A 90-day moratorium on foreclosures in California was put into effect on June 15, 2009. It covers loans on owner-occupied principal residences made between January 1, 2003 through January 1, 2008. However, a lender is exempt...
Read MoreIn the absence of any mention of either “installment sales” or “credit sales,” the Mortgage Reform and Anti-Predatory Lending Act (also known as HR 1728) has no effect on carryback transactions. HR 1728 is focused on tightening...
Read MoreThe federal district court ruling in Busby v. JRHBW Realty, Inc. (RealtySouth) held admin, processing, and ABC fees in violation of RESPA 8(b), i.e., HUD’s “no-new-service, no-second-fee” regulation. The ABC fee challenged in...
Read MoreThis chapter analyzes redundant charges imposed on buyers and sellers for the basic services necessarily rendered by lenders, escrow companies and title insurance companies to earn the primary fee they charge. The hidden costs...
Read MoreA look at the current financial rates.
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