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Regulation Z and The Impact for Buyers in Cecil County MD

By Rich Cotton

Real Estate Agent with Rich Cotton The Waterfront Specialist EXiT Preferred Realty

April 01, 2011 05:27 AM

Regulation Z is Washington D.C.'s attempt to once again help consumers. It backfired! Washington has once again enacted legislation that will penalize all of the borrowers by disallowing Loan Officers to contribute any of their personal funds to keep a transaction alive. The video explains this in greater detail and how it will impact Cecil County, Maryland home buyers.

Chesapeake City MD Waterfront Specialist - Rich Cotton Serving the Waterfront/Water Oriented Buyers and Sellers since 1989 in Elkton, Chesapeake City, Earleville, Cecilton, North East, Charlestown, Perryville, Port Deposit, Galena, Kennedyville and surrounding areas. 800-757-7412.

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Robert Rauf

CMG Home Loans - Toms River, NJ

Dodd/Frank and all the fun! It is pretty crazy all of the changes we have seen in the mortgage world, all was set up to protect the consumer, but everything I have seen has actually increased the costs to the client. "hi, I'm from the government, and I am here to help"

Apr 01, 2011 05:30 AM

Ralph Gorgoglione

Metro Life Homes - Palm Springs, CA

California and Hawaii Real Estate (310) 497-9407

What a great post! Thank you for sharing this post.

Apr 01, 2011 05:39 AM

Rich Cotton

Rich Cotton The Waterfront Specialist EXiT Preferred Realty - Chesapeake City, MD

Waterfront Specialist Cecil and Kent Counties MD

Robert,

Amen to that. Whenever the Government gets involved ......Look out!

Ralph,

Stay Tuned...there are rumbelings that a "Stay" is imminent.

Apr 01, 2011 06:25 AM

Maria Morton

Platinum Realty - Kansas City, MO

Kansas City Real Estate 816-560-3758

Rich, do you ever wonder if the folks in DC do this on purpose or are they really that out of it?

Apr 01, 2011 05:05 PM

They are doing it on purpose but that's another blog.

Apr 03, 2011 04:25 AM

There was a stay, but I think it will only be temporary. Most companies had plans in place that they are rolling out anyway in anticipation of something coming through...

Apr 03, 2011 03:37 PM

Anonymous

I understand that this may be temporary but we can always hope. t is my sense that the Loan Officers will fair better monetarily under Reg Z. What is your take?

Apr 04, 2011 12:13 AM

LO's are the scape goat!!! it is not likely we will fair better... no matter what. But the strong career professional loan officers willl survive and will still provide a necessary service to the buying public.

Apr 05, 2011 09:31 AM

Hopefully we will find out soon. I do agree. Good LO's will survivie.

Apr 05, 2011 10:07 AM

Regulation Z and The Impact for Buyers in Cecil County MD

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