Source: CALIFORNIA ASSOCIATION OF REALTORS®
Starting July 30, 2009, if the APR on an initial Good Faith Estimate is no longer accurate (within a 0.125% range) at close of escrow, a lender must generally provide a residential borrower with a new disclosure and a three-day right to rescind before consummating the loan. REALTORS® are [...]
Entries from July 2009
July 17, 2009
NEW LOAN DISCLOSURE RULES MAY POTENTIALLY AFFECT CLOSE OF ESCROW
July 3, 2009
Searching for a bottom in the housing market
Searching for a bottom in the housing market
With consumer confidence rising in May to its highest level in eight months, housing starts increasing more than 17 percent in May compared with the previous month, and sales of existing homes climbing 2.9 percent in April nationwide, it appears that the housing market may be stabilizing.
MAKING SENSE [...]
July 1, 2009
May home sales increased 35.2 percent, price declined 30.4 percent
May home sales increased 35.2 percent, price declined 30.4 percent
Home sales increased 35.2 percent in May in California compared with the same period a year ago, while the median price of an existing home declined 30.4 percent, C.A.R. reported last week. “With affordability for first-time buyers at a record high, sales of existing, single-family homes [...]
