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DeSantis stamps changes to reverse mortgage tax requirements in Florida

Housing Wire

Ron DeSantis (R) signed a bill into law this week that changes certain requirements for the state’s reverse mortgage borrowers, a move that the National Reverse Mortgage Lenders Association (NRMLA) says could save money on closing costs. This will now be changed, according to provisions of the law as analyzed by the committee.

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Rocket launches its first credit card to attract buyers, homeowners

Housing Wire

Those looking to buy a home can earn 5% back by using the Rocket Visa Signature Card for up to $8,000 that can be used toward closing costs and down payments. Homeowners who are making monthly mortgage payments to Rocket Mortgage can use their card points to receive 2% of their card spending toward their unpaid principal balance.

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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points. “But agent commissions have never been a closing cost from a buyer perspective. Grant said.

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Fannie Mae to accept lender-funded down payment assistance

Housing Wire

Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The loan must be secured by a principal residence. The change could give nonbank lenders a way to guard against redlining accusations.

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Success Real Estate in Boston mysteriously shuts down

Housing Wire

The Boston 25 News article quotes a real estate attorney not connected with the firm, Richard Vetstein, a principal of Vetstein Law Group in Framingham, who speculated that the shutdown could be due to embezzlement of escrow funds.

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Closing Costs in Illinois: A Guide for Sellers

HomeLight

Understanding the financial aspects of closing costs is an important factor when selling your home in Illinois. Closing costs are various fees that sellers need to cover to finalize the sale of their property. These costs can include agent commissions, property taxes , and other necessary fees tied to the closing process.

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Closing Costs in Colorado: A Guide for Sellers

HomeLight

When selling a home in Colorado, understanding closing costs is important. Closing costs refer to the various fees and expenses that sellers typically incur to finalize the sale of their property. These costs include things like loan payoff amounts, real estate agent commissions, and more. What are closing costs?