respa: What Constitutes Closing Costs? - 02/27/09 02:10 AM
Closing costs are expenses that cover fees associated with the transfer of property ownership, fees paid to state and local governments, and the costs of obtaining a mortgage loan. Some of these fees are negotiable, and could be paid by either the buyer or the seller. Some costs are one-time fees (non-recurring closing costs, such as title search, termite inspection, appraisal, etc.); while other fees such as homeowner's insurance or property taxes are things you will expect to continue to pay on a regular basis as a homeowner.As part of the loan selection process, your mortgage consultant should be giving you … (2 comments)

respa: Is this Fannie Mae or Freddie Mac? - 08/20/08 01:57 AM
I spent Monday evening at the apartment of a First Time Home Buyer going through her initial RESPA disclosures.  My client is young and nervous.  She read the paperwork more thoroughly than I have ever seen in my 5 years of originating mortgages.  She obviously understands the magnitude of the transaction.  As she carefully read each page that she was about to sign, she asked many of the same questions I have heard time and time again. 
Quite a bit of my business involves working with First Time Home Buyers.  They are typically not the largest deals, and usually involve more … (0 comments)

 

Karl Peidl

Accredited Loan Consultant

Moorestown, NJ

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Address: 305 Harper Drive, Suite 3, Burlington County, New Jersey, Moorestown, NJ, 08057

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