From my friends at TheTBWSgroup – Housing demand is rising rapidly, but a key cog in the wheel to homeownership is in deep trouble. The people most needed to close the deal are disappearing. Appraisers, the men and women who value homes and whom mortgage lenders depend upon, are shrinking in numbers. That is causing growing […]Read More Closing Delays Linked to Appraisers??
Your right to privacy is a significant concern for mortgage professionals who are involved in the solicitation, origination, processing, closing and servicing of mortgage transactions. Multiple laws protect the privacy of borrowers, and violation of these laws can result in serious liability. Privacy laws protect borrowers from the time they receive a solicitation for a mortgage […]Read More How Safe is Your Information & Documentation?
Answer: To remove private mortgage insurance you must be up to date with your monthly payments. And you have to reach the date when the principal balance of your mortgage is scheduled to fall to 80 percent of the original value of your home. GREAT info from the CFPB’s original article – here To remove private […]Read More Can I Remove Mortgage Insurance from My Loan?
GREAT words of wisdom from my friends over at KCM – There are some renters that have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either your […]Read More Rent or Buy – Either Way You’re Paying a Mortgage
First American Title issues a quarterly report, the Real Estate Sentiment Index (RESI), which “measures title agent sentiment on a variety of key market metrics and industry issues”. Their 2015 4th Quarter Edition revealed some interesting information regarding possible challenges with appraisal values as we head into 2016. “The fourth quarter RESI found that title […]Read More Home Prices & Appraised Values -Sellers need to sell their homes twice?
Let’s play a little IRS Tax Transcripts Jeopardy Answer: Because the IRS is ‘underfunded’ thanks in part to massive federal budget cuts Question: Why in the HECK are Tax Transcripts taking forEVER to process???? Update from one of the larger Third Party Validation Services explains why these transcripts, which lenders require to process a home loan, […]Read More IRS Blames Budget Cuts for Lengthy Turn Times on Tax Trascripts – Will Your Closing be Delayed??
The rate of home ownership in America…..have we hit the bottom??….. It has been falling for nearly a decade and in the fourth quarter of 2014, it hit the lowest level in over two decades at 63.9 percent, according to the National Association of Realtors. The peak for the home ownership rate was just under […]Read More Why is Now the BEST Time to be in Real Estate?