Truth in Lending or COnfusion for All!? - 07/11/09 03:34 PM
Does anybody know exactly what the new Truth in Lending regulations are.  I keep hearing rumors and I have seen a few items in print but it all just seems crazy to me.
Exactly what is the government doing?  I do not see how any of the new regulations help anybody.  It seems to only add to the frustration and cost that the buyer will have.
If anybody has actual information please post it so the rest of us can understand it.
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Illegal Lending Practices? - 07/07/09 06:01 PM
I need some help from my fellow agents.  I know there are regulations preventing builders from offering incentives to buyers for using their lender versus another lender but what about bank owned properties?  Is there any law or regulation that addresses this issue?
An example:  Lender ABC forecloses on a property and then puts it up for sale.  My buyer looks at the property and decides to make an offer.  ABC sends me the addendum and it it clearly states that if my buyer uses ABC as their lender then ABC will pay 3% in closing costs and also offer a … (3 comments)

Do Not Pass Go - 07/01/09 02:00 PM
Thankfully the Federal Trade Commission has issued a statement that they are cracking down and investigating many of the so called get rich schemes.  This includes the ones that promise people they can get rich buying and selling real estate without using their own money.
How many times, as an agent, have you been asked about these stupid schemes.  You want to be honest and let people know they are not legitimate but at the same time you don't wnat to be too critical because then it sounds like sour grapes and you are jealous.  You end up walking a tight … (1 comments)

 

Todd Pierceall

Gastonia, NC

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