This spring I handed house keys to a first time buyer who’d been dreaming of owning his own home for over ten years. In fact he’d been (more…)
The biggest change to the good faith estimate (GFE) since the 1970’s! The new disclosure format is effective starting January 1st 2010. The thinking behind the new format was to simplify the cost associated with a mortgage for the average consumer. It also ensures that the lender has the borrower’s and the property’s essential information in order to better predict the cost.
The bottom line is (more…)