Mason County offers “Fraud Notify,” a free service that alerts Mason County property owners whenever a document is recorded against their property. This service helps protect them from unauthorized or fraudulent activity. Here’s how it works:...
In the real estate industry, the term “escrow” can refer to two distinct concepts with each an important part of the property buying process. If you are involved in buying a home, know the difference between “being in escrow” for a real estate...
Understanding the mechanics of loan assumptions and the role of escrow is crucial for home purchasers when navigating a transaction involving a conventional or VA loan assumption. A loan assumption occurs when a buyer takes over the seller’s existing mortgage...
Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a loan.
Like the video says: debts are existing financial commitments; a car payment is a debt a...
What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over time. It’s a longer-term view that goes...
As this video explains, Federal laws put into effect in 2014 and supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new category called “Qualified Mortgages.” They provide stable loan...
