Regulation Z and The Impact for Buyers in Cecil County MD

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

 

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.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Maryland Cecil County
Groups:
VBloggers
Tags:
cecil county homes for sale
exit realty chesapeake bay
rich cotton waterfront specialist

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
736,132
Robert Rauf
HomeBridge Financial Services (NJ) - 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 #1
Ambassador
1,187,395
Ralph Gorgoglione
Maui Life Homes / Metro Life Homes - Kihei, HI
Hawaii and California Real Estate (800) 591-6121

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

Apr 01, 2011 05:39 AM #2
Rainmaker
313,198
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 #3
Rainmaker
637,272
Maria Morton
Chartwell Kansas City 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 #4
Rainmaker
313,198
Rich Cotton
Rich Cotton The Waterfront Specialist EXiT Preferred Realty - Chesapeake City, MD
Waterfront Specialist Cecil and Kent Counties MD

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

Apr 03, 2011 04:25 AM #5
Rainmaker
736,132
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

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 #6
Anonymous
Anonymous

Robert,

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 #7
Rainmaker
736,132
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

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 #8
Rainmaker
313,198
Rich Cotton
Rich Cotton The Waterfront Specialist EXiT Preferred Realty - Chesapeake City, MD
Waterfront Specialist Cecil and Kent Counties MD

Robert,

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

Apr 05, 2011 10:07 AM #9
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
313,198

Rich Cotton

Waterfront Specialist Cecil and Kent Counties MD
Ask me a question
*
*
*
*
Spam prevention