lenders: Did you see? Do you know where it is? - 05/04/11 11:52 PM
In a recent closing my client said she was going to use the words "Did you see? and "Do you know where it is?" engraved on her husband's tombstone! We all had a good laugh. Let's face it as we all age these are common questions we hear on a regular basis. Forgetting where we laid our glasses, pills, books...you name it..these occurrances happen on a regular basis!  Working with buyers I'm often asked the same type of questions....did you see that house on 2408 XYZ Street?  Do you know where it is located?  Do you know why they are selling?  … (16 comments)

lenders: When should I cancel my homeowner's insurance? - 01/17/11 10:51 PM
A question my sellers most often ask as we get closer to closing is "When should I cancel my homeowner's insurance policy?"
I always emphasize how important it is not to cancel their homeowner's insurance policy until the proceeds are in their bank account from closing.
We see issues arise in this mortgage environment that can cause delays in closing on time or at all thus causing problems for sellers.  The transaction is not complete until the proceeds hit your account!
Recently a title company told me of a transaction where the buyer and seller signed the closing documents, the wire was issued from the … (49 comments)

lenders: Why would a condo project not be warrantable? - 01/11/11 01:51 PM
One of the residents in our community emailed with a question concerning a sister who lives in Michigan and is looking at a particular condo to purchase. The sister was told the development was not warrantable and she would have to pay cash if she wanted to purchase a unite.  He wanted to know what circumstances came into play that caused this restricion to be implemented.
Answer: Loans on condos in today's mortgage environment are fraught with limitations.  The most common is the ratio of owner occupied to rentals.  In very simple terms if there are too many units used as … (8 comments)

lenders: Are Your Clients Moving This Holiday Season? - 12/02/10 06:37 AM
I have several clients moving over the holidays.  Stress level is high...They need to get in and get settled so they can get their tree and holiday decorations up...Lenders are looking over their shoulders to make sure no big ticket items are being purchased and hopefully they locked their interest rates weeks ago!
I've been offering my clients a list of reputable movers to interview so they can schedule a smooth move!  Movers are booked at this time of the year and you want to make certain that you are getting a trustworthy company.  I'm also suggesting they ask friends and … (8 comments)

lenders: A Good Agent Can Make The Difference - 08/31/10 12:20 AM


There are many homeowners wanting to make a move to a larger home due to an expanding family or to a smaller home as family members grow up and move on.  It's a perfect time to choose a new lifestyle with home prices lower coupled with historic low interest rates.
A home I listed is for the desire of my seller to purchase a larger home, in a better school district after their home goes under contract.
Guiding them through the process to ensure their goal is a priority.  It's not rocket science but it does take planning and perserverance … (12 comments)

lenders: I Didn't Ask For You To "Show Me The Money", I Said "Show Me You Can Get The Money!!" - 07/22/10 11:35 AM
I was reading several blogs this morning and the one Judi Barrett with Integrity Real Estate wrote on Homebuyers needing to get qualified: " Home Buyers, Please Don't be Offended... Just get Pre-Qualified. " stuck with me throughout the day.  We all get calls from buyers wanting us to show them houses.  Sellers want to make sure their homes are being shown to qualified buyers.
It is our jobs as professionals to make sure a buyer has taken the time to get pre-qualified so we are showing homes to them they can afford and for what they are qualified to purchase given … (98 comments)

lenders: What Non-Realty Items Can Be Included In A Purchase Contract? - 05/18/10 10:11 AM
In the past agents wrote in all kinds of items in a purchase contract...a TV, patio furniture, refrigerator, etc. trying to make a deal!  Now with lenders tightening up on what they want to see in contracts, agents need to be sure to use a Non-Realty Addendum for any item not  normally conveyed with the property.  As agents we need to be aware of what items can be included.
Here is a list of what can convey as non-realty in a real estate contract:
Anything that is "attached" and would require effort to detach (hanging lamps, ceiling fans, drapes) Child play/swing sets … (5 comments)

lenders: Facelift on Closing Statements ~ Effective January 1, 2010 - 12/30/09 09:49 AM

