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
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
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
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
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
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
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
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
Posted on December 16, 2019 by Nancy Liu | Category: Real Estate
While the nation is slowing down, Atlanta Real Estate is Booming Since the peeking of the price appreciation in housing in the second quarter of 2005, it has been decelerating due to Federal Reserve’s sixteen times hike of interest rate and ever higher price of oil and gas. According to the National Association of Realtors… Read More
Posted on December 16, 2019 by Nancy Liu | Category: Real Estate
According to the latest information from Office of Federal Housing Enterprise Oversight, the national average property price has increased by 13.43% from 2004 Q2 to 2005 Q1, the fastest growth rate in the past twenty-five years. However, the property price of metro Atlanta has only increased by 5.32% for the same period. In addition, the… Read More