homebuying: How much $$$ do I need to close? There's an app for that - 05/21/13 01:32 AM
Have you ever been showing a house to a homebuyer and had them ask you what their total closing costs would be? Wouldn't it be great if you could answer that question right on the spot? 
Now there's an iPad app that produces a detailed picture of cash to close and monthly mortgage payments for homebuyers as well as cash in pocket for home sellers. It's available for free download in the App Store.
Download the app now >>
Close It is sort of like Turbo Tax for real estate agents. We've tested the results over and over, and they are … (0 comments)

homebuying: Homebuyers: Do you know what you are buying? - 09/17/12 05:13 AM
While this would seem to be obvious, purchasers should pay close attention to exactly what they are buying.  I am not referring to inspection issues, I am referring to something that seems obvious, but does occasionally come up as a problem. Here are some real scenarios where an individual bought something that was not exactly what they were expecting.
SCENARIO 1: I bought more land (and headaches) than I thought! Upon review of the survey, the purchasers realized that the property line in the back of the property did not end at the fence, but continued back another 100 feet.  While … (0 comments)

homebuying: What you should know about ground rents - 06/11/12 03:30 AM
A ground rent refers to a scenario where an individual owns his house, but someone else owns the actual property (the “ground”). The homeowner pays the ground rent owner an annual fee, or a ground rent, as a rent on the land.   In Baltimore, this form of ownership dates back to the 18th century. The intent was to make homeownership affordable, by allowing purchasers to only have to buy the house, while paying an annual rent on the land.   Since many ground rent leases were established for 99 years, time and poor record-keeping made it difficult to know who … (2 comments)

homebuying: Study: D.C. Metro homebuyers save big by shopping for title services - 02/17/11 06:12 AM
Washington, D.C. (17 February 2011) – SHOPPING FOR TITLE SERVICES in the District of Columbia could save homebuyers up to $1,180, according to a recent study, while shopping in Maryland or Virginia could mean a savings of over $900. "This serves as a reminder to homebuyers and their agents the importance of shopping for a title company," said Todd Ewing, president of Federal Title & Escrow Company.
The study, commissioned by Federal Title and conducted by Veris Consulting from February 1 through February 11 of this year, compared title charges among Washington Metro Area-based title companies, revealing stark differences in charges … (2 comments)

homebuying: $5000 DC homebuyer tax credit renewed - 12/30/10 06:33 AM
Congress renewed the $5,000 DC homebuyer tax credit for another two years as part of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, the office of Congresswoman Eleanor Holmes Norton (D-DC) announced earlier this month.
The DC tax incentive will be retroactive for 2010 and continue through 2011.
"First-time homebuyers of a principal residence in the District, who meet income limitations and other eligibility guidelines may qualify for a one-time tax credit for up to $5,000 of the amount of the purchase price," Joe Gentile, vice president of Federal Title & Escrow Company, said.
To qualify as … (0 comments)

homebuying: A quick guide to VA loans - 12/16/10 06:05 AM
Active-duty service members and veterans may be eligible for a home loan guaranty program offered the Department of Veterans Affairs (VA), for purposes of purchasing or refinancing a home. What is a VA guaranteed loan?It is a loan that is made by a typical mortgage company, savings and loan, or bank, in which the VA guarantees a portion of the loan amount, thereby protecting the lender against loss if the mortgage payments are not made. The purpose of this program is to encourage lenders to provide veterans with more favorable terms on loans. For example, allowing the veteran to more easily … (0 comments)

homebuying: Homeowners Assistance Program - Part V: The closing process - 12/16/10 05:54 AM
Once a determination is made as to which benefits are most advantageous for the applicant, the closing process can finally begin. There are several noteworthy items to keep in mind at this time:1. Prior to closing, the applicant will need to ensure that their mortgage is paid current, including interest, late charges, fees and penalties. In addition, any homeowner’s association or condominium association dues will also have to be paid current.
2. If you are a PCS eligible applicant receiving Government Acquisition Benefits:
A. You will need to have certified funds sent to your Benefits Specialist to pay for interest due … (0 comments)

homebuying: Homeowners Assistance Program - Part IV: What are the benefits? - 12/16/10 05:51 AM
Once your application for Expanded HAP assistance is approved, a Benefits Specialist will be assigned to your file, and will immediately contact you to determine the appropriate benefits for your specific situation.
There are four types of benefits available under the Expanded HAP program. 1. Private Sale Benefits: If you have already sold your property or you are able to pay any loss on the sale at the time of closing, private sale benefits are paid directly to you after the closing. PCS and BRAC 2005 applicants would be reimbursed for 90% of the prior fair market value (defined as the price … (0 comments)

homebuying: Homeowners Assistance Program: Part III – How do you apply? - 12/16/10 05:46 AM
If you believe that you meet the eligibility criteria for Expanded HAP, as broken down in Part II of our blog, the next step is to submit an application with the Army Corps of Engineers for your respective district. Application packages can be downloaded from the Army Corps of Engineers HAP website, located at http://hap.usace.army.mil, along with mailing address for the respective district where they should be mailed. There is a checklist of items included with the application package that you will need to include, and in order for your application to be more readily processed, the Corps of Engineers recommends … (0 comments)

homebuying: Maximum VA loan county limits for 2011 released - 12/16/10 05:21 AM
The Department of Veterans Affairs Loan Guaranty Program recently published county “limits” to be used for VA Loans closing between January 1, 2011 through September 30, 2011. The limits for Fiscal Year 2012 have not yet been released. Please note, these limits do not reflect a maximum amount that an eligible veteran is permitted to borrow, but rather, reflects the VA’s maximum guaranty amount for a particular county. The maximum VA guaranty amount for loans over $144,000 is 25% of the 2011 VA limit. For example, an eligible veteran may borrow up to $818,750 to purchase a property in Washington, DC … (2 comments)

 
Todd Ewing (Federal Title & Escrow Company)

Todd Ewing

Washington, DC

More about me…

Federal Title & Escrow Company

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

Office: (202) 362-1500

Fax: (202) 362-5901

Email Me

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

If you would like to sign up for our monthly newsletter, please subscribe.



Links

Archives

RSS 2.0 Feed for this blog