Tag Archives: mortgage
How Has TRID Affected Mortgage Lending?
As of this entry, mortgage lending has been impacted by TRID for approximately six months. Now that we have had some time to process TRID, what are some of the changes it has caused within the title industry? First, however, a little background. The Consumer Financial Protection Bureau (CFPB) was created by the Dodd-Frank… Read More »
Should I Register As A Mortgage Broker To Sell My House?
The Dodd-Frank Act is comprehensive legislation that arose out of the Great Recession and mortgage meltdown that began in 2008. The Dodd-Frank Act created the Consumer Financial Protection Bureau (CFPB) to enforce new and existing lending regulations designed to protect consumers. As of January 10, 2014, all residential mortgage transactions are regulated by the… Read More »
Top Myths About Home Equity Lines Of Credit
Home Equity Lines of Credit (HELOC) are useful for: (1) avoiding mortgage insurance, (2) paying for improvements to the property, and (3) paying down car loans, credit card bills, medical debt or other debt. We often hear these three myths when consulting with clients who have a HELOC. Myth #1 – A HELOC is… Read More »
Foreclosure Settlement Leaves Many Borrowers Wanting
After years of negotiation, mortgage companies and the Department of Justice have finally reached an agreement to compensate homeowners for the mortgage servicers’ alleged botched foreclosure practices between the years of 2008 and 2010. The 13 mortgage companies agreed to pay a Foreclosure Settlement of $9.3 billion including $5.7 billion in noncash assistance and… Read More »
Condo HOA Dues
I’m In Foreclosure, Who Cares About the HOA Dues! Many Florida homeowners have the misconception about their HOA Dues. They think they are exempt from liability to their condominium or homeowner association if they are also in foreclosure. Unfortunately, many people learn too late that condominium and homeowner associations are well-protected under Florida Law…. Read More »
Bankruptcy And Foreclosure
Homeowners facing foreclosure due to difficulties making mortgage payments need not feel alone or helpless. Current economic conditions are forcing many once wealthy individuals into debt. Current trends within Florida show bankruptcies on the rise. In other words, individuals faced with the threat of bankruptcy and foreclosure should not feel ashamed of their economic… Read More »
