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Challenging Brokers’ Add-On Fees

Wed, 03 Jun 2009 21:06:51 +0000

A federal district court has handed down a ruling in a class-action lawsuit that could directly affect the fees you pay to the real estate brokerage company at closing, whether as a buyer or seller.

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First-Time Home Buyers Can Turn Tax Credit Into Cash

Wed, 03 Jun 2009 22:06:57 +0000

The $8,000 federal tax credit for first-time home purchasers is about to morph into a ready-cash down payment source, thanks to a federal policy change.

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The Nation’s Housing: Mortgage Fraud Most Common at Beginning of Loans

Wed, 03 Jun 2009 21:06:24 +0000

It may not have made a big splash on network news or in print, but for real estate it was the equivalent of a congressional declaration of war — a war against mortgage fraud.

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Paying Tax Credit Forward Would Get More Buyers In the Door

Wed, 03 Jun 2009 23:06:40 +0000

For the housing market, it’s the equivalent of financial alchemy, and it’s hot: Turning the $8,000 federal home-purchase tax credit, which normally can’t be spent until you get your refund, into cash today, available for your down payment and closing costs.

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New Appraisal Rules Come With Costs

Wed, 03 Jun 2009 21:06:45 +0000

How about this scenario the next time you refinance or apply for a new mortgage: The real estate appraisal that used to cost you $325 now costs $450, even though the appraiser doing the work is getting only $175 or $200.

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Mortgage Safety Net May Help More New Buyers Take the Plunge

Sat, 25 Apr 2009 01:04:49 +0000

Is there a rainy day in your personal job forecast? That wouldn’t be surprising — with unemployment rates in double digits in several states, 8.2 percent nationwide and widely expected to hit 10 percent or higher by next year.

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Low Price, Low Rate, Sky-High Fees

Sat, 18 Apr 2009 01:04:17 +0000

House prices and mortgage rates are down, which sounds great for buyers and refinancers. But a series of underwriting and appraisal changes taking effect this month is throwing new obstacles in the way of borrowers and loan officers.

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Disclosing Energy Efficiency

Sat, 11 Apr 2009 00:04:03 +0000

Picture this: You’re shopping for a home, dropping by open houses on a weekend. Each house you visit has an easy-to-understand disclosure about something that’s typically unknown: its annual energy-guzzling costs.

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Kenneth Harney on New Appraisal Standards

Sat, 04 Apr 2009 03:04:34 +0000

When you apply for a mortgage to buy or refinance a house, should you be concerned that your appraiser is being paid much less than the $300 to $600 you’re charged, perhaps half?

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Keeping Closer Tabs On Brokers

Sat, 04 Apr 2009 01:04:21 +0000

Should your mortgage loan officer’s fingerprints be on file in a national electronic database, even if he or she has never been convicted of a crime?

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