Friday, June 12, 2015
Tuesday, May 19, 2015
Spring Cleaning Your Finances
Wednesday, May 6, 2015
Explore Georgia Homes - Kiersten Howe: 3850 Heartleaf Drive NW Acworth, GA 30101 - Kierst...
Explore Georgia Homes - Kiersten Howe: 3850 Heartleaf Drive NW Acworth, GA 30101 - Kierst...: 3850 Heartleaf Drive NW Acworth, GA 30101 - Kiersten Howe
***Important information regarding future real estate closings
***Important information regarding future real estate closings
What is the CFPB-Integrated Mortgage Disclosure Rule?
You have probably been hearing tidbits of information concerning the elimination of the HUD-1 settlement statement. On August 1st, 2015 the new National Integrated Mortgage Disclosure Rule takes effect. That is only 87 days from today! What do you need to know to ensure you continue to have a smooth closing?
First and foremost it is important to recognize that the closing process will significantly change when the Consumer Financial Protection Bureau's (CFPB's) Rule for Integrated Mortgage Disclosures goes into effect. The Rule integrates forms required under the Truth-in-Lending Act (TILA) and Real Estate Settlement and Procedures Act (RESPA). A "Loan Estimate" will replace the current Good Faith Estimate and early TIL disclosure, while a "Closing Disclosure" will replace the HUD-1 and final TIL disclosure.
The Loan Estimate and Closing Disclosure documents are both very consumer friendly and were designed to ensure that a Consumer is fully aware of all of the line item costs that are commonly associated with a real estate closing. The CFPB refers to these forms as the "Know Before you Owe Forms". These forms improve consumer understanding, make loan comparisons more straightforward, and help to prevent surprises at the closing table. The new forms use clear language and design to make it easier for consumers to locate key information, such as interest rate, monthly payments, and costs to close the loan. The forms also provide more information to help consumers decide whether they can afford the loan and to compare the cost of different loan offers, including the cost of the loans over time.
Friday, April 24, 2015
Home Sales Surge to 18-Month High
Home prices also climbed last month, with the median existing-home price for all housing types reaching $212,100 in March—7.8 percent higher than March 2014. That is the largest price increase since February 2014, when prices jumped 8.8 percent year-over-year.
http://realtormag.realtor.org/daily-news/2015/04/23/home-sales-surge-18-month-high#.VTmcFf5DsiU.facebook
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