Five of the country’s largest mortgage servicers were given 180 days to implement the 320 servicing standards that were handed down by the U.S. Department of Justice and 49 state attorneys general. The settlement addresses issues like borrower communication, training for loss mitigation staff, foreclosure...
Listing a home for sale requires most home owners to roll-up their sleeves and do some work to make their home appealing in a buyer’s eyes. Kitchens are one of the first places buyers visit during open houses. If you aren’t able to do a...
It’s getting to be that time again – Property Taxes are due! This is a friendly reminder that Property Tax bills are mailed out in October, and your first installment of taxes is due on November 1st. Important Dates to Remember: - Fiscal year begins July 1st and...
Right now, consumers are usually charged for appraisal costs, but that might be changing. The Consumer Financial Protection Bureau (CFPB) recently proposed a new rule that would require mortgage lenders to provide free appraisal reports to applicants. The report would offer a deeper look at...
According to the real estate website Zillow, purchasing a home can pay off, on average, in just three years. In a new analysis they call the “break-even horizon,” Zillow explores the advantages of purchasing a home versus renting. Chief among the reasons are building your own...
Buyers are becoming more and more savvy when home shopping, and many have a specific idea of what they’re interested in before they even set foot inside a home. When a buyer thinks about spending their hard-earned money on a new home, most expect the...
HUD’s 203(k) program is a beneficial program that assists home buyers who are looking to rehabilitate and repair single-family properties. Eligible properties include one- to four-family dwellings that have been built for at least one year. Demolished homes can qualify as well, but must have...
A new 3.8% surtax, or “transfer tax,” that takes effect on January 1, 2013 could impact certain real estate transactions next year. There has been a lot of discussion about this new surtax and how health care could start to impact real estate, but understanding...
The Mortgage Debt Relief Act is something worth familiarizing yourself with in order to better understand your tax liability as it relates to forgiven debt. Right now, the program has been extended until December 31, 2012, but there is talk of extending it further to...
In an effort to establish better relationships between servicers and home owners, Fannie Mae is offering a new program called “Know Your Options Customer Care” for servicers. The customer care training program will benefit servicer call center employees who are on the front lines answering...
