Prepare For Loan Application

Posted on December 16, 2019 by Nancy Liu | Category: Real Estate

Prepare for your Mortgage Application When you are getting your dream house, other than looking for the appropriate location, satisfactory architecture, and a desirable community, the more important thing is to ensure you have the mean to purchase your dream home.  That means to have your loan application approved smoothly if you are acquiring a… Read More

Pay Property Tax At Tax Season

Posted on December 16, 2019 by Nancy Liu | Category: Real Estate

Remember to Pay Your Property Tax Autumn is the season of harvest.  It is also the annual property-tax season. If this is your first year of owning your newly purchased property, or if you own land, rental property or commercial property, you need to check the payment of every single property’s tax bill from your… Read More

Lending Regulation

Posted on December 16, 2019 by Nancy Liu | Category: Real Estate

Regulations on Real Estate Lending There are two major regulations on real estate lending.  One is the Real Estate Settlement Procedures Act, also called RESPA.  The other is the Truth in Lending Act. 1. Real Estate Settlement Procedures Act (RESPA) In 1974, the United States Congress passed a consumer-protection statute called Real Estate Settlement Procedures… Read More

How To Choose The Right Loan

Posted on December 16, 2019 by Nancy Liu | Category: Real Estate

Most homeowners purchase property with the help of a mortgage.  Your closing cost and monthly payment may vary depending on the different Lenders and the type of mortgage.  There are numerous choices on the current market, but not everyone knows how to choose amongst different types of mortgage options and wide variety of mortgage companies… Read More

Financing Consideration

Posted on December 16, 2019 by Nancy Liu | Category: Real Estate

Necessary Considerations on financing In previous articles, we have briefly introduced the main categories of mortgage options. In this article, let’s think about what are the issues we should consider before getting a loan. Different people has different financing needs: some borrowers finance base on a long term plan, and some are interested in short… Read More

Final Walk Through

Posted on December 16, 2019 by Nancy Liu | Category: Real Estate

Typically, after the buyer has signed the contract with the seller and the loan is in place, buyer and seller need to set up time and date for closing. The buyer should have a final walk through in the property before heading to the attorney’s office for closing, so buyer can make sure the seller… Read More

Escrow Account

Posted on December 16, 2019 by Nancy Liu | Category: Real Estate

Escrow Account in Real Estate Transactions When a buyer purchases a property with a mortgage, the mortgage lender often requires the borrower to set up an escrow account with the lender.  The purpose of an escrow account is to ensure that the borrower will pay the property’s property taxes and insurance premiums (hazardous insurance, or… Read More

Disclosure Statement

Posted on December 16, 2019 by Nancy Liu | Category: Real Estate

Property Disclosure Statement in Real Estate Transactions In a real estate transaction, the seller must provide a Property Disclosure Statement to the buyer. Normally, the Property Disclosure Statement is a standard questionnaire prepared by the listing agent according to answers from the seller regarding the history, current situation, damage, or problems that may have occurred… Read More

Closing Process

Posted on December 16, 2019 by Nancy Liu | Category: Real Estate

What Does A Closing Attorney Do? – Closing Process We begin processing the purchase of your new home or the refinancing of your existing loan once we receive the order from the seller, buyer, lender or mortgage broker involved.  We first send an experienced title search attorney to check the title on the property.  This… Read More

Change in Mortgage Industry

Posted on December 16, 2019 by Nancy Liu | Category: Real Estate

Mortgage Industry Face Significant Change Over the past four years, while the housing industry is booming, an explosion of exotic mortgage underwriting dominated the market, fueling outsized profits and excess leverage for borrowers, banks and Wall Street debt underwriters.  With the subprime crisis and ever deepening downturn of housing market, the whole mortgage industry suffers… Read More