Yup, starts tomorrow, folks. Effective July 30, 2009, if the APR on an initial Good Faith Estimate is no longer accurate (within a 0.125% range) at close of escrow, a lender must generally provide a residential borrower with a new disclosure and a three-day right to rescind before consummating the loan. REALTORS® are forewarned that, [...]
Indeed…sometimes, there’s just TOO much truth in advertising. (note: this pic has made its way across many RE blogs, so props to whoever it was that found it first)
It's back! Yes, yes, I know, I know…what the heck happened to the Gory Details podcast? Have I been in hiding, waiting for the California budget crisis to get resolved? And of course, if you've been following some of my blog posts on how a big chunk of the market is just crazy with bidding [...]
Because the FHA loan is becoming more and more popular in today’s changed market, I’m presenting a quick little article, courtesy of Brandon over at MortgageLoanPlace. So, first off, the FHA (Federal Housing Administration) does not loan a home buyer money; it insures the loan. This means that if the borrower is unable to [...]
So there’s this new law affecting the real estate and mortgage industry, called the HVCC – short for “Home Valuation Code of Conduct”, which went into effect last month, and is the byproduct of a legal settlement between NY attorney general Andrew Cuomo and Fannie Mae & Freddie Mac. Here’s how it was “supposed” to [...]
Anyone trying to buy a home in San Jose, roughly around the $200-230K price range, knows this and knows it well. The word “foreclosure” on a listing almost guarantees double-digit multiple offers. And not low-value double digit numbers like 10 or 11. Pfft! Child's play! In the last week, while pursuing homes for some of [...]
Realtor, Marathon Man, "Man of a Thousand Voices".
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