while prices in other regions have continued to rise, your home might sell for less than you paid — especially if inventory has increased, buyer demand has slowed, or there's some other reason for depreciation. Life changes force a move Sometimes the decision to sell isn't about money; it's about necessity. A new job, growing family, unexpected expense, or divorce with a co-owner of the house can create pressure to sell before you're financially ready. Selling costs add up Between commissions, closing costs, and other expenses, selling a house often costs 6% to 10% of the sale price. Those fees alone can quickly turn a small gain into a net loss. How to know if you're actually taking a loss It's easy to assume you're losing money on your home if it sells for less than you paid. However, that's not the whole story. To really know where you stand, you'll need to do a little math and factor in a variety of costs. Your purchase price: This includes what you paid for the home, plus the cost of any upgrades or improvements you made while living there. Your current mortgage balance: Your remaining loan balance may be more than you expect, especially if you haven't owned the home very long. Estimated selling price: This is what a buyer is willing to pay in your current market, not necessarily what you'd like to get. Agent commissions: A typical real estate commission for sellers is 6%, as sellers have historically covered both the seller's and buyer's shares (or 3% each). Now, sellers aren't necessarily required to pay buyers' agent fees, so depending on your situation, you could find yourself paying roughly 3% to 6%. Closing costs: These can include, but aren't limited to, the title search, escrow fees, and real estate attorney fees. Repairs and prep work: From painting and cleaning to various other home improvements you pay for before listing the home, don't forget to include these costs in your total expenses. Dig deeper: How much does it cost to sell your house? A real-world example Let's say you bought a home in 2021 for $460,000 and put 5% down ($23,000). From the get-go, your mortgage loan balance is $437,000, and you start making monthly payments toward the principal and interest. Now, you're the new caregiver for your aging parents and need a bigger home. Your real estate agent says the best asking price you can get on your current house is $445,000, and you still owe $420,000 on your mortgage. You pay a 3% agent commission (~$13,350), $6,500 in closing costs, and another $2,000 to get the house ready for sale. Here's how it all breaks down: So, even though you sold your home for $15,000 less than you paid, your final loss on the transaction is $3,150 — not counting your original down payment and the mortgage payments you made along the way, which helped you gain equity in the home along the way. Up Next Up Next Options if you're facing a loss If the math shows you're selling your house at a loss, you still have choices. Some may help you avoid selling altogether, while others can help you strategically cut your losses. Stay put and ride it out If you're not in a rush to move, holding onto your home for a few more years could help you build equity and recover value. You could also save significantly if you locked in a lower mortgage rate when you bought the house than those available today, making your current payment more affordable than one you might get on a new home. Rent it out Becoming a landlord isn't for everyone, but depending on your local real estate market, it could be a highly profitable move. 'Some would-be sellers simply can't believe what their units would rent for when I tell them,' said Mark Zipperer, owner and broker with The Zipp Group in Chicago, in a phone interview. Rental income could more than cover your current mortgage and still let you make the housing move you want, especially if you live in a major metropolitan area where competition for rentals is fierce. 'Here in Chicago, we're doing open houses for rentals and getting upwards of 20 applications per unit,' said Zipperer. 'Prospective renters are even bidding up the rental price in hopes of being selected for the unit.' While Chicago's market might not reflect yours, there's no harm in checking into what your unit would rent for. If you decide to go the landlord route, Zipperer also advised getting up to speed on local rental ordinances so you're legally protected. You can also work with a property management company if you'd prefer someone else to handle the day-to-day details and legalese on the rental side. Consider a short sale If you owe more than your home is worth, you may be able to negotiate a short sale with your mortgage lender. With a short sale, your home sells for less than the mortgage balance, and the lender agrees to forgive the difference. Short sales typically require that you be behind on your mortgage payments and require lender approval. This move can also impact your credit — a consideration if you're looking to short sell and then buy another home. Bring cash to closing If you're close to breaking even, you could bring money to the closing table to cover the gap. It's not ideal, but it might prove a good strategy if selling will free you up to make a better financial decision elsewhere, such as relocating for a better job. When it might make sense to sell at a loss In some cases, taking a loss isn't a sign of financial defeat — it's a strategic move. Here are times to consider selling your house at a loss. You're struggling with monthly expenses. Selling a home you can't comfortably afford may hurt now, but