|Real Estate Information|
Comparing The True Cost Of Obtaining A Home Loan
W. Troy Swezey
Home buyers are often confused about where to begin in their search for a home loan. The process is usually narrowed down to finding which institutions provide the lowest settlement costs, but the different types of lending institutions and the variety of lending programs available can make the search a slow, difficult experience.
Real estate settlement costs are fees buyers normally pay when purchasing a home such as legal services property insurance, mortgage loan financing and title services. In the past, consumers would have to call each lender, request an estimate of their settlement costs and compare all of the results to find which lender offered the lowest total settlement costs.
The Department of Housing and Urban Development, however, recently revised the Real Estate Settlement Procedures Act RESPA which now makes it easier for consumers to estimate various settlement costs through computer loan origination programs. In this manner, consumers can access a computer listing of various programs offered by lending institutions.
The computer search speeds the process of reviewing various programs and allows participants to arrange financing with the listed lender. Buyers using a computer loan origination program may be required to pay a fee for this service, but many buyers feel the convenience outweighs the cost. Still, the new RESPA changes require a real estate broker with a computer loan origination program to inform the buyer that the service is only an option and that non-listed lenders may offer lower rates or fees.
The new Federal Regulations also permit real estate brokers to offer more comprehensive services to home buyers by allowing brokers to enter into controlled business arrangements with other companies associated with the home buying process. Real estate brokers were always allowed to refer buyers to lending institutions, title companies and escrow companies, but they were not permitted to accept compensation from those institutions for giving a referral. The RESPA changes now allow real estate brokers to enter into partnerships or actually open their own mortgage service institutions. This allows brokers to provide virtual “one-stop shopping” by handling the entire settlement process.
RESPA changes were made to help home buyers learn about and obtain mortgage services more conveniently. Since RESPA helps consumers to understand the process of home ownership, the regulations may encourage more potential buyers and further stimulate the real estate market.
Understanding Real Estate Terminology
Purchasing a home can be a complicated and confusing process, especially for first-time buyers.Throughout the process, first-time home buyers will encounter a variety of unfamiliar real state terms. There are several key terms associates with purchasing real estate that are helpful to learn.
High-income Earners Consider Renting Chic Again
Over the past two years, households that earned $50,000 or more annually and had the means to join the ranks of home owners or continue owning the roofs over their heads represented the fastest growing segment of the rental market, according to the National Multi-Housing Council.
I Would Give Anything To …
A couple days ago I was listening to a CD by one of the most successful speakers in the industry. He has been around for many years and is considered one of the greats. He is also considered to be somewhat off the beaten path.As much as he is admired and respected by many, he is judged by just as many. The segment I found most intriguing was one about how others often say to him, “I would give anything to be a successful speaker and author just like you.”
Types of Listings with Agents
There are several different types of listing contracts. Few of them are detailed below:
The Metaphors of the Net
I. The Genetic Blueprint
Networking Tips - Getting An 800 Number
Another way to network is by using an 800 number and establishing a network of experts to refer your clients/customers to. An 800 number provides a way for your customers to reach you. You can answer information needs, resolve problems and obtain information from your customers. You will of course need to publicize your 800 number in your promotional materials, and advertisements. The best way to get the most out of your 800 number is to have a definitive plan on how you will employ it. Will you have prospects call to find out more about your products/services Will you provide information when they call and then follow-up with printed materials, or will you direct them to a source
How To Give Your Home A Face-Lift: The Sellers Guide To A Quick Sell
One of the great challenges to selling a home can be showing all of its space, decor and natural light potential.For example, every home has crowded closets and dead space.Sellers should be aware that areas such as these are easy to spruce-up with a little elbow grease and old-fashioned innovation.
Perhaps you’d like to take advantage of today’s great buyer’s market in housing but feel a little intimidated by everything that’s involved.
Get PHP pages indexed in the Search engines
A simple method to convert files from Php to Html Extensions, on an Apache Server
A fickle stock market encourages good-humored mockery.
Lower Your Credit Card Interest Rate Now!
With today’s credit card companies, there are many opportunities to get your cards rate of 21% or more reduced. The higher the amount of interest your card charges will cost you more for a simple purchase and ultimately may take you years to pay off instead of months, should you make the minimum payment allowed. People often just pay the minimum balance as a way to improve their credit rating; this couldn’t be a more dangerous way to increase your credit score. Leveraging the credit card company to say “Uncle” to your ability to switch over is easier than you think.
How To Make Easy Money on the Internet -- But This Time Its Actually TRUE!
Internet News Services Explode Online
It seems no matter how much information comes available online, people thirst for more.
Find a Job in a Fast Growing Field Using Labor Market Information For Your State
The question confronting most people who want to find a job is "whats a good paying job with growth potential"
Investing: The Art Of Making Your Money Work For You
There is a lot to know about investing. It all depends on what type of investing you are interested in as well. There are many different types of investment options out there. So what is investing, specifically
Internet : A Medium or a Message
The State of the Net
Internet Marketing Reality Check
There are thousands of web sites, books, CD-ROMs, cassette tapes and various other forms of communication devoted to the topic of Internet marketing. The majority of these sites profess to offer "secret strategies" and "killer tactics" which promise to increase your chances of having success on the Internet. Of course you must fork over your hard earned cash for these wonderful pearls of wisdom. Many of which turn out to be nothing more than pyramid schemes and other scams
Preventing Foreclosure Proceedings and Understanding Your Options
Every year over 8 million homeowners are seeking help preventing foreclosure proceedings. This is a stunning 30 year high. Experts project that by 2006, 12 million homeowners will be teetering on the brink of foreclosure. Many homeowners are not aware that the can prevent foreclosure and save their house. Did you know that you can’t stop the proceedings up to an hour before the auction takes place
Avoid The Sticker Shock Of Relocating
To avoid the sticker shock of relocating, moving Americans can use the results of movecentral.coms annual moving survey to plan their spending. The new survey finds that movers spend $9,400 on purchases during the three-month relocation period, while renters spend $3,700.
Ethics in Business... A Lost Art
While watching Face the Nation one Sunday earlier this year, Bob Schiffer discussed the airline industry, his mother and ethics in business. Like Bob, I think it is a sad commentary today, that we have to police businesses. Whatever happened to going into business to provide a needed service, being loyal to employees, and keeping promises.
|home | site map|