Day: February 10, 2011

Getting a Mortgage After a Short Sale

February 10, 2011March 6, 2019 By Diane Gerdes

Question: My Client sold his home with a short sale and now wants to purchase another home. What are the options?

Answer: Fannie Mae or conventional loans up to $417,000 has finally addressed the issue of buying after a short sale. The following guidelines are effective after July 1, 2010:

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Truth in Lending

February 10, 2011March 6, 2019 By Diane Gerdes

Question: What is the Truth In Lending Statement?
Answer: In our office it is also called the “Oh, my goodness statement!”
Regulation Z or The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to protect consumers in credit transactions, by requiring clear disclosure of key terms of the lending arrangement and all costs.

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