 
What becomes effective January 1, 2010 on the closing statements?
In order to make HUD-1 closing statements more transparant for the parties involved, the Department of Housing and Urban Development (HUD) has made various changes.  HUD has tried to protect consumers, particularly buyers, during the course of dealing with their lenders and at the closing table.
Here are a few of those changes:
1. Mortgage brokers will need to calculate their commissions from their lenders (known as yield-spread premiums) as part of the loan origination fee, brokers will be less likely to place their customers into loans at the … (10 comments)

lenders: Should You Make A Relative A Loan?? - 12/30/09 04:26 AM
The economy has brought about hardships for many and some are struggling far greater than others.  You may find yourself in a position where a family member asks you for a loan to help them out.  Nothing huge, but a loan nonetheless.  Because they are family you think you can just write a check and rely on the payback promise.  Is this a good idea?  If you make the decision to lend money you should decide on some guidelines.

 
1. SIZE UP THE LOAN.  Depending on who the "loved one" is, you might consider a small loan with no … (18 comments)

lenders: What Is Up With GFE In New Construction Transactions?? - 12/17/09 03:01 AM




As of January 1, 2010 transactions involving new home purchases, where settlement is anticipated to occur more than 60 calendar days from the time a GFE is provided, the loan originator may provide the GFE to the borrower with a clear and conspicuous disclosure stating that any time up until 60 calendar days prior to closing, the loan originator may issue a revised GFE.
Now the kicker is if no such disclosure is provided, the loan originator MAY NOT issue a revised GFE in the absence of changed circumstances.  Being aware of nuances of the disclosures will … (4 comments)

lenders: New Housekeeping Rules - 12/16/09 04:24 AM



The purpose of the new GFE and HUD forms required and to be used by January 1, 2010 is to promote consumer loan shopping.  One of the premises of the mortgage mess is that the consumer was not clearly informed of their choices therefore standardized forms need to be drawn up so they can compare apples to apples.  I just wish they would have thought to add a place for their signature on the paperwork...duh...
Remember the GFE must be issued within 3 days of application.  We need to be familiar with the new rules not to act … (5 comments)

lenders: Hold On... - 12/01/09 04:35 AM
The end of the year is upon us and those buyers who have not made a decision are out trying to take advantage of the low interest rates and home prices.  The lenders are driving us all crazy with information and data gathering overload. 
The best advice I can give my buyers:







"When you come to the end of your   rope, tie a knot and hang on!"
   Franklin D. Roosevelt



(4 comments)

lenders: BSB....Buyer Seller Beware - 06/26/09 07:27 AM

 
Wednesday morning Alamo Title sponsored a Builder Lender Forum lead by Mark Sprague with Residential Strategies.  I was one of 4 Realtors to participate representing the realtor community.  What an eye opener!
Under discussion were several hot topics.  One issue the Home Valuation Code of Conduct (HVCC) was highly debated.  Of course everyone agreed there is room for improvement in the way pressure is applied to appraisers to make value on a property.  However, the consensus felt the new code is not proving to hold protection for the homebuyers, mortgage investors and the housing market.  In fact it is … (8 comments)

 
Dorie Dillard CRS  GRI  ABR, Serving Buyers & Sellers in NW Austin Real Estate  (Coldwell Banker United Realtors® ~ 512.750.6899) Rainmaker large

Dorie Dillard CRS GRI ABR

Serving Buyers & Sellers in NW Austin Real Estate

Austin, TX

More about me…

Coldwell Banker United Realtors® ~ 512.750.6899

Address: 9442 N. Capital TX Highway, Plaza One Suite 625, Austin, TX, 78759

Mobile: 512-750-6899

Office: dillard@reloaustin.com

Email Me

Welcome to my ActiveRain real estate blog and profile. I'm a Realtor with Coldwell Banker United and specialize in NW Austin. Once a school teacher I still like the learning process. Only now I enjoy learning what dreams my clients have and what I can do to help them. Call me at 512.346.1799 save Dorie Dillard | Create Your Badge


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