Archives for December 2009

New HUD-1 and GFE in 2010 to Help Borrowers Compare Settlement Fees

If you are purchasing home that goes to settlement after January 1, 2010 you will be provided with a revised HUD-1 and Good Faith Estimate (GFE).  These forms have been updated to help borrowers compare settlement estimates with the actual fees charged at closing. Entire article here - REALTOR® Magazine-Daily News-New Rules to Clarify Fees. Fees are divided into three categories: Fees that cannot increase from upfront estimates to closing, … [Read more...]

Fannie Mae’s Deed-for-Lease Program (D4L)

There are many programs available to help the 1 in 4 Americans facing foreclosure. D4L is one option that you many qualify to use. Fannie Mae's D4L program allows eligible borrowers facing foreclosure (or their tenants) to stay in their primary residences. Under D4L, the borrower transfers ownership of the property to the lender through a deed-in-lieu of foreclosure and the borrower (or the tenant) signs a lease for up to 12 months. See the … [Read more...]