If you're a homebuyer currently in the market, you've probably already heard about the new CFPB procedures that took effect OCT 3, 2015. If you plan to buy soon, or in future, you can begin studying now. It will be in your best interest to understand all of the new forms, procedures, and requirements that are now part of the home buying and home selling process. When you are talking to agents, loan officers, and choosing a title company to handle your closing, the more you " Know Before You Owe", the better.
Don't burn yourself out, so I recommend you start with one item, study it, make a list of any questions that you have, and once you are clear one step, you can proceed to the next step. I've included a link below on one of the new changes. The " Loan Estimate", aka the LE. You should be familar with the terms, as well as A. " General requirements for the Loan Estimate". B. " Timing and Delivery of the Loan Estimate". C. "Revisions to the Loan Estimate". D. "Tolerances" E. "List of Service Providers" F. "Highlights and Options on the Loan Estimate". Much can be learned from the link below. What you don't understand can be explained by loan officer, agent, or title company.
http://www.consumerfinance.gov/owning-a-home/loan-estimate/
If you need help buying or selling under new Guidelines that took effect OCT 3, 2015
Call
Jeff Pearl | Lic in VA
Remax Distinctive | mcLean VA
703-727-4876
Homes | Land | Farms | Historic
Equal Housing
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