When there is a direct relationship between any of the parties to a real estate transaction, (including borrower, client, employer, lender, broker, appraiser, seller or builder) the transaction will be considered non-arm’s length. An Arm’s Length transaction would then be a transaction where all the parties involved are entirely independent of each other and have no reason for collusion. Who
When can I buy a new home?
The calls are coming in from former short sale homeowners that now want to reenter the housing market. The rumor that FHA will finance homes immediately after a short sale is as likely as Lindsay Lohan staying out of jail. FHA Mortgagee Letter 09-52, is very specific on their guidelines (I know, it shocked me, too, a government mandate that is clear and concise).
Charlie Sheen, Muammar Gaddafi and Uncle Sam walk into a bar. Who will pay? Gaddafi hates America so much that all of his money is tied up in U.S. banks and investments. Charlie ranted his way out of his billion dollar T.V. show plus he isn’t sure rehab allows drinking with non-strippers. Uncle Sam is the only one of three that has a job and he can’t pay due to budget constraints.
It’s official. Our government is slowing killing the Arizona housing market.
President Obama torpedoed the already distressed home financing industry by announcing the gradual raising of down payments to a minimum of 10% on conventional loans. He touted a 2009 survey by the Federal Reserve Bank of St. Louis that reported…
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.