November 2, 2018

WHAT IS TRID?

TRID is a lending regulation that took effect in October 2015 and it mandates disclosure of closing fees to buyers at least six days in advance […]
November 2, 2018

WHAT IS THE CLOSING DISCLOSURE?

It is a breakdown of all the fees you are charged at the closing.
November 2, 2018

CAN I CHANGE MY LENDER IF I AM UNHAPPY WITH THEM?

Yes, but it may delay the closing depending on when you change, and the sellers can cancel or seek damages from you unless they agree to […]
November 2, 2018

WHAT IF I DO NOT HAVE A CLEAR TO CLOSE BY MY MORTGAGE CONTINGENCY DATE?

First, you need to put pressure on your lender to meet this date.  Failure to do so is often an indication that your lender will not […]
November 2, 2018

WHAT IS THE MORTGAGE CONTINGENCY DATE?

This is the final date, as stated in your contract, for your lender to issue a clear to close.
November 2, 2018

WHAT IS THE CLEAR TO CLOSE DATE?

This term is used by lenders and lawyers and refers to your lender’s unconditional promise to give you a loan for the amount they promised.  If […]
November 2, 2018

WHAT IS THE MORTGAGE CONTINGENCY?

This is one of the most important portions of your contract.  It is what allows you to cancel the contract in the event that you do […]
November 2, 2018

WHAT IF THE HOME APPRAISES FOR MORE THAN THE PURCHASE PRICE?

Great! You do not need to pay more for the house, nor do you need to tell the sellers that the appraisal came back high.
November 2, 2018

WHAT IF THE HOME APPRAISES FOR LESS THAN THE PURCHASE PRICE?

You may have the option of cancelling the contract or asking the seller to lower the price depending on the language of your contract.  The seller […]
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