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Proposal by President Bush to save homebuyers an average of $700 in closing costs

By
Real Estate Agent with Coldwell Banker United Realty Professionals

"These mortgage agreements can be pretty frightening to people," "There's a lot of tiny print", says President Bush in a speech on the economy.

A proposed revision by HUD to the thirty four year old Real Estate Settlement Procedures Act mandating a federal disclosure form be given to consumers buying or refinancing homes to include a summary of loan terms, interest rate and monthly payment, whether the interest rate and principal can increase, whether the loan has a prepayment penalty or balloon payment, and settlement costs would create a better understanding of these terms and would save a prospective home buyer an average of $700 in closing costs.

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The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm
Mar 17, 2008 05:26 AM
Dwayne West
Atlanta Real Estate - Canton, GA
Canton Georgia Real Estate
Hello and welcome to Active Rain. You will really like this community of real estate and mortgage professionals.
Mar 17, 2008 05:27 AM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Sue,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith

Mar 17, 2008 06:56 AM
Dorene Shirley
The Mortgage & Property Connection - Campbell, CA
Silicon Valley Real Estate

Sue - Welcome to the Rain, make sure that you browse the site and become familiar with everything this site has to offer.  The more you browse the more you will learn.  I have found this site to be really helpful to me.  If you have any questions, please don't hesitate to email me, I will do whatever I can to help.

http://www.doreneshirley.com/

Mar 17, 2008 11:11 PM