The new “Know Before You Owe” or TILA-RESPA Integrated Disclosure Rule (TRID) from the Consumer Financial Protection Bureau began in Oct. 2015. The new rule has created new mortgage disclosure forms and has change the way real estate transaction are processed and closed.
The new “Know Before You Owe” or TILA-RESPA Integrated Disclosure Rule (TRID) from the Consumer Financial Protection Bureau began in Oct. 2015. The new rule has created new mortgage disclosure forms and has change the way real estate transaction are processed and closed.
If you live in Hall County you see new homes being constructed or maybe you have new neighbors moving into existing homes. All are positive signs for the real estate market but what are the professionals witnessing.
If you live in Hall County you see new homes being constructed or maybe you have new neighbors moving into existing homes. All are positive signs for the real estate market but what are the professionals witnessing.
So you’ve found the house you have been looking for. It fits your needs and budget and now it’s time to apply for a loan. Getting a loan is a little easier than a few years ago but it can still be a challenge for some.
On a previous Legal Briefs segment, we discussed what steps you need to take to qualify for a refinancing your mortgage. Today we want to continue the discussion on refinancing by talking about the advantages refinancing and things to consider when making that decision.
Previously, we’ve discussed mortgage scams targeted toward homeowners facing for foreclosure or behind on their mortgage payments. There is another side of mortgage fraud and it’s committed by potential home buyers during the application process.
Mortgage fraud has become prevalent around Georgia and especially in the metro Atlanta area. If you are facing the possibility of losing your home to foreclosure or are behind on your mortgage payment, you could be targeted by scammer.
In 2007, the number of reverse mortgages peaked at approximately 115,000. By 2012, the number fell to 51,000. At the same time, the rate of default on reverse mortgages rose to approximately 9.4 percent of loans in 2012, up from 2 percent a decade earlier.
with the New Year comes new protection for consumers seeking mortgages. On Jan. 10, the Consumer Financial Protection Bureau began requiring lenders to make sure borrowers can afford to repay loans based on their income, debt and credit history.