Real Estate Blog

Be Aware - Criminals across the country have begun sending emails that look legitimate to unsuspecting home buyers, title companies, and even home sellers. These emails can look very "official" because the criminals are spoofing email accounts belonging to your REALTOR, the title company representative, maybe even your banker or lender.  Their goal is to convince you to transfer home purchase money into the criminals' bank accounts -- instead of legitimate accounts.  Click the READ FULL POST button below to watch a short video from the National Association of REALTORS with more information.

Also -- know that agents and representatives of RE/MAX Boone Realty will never send you money wiring instructions via an email or ask that you send us

2,854 Views, 0 Comments

Termite inspections haven't been mandatory for any loans, with the possible exception of VA loans, for a number of years.  Just got word this morning that wood-destroying pest inspections are now required for FHA loans if, there is evidence of active infestation, it is mandated by state or local jurisdiction, it is customary to the area, or at the lender's discretion.

Per HUD FHA Guidelines: "Customary to the area" would be driven by local market practices such as incorporating provisions addressing termite or wood destroying organisms in the standard real estate contract in termite-prone areas or where potential of infestation exists, or local requirements such as states requiring the use of their own wood-destroying insects/organisms form.

1,779 Views, 0 Comments

IMPORTANT - Could Affect How Quickly You Can Close Your Loan:

Effective October 3, 2015, all mortgage lenders will be implementing new truth in lending disclosure requirements mandated by the Consumer Financial Protection Bureau.  These changes are aimed at making it easier for home buyers to understand the mortgage options being presented to them by an individual lender and to be able to compare mortgage options from several lenders. These disclosure changes will affect both:

  • the beginning of the home buying process by replacing the current Truth In Lending Act (TILA) disclosures as well as
  • the closing of the home purchase by replacing the current Real Estate Settlement Procedure Act (RESPA) disclosures, the so called HUD-1 statement, with
437 Views, 0 Comments