(Originally published March 21, 2010.) Everything seems to be going smoothly. The purchase contracts were signed. The mortgage was approved. The closing is scheduled. Then you get the call that the …
Good Faith Estimate 2010 – The Good, The Bad, and The UGLY.
(Originally published January 24, 2010.) As of January 1, 2010, the latest government revision to the banking industry has been the redesign of the Good Faith Estimate (GFE). In years past, there …
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Home Buyer Tax Credit Extended Through Spring 2010
(Originally published November 14, 2009.) With the First Time Home Buyer Tax Credit Program set to expire at the end of November, President Obama has signed legislation extending the $8,000 credit …
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New Truth In Lending Laws Still Causing Mortgage Delays.
(Originally published October 31, 2009.) Its common knowledge that when applying for a mortgage, borrowers receive a mailbox full of applications, forms, and disclosures, all sent by the bank, all …
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FHA Revokes All Condo Approvals!
(Originally published September 8th, 2009.) ATTENTION ALL CONDO BUYERS AND REALTORS WITH CONDO LISTINGS: If you’re planning to get an FHA mortgage on a condominium, you had better act fast! As …
New Government Regs Will Cause Delayed Closings and Broken Rate Locks – Unless You Heed My Advice.
(Originally published July 12, 2009.) On July 30, 2009, the Mortgage Disclosure Improvement Act takes effect. MDIA was passed in 2008 as part of the Housing and Economic Recovery Act. MDIA affects …
