Tesla has allegedly canceled future Cybertruck orders for a current owner of the pickup who was trying to resell it in the used-car market, according to a post in an online forum.
Ford Motor will pay $365 million to resolve U.S. allegations it violated a federal tariff law by misclassifying and understating the value of hundreds of thousands of its Transit Connect vehicles.
By GAETANE LEWIS (Associated Press)
NEW YORK (AP) — Airbnb said Monday that it’s banning the use of indoor security cameras in listings on its site around the world by the end of next month.
The San Francisco-based online rental platform said it is seeking to “simplify” its security-camera policy while prioritizing privacy.
“These changes were made in consultation with our guests, Hosts and privacy experts, and we’ll continue to seek feedback to help ensure our policies work for our global community,” Juniper Downs, Airbnb’s head of community policy and partnerships, said in a prepared statement.
Airbnb had allowed the use of indoor security cameras in common areas, as long as the locations of the cameras were disclosed on the listings page. Under the new policy, hosts will still be allowed to use doorbell cameras and noise-decibel monitors, which are only allowed in common spaces, as long as the location and presence of the devices are disclosed.
Airbnb expects the policy update to impact a small number of hosts because the majority of its listings do not report having indoor security cameras.
By Elizabeth Renter | NerdWallet
In the last quarter of 2023, home sales were few and far between as high prices, high rates, low inventory and seasonal factors all combined to make the housing market a bit of a ghost town. Would-be first-time buyers no doubt felt the desolation.
Homes were listed at nearly five times the potential first-time buyer income in the fourth quarter, on average across the country. Prices fell slightly from the previous quarter, as is common in the final months of the year. Bucking seasonal trends, inventory rose 9% from the third to the fourth quarter, reaching a level not seen since late 2020. But mortgage rates peaked in late October, hitting about 7.8% for the 30-year fixed, an over-two-decade high, before trending downward through the holidays.
First-time buyers have to contend with unique challenges no matter the market. They are generally earlier in life and career than repeat buyers, and they lack the wealth associated with equity that existing homeowners can draw upon.
For borrowers in a still-hot housing market, getting approved for a mortgage can be a challenge. Mortgage rates have soared from pandemic-era lows, home values are near record highs and home price appreciation is outpacing wage growth.
All of that means there’s no guarantee a lender will approve your mortgage application. Here’s a look at how lenders decide to extend credit, and some common obstacles borrowers face.
Mortgage underwriting is the process of verifying and analyzing the financial information you provide your lender — all with the goal of giving you an answer of yes, no or maybe. As part of the application, you produce bank statements, W-2s and other tax documents, recent pay stubs and any additional documentation the lender requires or requests.
Dispense with any stereotypes about the old days of lending or the movie It’s A Wonderful Life, when a banker determined your creditworthiness by the firmness of your handshake and the crispness of your shirt. In most cases, a loan officer or mortgage broker will collect your information and submit it to an underwriting software system — Desktop Underwriter for a loan that will be sold to Fannie Mae, Loan Product Advisor for Freddie Mac.