Truth in Lending RESPA changes August 1, 2015

Per Inman Reports article by Bernice Ross (attached), the landscape of doing Real Estate transactions changes again on August 1, 2015! The Buyers ability to produce accurate financial records and the Lenders ability to communicate this in a timely manner will make this a non-issue for most, but it makes the tolerance for error to become very…

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Appraisals : a fail safe in the Buyers process

I just represented a client on a house in Anderson which we had under contract, inspected and then it fell apart because of a “short” appraisal. They call it short because it came in under or short of the contracted purchase price. The house was a renovated ranch in an area of renovated ranches. It…

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Cut FHA PMI- Housing policy going in wrong direction

  Stories like this make people who don’t own property happy. It should make people who own property nervous. Why? The economic tool used to allow people with less than 20% down payment to buy a house is called PMI, private mortgage insurance. The insurance policy is property specific and it is in place until…

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