Mortgages
The Homebuyers Assistance Act, which received bipartisan support in the House, clearly defines the “hold harmless” period of TILA-RESPA Integrated Disclosure to end on Feb. 1, 2016. There’s already a nebulous, undefined grace period in the recently implemented Consumer Financial Protection Bureau law, but Congress wants to give lenders a definite “safe harbor” period for…
On Oct. 3, the Consumer Financial Protection Bureau’s “Know Before You Owe” rules will go into effect. This has made some real estate agents a little nervous. How can they avoid delays? How can they manage their clients expectations? We wanted to get the low-down on how the new rules will affect closings, so we…
Every homebuyer faces a few hurdles along the way, but first-time buyers seem to have the most. Their inexperience, combined with a crowded market and sometimes time-consuming mortgage process, can make homebuying significantly more difficult for these new buyers. Fortunately, if you’re a first-time homebuyer, the process can go smoothly. Simply study up on the…
By Jon Anderson Columnist No, I didn’t dig this out of my 2008 file drawer. According to RealtyTrac, March 2015 saw an 11 percent jump in foreclosures across the U.S. compared to February. That translates into 152,147 homes rocketing down the chute to foreclosure and the loss of people’s homes in the first quarter of…
Getting a home loan can be a challenge for self-employed people: A typical mortgage lender wants to see one job with steady month-over-month income. But an independent contractor might have time off between jobs, varying amounts of income each pay period, and business income that looks low because of capital investments, which are common tax write-offs…
