What about me? I'm the seller! - 06/04/10 03:19 PM
Almost all title company material and information is geared toward the purchaser, but what about the seller? After all, just like it takes two to tango, you cannot buy without a seller.The reason title companies focus on the buyers is because, in the DC metro area, it is the purchaser who chooses the title company. This does not mean that the seller should not become informed and not be aware of the fees that are being paid to the title company. Most companies do not post this information, on Federal Title's website, seller fees are posted and easily available.Also, Federal Title … (1 comments)

12 steps to homeownership: Homebuyer timeline - 06/04/10 03:15 PM
Buying a home is an important financial decision that should be considered carefully. Homebuyers must become familiar with the various stages of the home-buying process, including deciding whether it's the right time to buy a home or not and factors to consider in determining how much they can afford to spend. Learning about the sales agreement, how to use a Good Faith Estimate to shop for the best loan optins, required settlement services to close the loan and the HUD-1 Settlement Statement received at closing will increase the odds of a happy transition from renter to homeowner.
Find this graphic, along … (0 comments)

What homebuyers don't know: The cost of ignorance - 06/04/10 03:10 PM
Given that homebuyers are confronted with monumental tasks in the home-buying process, it should be expected that many of the finer details are entrusted to their real estate agent or mortgage lender. After a lengthy home search, contract offers and negotiation, gathering financial information for loan application, and making moving arrangements, the average homebuyer has had their fill. Unfortunately, the choice of a settlement or title company is not high on a homebuyer’s priority list, and the homebuyer often defers to their real estate agent or mortgage lender to make this choice for them. Deferring this choice to others, may be … (0 comments)

E-signatures valid on Maryland sales contracts - 06/04/10 03:06 PM
Recently I've heard feedback from a few Maryland real estate agents who are concerned about the validity of e-signatures on Maryland real estate contracts.
As a company that prides itself on empowering real estate agents with knowledge to make their clients' closing experience as pleasant as possible, we took it upon ourselves to investigate this matter and address the concern.
After making a few phone calls, I was able to reach out to an account rep at DocuSign, one of the companies that spearheaded an industry wide effort to move the FHA to formally recognize E-signed third-party documents.
An April 8, … (0 comments)

Second credit screening could delay closing or kill the deal - 06/04/10 03:03 PM
Want further proof that it's a bad idea to open a new line of credit while trying to buy a house?
Beginning June 1 your lender will likely be pulling a last-minute second credit report immediately before closing. If you've taken out a new loan that's large enough to affect your debt-to-income ratio calculations used in the original mortgage approval, your deal could fall through.
Opening a new line of credit – whether for new furnishings, landscaping, appliances, a new credit card, etc. – is one of the top homebuyer mistakes to avoid.
From the Washington Post:
The June 1 changes … (2 comments)

First-time homebuyer tax credit still on for military personnel - 06/04/10 02:58 PM
While the Federal Tax credit is a thing of the past for most of us, those serving overseas in the U.S. military, the foreign service and the intelligence community may still be able to claim the $8,000 credit.
"Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit," according to the Internal Revenue Service. That means qualifying homebuyers have until April 30, 2011 to enter into a sales contract. If the homebuyer meets that first criterion, he or she then has … (0 comments)

Is it time to breathe new life into your website? - 06/04/10 02:54 PM
The overhaul of an existing Web site or launch of a new one is an undertaking that comes with a lengthy checklist of tasks and possibly a substantial price tag.However, in the world of Web 2.0 technology and mounting expectations from increasingly tech-savvy customers, title companies around the country are exploring the options available to them today. Those options are allowing the smallest to largest businesses to be more easily found through Internet searches and to better serve as a source for everything from fee quotes to consumer-oriented educational tools once their Web sites are discovered.Nikki Smith, marketing director for Federal … (1 comments)

Not all title companies hate technology - 06/04/10 02:53 PM
I came across an article in Forbes today entitled "Why Title Companies Hate Technology."
At Federal Title, we love technology! We worked pretty hard around here to develop our consumer-friendly automatic quote software and then dove head-first into the world of Web 2.0 when we re-launched the Federal Title website earlier this year, so seeing a headline like that was certainly alarming.
Author Lee Gomes asks if a homebuyer can immediately access his credit score online, then why isn't there an online database where he can access land records and research his own title? Well, Mr. Gomes, if I can access … (0 comments)

To rent or to own, that is the question - 06/04/10 02:45 PM
The $8,000 federal tax credit for first-time homebuyers expired for most of us a little over a month ago, but mortgage rates continue to hold at historic lows prompting the question: Is it better to rent or own?
The big picture story tells us conditions are prime for buyers, but the truth is on a regional level the story has many versions. To determine if now is the best time for your unique circumstances, take a look at this Rent. vs. Buy Index produced by Trulia, a real estate website.
The index rates the Top 50 markets in the United States … (4 comments)

Now entering the Miami-Dade market - 06/03/10 11:53 AM
Seeking to assure a more transparent settlement transaction that delivers a guaranteed quote for closing costs and directs a financial benefit to the home buyer instead of the referral source, Federal Title & Escrow Company introduces to the Miami-Dade market an unprecedented model that empowers the consumer.
While many title companies share their revenue with real estate brokerages as a reward for the referral, Federal Title instead gives part of its revenue back to the consumer. The announcement comes on the heels and in the spirit of the U.S. Department of Housing and Urban Development's proposed rule to reform the Real … (0 comments)

 
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Todd Ewing

Washington, DC

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Federal Title & Escrow Company

Address: 5335 Wisconsin Ave, NW , Suite 700, Washington, DC, 20015

Office Phone: (202) 362-1500

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We re-post our articles here that pertain to real estate pros. Find the original articles on the Federal Title & Escrow Company blog.

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