Posts Tagged ‘home buyers’

FHA hiking insurance fees on mortgages

by Associated Press Published: September 10,2010

Tags: home buyers, home ownership, insurance, mortgages, real estate

WASHINGTON — Sizing up the true cost of buying a home can be complicated. On top of the home’s list price there are numerous fees and financing costs to factor in. To complicate matters, the Federal Housing Administration is now hiking the insurance fees for the mortgages it backs. FHA loans are generally used by [...] [...]

New RESPA rules make closings difficult

by Amy McCullough Published: February 14,2010

Tags: home buyers, Real Estate Settlement Procedures Act, Realtors, settlement costs

Significant changes to federal rules under the Real Estate Settlement Procedures Act (RESPA) took effect Jan. 1. Although the Good Faith Estimate (GFE) and HUD-1 forms were redesigned to make it easier for home buyers to understand settlement costs, the changes have made closings more difficult for lenders. According to the National Association of Realtors, [...] [...]

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