it could help you get back on firm financial footing sooner. You're relocating for a better opportunity. A higher-paying job, lower living costs, or being closer to family may all justify the short-term loss. You're facing changing household needs. A growing family, aging parents, or accessibility needs might mean your current home no longer fits. It brings you peace of mind. Shedding an asset that feels like a burden could lighten your financial burden and spirits. Dig deeper: Do you have home buyer's remorse? Here's what to do next. Tax implications to note If you're thinking, 'Oh, I'll just write the loss from selling my home off on my taxes,' think again. In most cases, the IRS doesn't allow you to deduct a capital loss on the sale of your primary residence on your federal taxes. However, if the home you want to sell was used as a business or rental property rather than a personal residence, it's treated differently by the IRS. Losses in those cases may be deductible depending on your tax situation. To be safe, consult a licensed tax professional. Read more: Capital gains tax — How much you'll pay when you sell a home Selling a house at a loss FAQs What happens if you sell a home for a loss? If you sell a home for less than your remaining mortgage balance and sale costs, you'll need to cover the difference out of pocket. This is considered a financial loss, but it won't impact your taxes unless the home was a rental or investment property. If you're behind on payments, a mortgage lender may agree to a short sale; however, this can negatively impact your credit. Can I write off a loss on my house? Generally, no. The IRS does not allow you to deduct a loss from the sale of your primary residence because it's considered personal-use property. However, if the home was used as a rental or business property, a loss may be deductible under certain conditions. Always consult a tax professional to understand how the rules apply to your situation. Should I sell my house at a loss or rent it out? Renting your home could help you avoid selling it at a loss, especially if it covers your mortgage and other costs. However, being a landlord comes with its own responsibilities and risks. Be sure to speak with a real estate professional well-versed in rentals in your area before jumping into the rental market with your property. Note: The author has bought and sold property through Mark Zipperer. Laura Grace Tarpley edited this article.
CBS News
05-06-2025
- Business
- CBS News
More Americans getting spam calls after credit pulled for mortgage loan
No one likes getting spam phone calls, but they can be particularly bad for people looking to buy a home. CBS News Miami research director Bryan Dyke found this out firsthand. Over the last few weeks, he said he's been inundated with calls, texts and voicemails concerning home loans and insurance. "It makes it impossible to use your device," he said. Dyke said it started after he had already applied for a loan from a lender that his realtor had recommended. He said after he filled out the online application, his phone started blowing up with numbers other than his lender. "They started immediately within minutes. Less than five minutes," Dyke said. A survey by found that 74% of Americans said they've received unwanted calls, text messages, and email after their credit was pulled for a loan or insurance policy. "It is currently legal, and we're trying to make it illegal," Orlando Diaz, president of the Florida Association of Mortgage Professionals, said. Loan spam calls, texts are legal Diaz said Dyke's situation sounds like a practice called "trigger leads." That's where information people put on loan applications is sold by credit bureaus without their knowledge or consent. "Without the credit bureaus selling that information, there is no way that any marketing company or lenders would find out that they're applying for a loan with somebody else," Diaz said. Diaz wants Florida law to ban licensed mortgage lenders in Florida from using information obtained from a credit bureau, unless they have a previous existing business relationship. He also would like Congress to ban the practice of selling personal information, unless the consumer opts in. CBS News Miami reached out to each of the big three credit bureaus (Experian, Equifax and TransUnion), but they referred us to the Consumer Data Industry Association. While the CDIA declined an on-camera interview, their President and CEO Dan Smith did issue a statement. "Mortgage lenders should not inundate consumers with unwanted telephone solicitations. We believe that the U.S. Congress is best positioned to address the root cause - telephone calls - while maintaining a competitive market that allows consumers to shop for a better deal," Smith said. Getting the calls, texts to stop can be a challenge Stefania Mogollon, a Miami realtor, said she gets these calls too, but they aren't offering her a loan. "I'm being bombarded by the same people trying to sell me their information so I can do business with them," Mogollon said. Dyke said he tried his lender's opt-out method to stop getting these calls, but it really didn't help. "It hasn't done anything for me. It's two weeks later. The calls have slowed but I'm still getting 10-15 calls a day," he said. Diaz says there are several ways you can opt out of getting these calls before applying for a mortgage. The Consumer Data Industry Association says there's an opt-out link for having your personal info sold for solicitation. Click here to sign up for the National Do Not Call Registry.
