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Contracts for deed are under federal mortgage protections: CFPB 

Housing Wire

The Consumer Financial Protection Bureau (CFPB) on Tuesday released an advisory opinion stating that contracts for deed are under federal home lending rules and should provide consumer protections. Home prices are usually inflated, inspections are not made, and loans have high interest rates and balloon payments. among subprime loans.

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CFPB Acts Against Contract-for-Deed Investors Targeting Low-Income Borrowers

Appraisal Buzz

While the industry is no stranger to predatory and/or unfair lending practices, new advisory opinion and research study on a type of home seller financing known as a “contract for deed” has been released by the Consumer Financial Protection Bureau (CFPB). The CFPB is had a field hearing in St.

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Selling your home to a family member in 5 easy steps

Housing Wire

Whether you’re a year away from selling or hoping to close in a few months, a timeline is important for all parties, especially if your family member needs to sell an existing home, secure financing, and arrange moving details. Discuss financing. Does your buyer need to secure a mortgage ? Are they buying with cash?

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What Does Under Contract Mean in Real Estate?

Raleigh Realty

What Does 'Under Contract' Mean in Real Estate? You've decided to buy a home and whether it's your first home or your tenth you're likely to stumble across homes that are listed as 'under contract' on the real estate listing. Then, you look at the status and that other shoe finally has a chance to drop: it's "under contract."

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A look at Knoxville’s hot housing market

Housing Wire

You set your appointments the night before, and when you get there that morning, they might already be under contract.” Generally, they go under contract in a day or two.” . “I never know how my day is going to go, because when a new listing comes on the market in Knoxville, the race is on.

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Working with buyers in the nation’s hottest housing market

Housing Wire

Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If

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The hybrid appraisal is here. Who benefits?

Housing Wire

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser. An offer comes in at 5 p.m.

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