You may recall my warning from Oct 16, 2013 Real Estate Agent Beware! where I painted the ghastly picture of a flood of loan officers resembling that scene from Braveheart. You know the one where William Wallace and his army of loan officers…er, eh hum, I mean his army of rebels charge down the grassy […]Read More Real Estate Professionals, Home Builders AND Consumers BEWARE!
According to NAR’s most recent housing report, the answer is a firm “NO”. In fact, home sales in 2013 rose to the strongest level in 7 years. This taken directly from NAR’s RealtorMag: “Existing-home sales have risen nearly 20 percent since 2011, with job growth, record low mortgage interest rates, and a large pent-up demand […]Read More Are mortgage rates dampening home sales?
On Jan. 10, the Consumer Financial Protection Bureau (CFPB) rolled out new rules governing how mortgage lenders originate loans. The regulations are designed to prevent shady or predatory lending and otherwise protect consumers. Financial institutions have been preparing for the changes for months. The big fear is that potential homebuyers will be blindsided. What do […]Read More ABILITY TO REPAY and QUALIFIED MORTGAGES: The new challenges for homebuyers (and their agents)