Housing Wire

MAY 11, 2023

The Flueid Decision integration, built on the Encompass Partner Connect API Platform, provides greater transparency and awareness of the property’s title condition from borrower engagement through closing, according to the company.

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Housing Wire

MARCH 2, 2021

Add the fact that lenders are not only dealing with a remote workforce these days, which is an operational challenge in itself, they are also facing a major shortage of qualified appraisers, underwriters and other operational staff in certain markets, which could cause even longer closing delays. It’s easy to see why.

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Housing Wire

DECEMBER 14, 2023

In 2023, Fannie Mae and Freddie Mac announced plans to make it easier to buy a home and close the racial homeownership gap in the United States. Specifically, title and settlement fees have been characterized as a high-burden and regressive (costing proportionally more for low- and moderate-income borrowers) cost to borrowers.

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Housing Wire

APRIL 18, 2022

The American Land Title Association (ALTA) and its members worked closely with the Consumer Financial Protection Bureau (CFPB) to help develop regulations for TRID, which went into effect in 2015. Research released in 2020 by the CFPB showed TRID has helped consumers better understand their costs when closing on a home.

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Housing Wire

MARCH 9, 2021

How hybrid title and valuations help increase lending efficiency. Why use several vendors for title searches, appraisals and underwriting when you can use one? That general principle holds true for the title and settlement services space as well. My recommendation for lenders is applicable to the title industry, too.

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Housing Wire

APRIL 10, 2023

Peter Richter: The concept of “instant title” means delivering a title commitment “instantly” upon ordering title insurance. Unfortunately, that “instant” title commitment itself does not inherently equate to a faster close, as my colleague Matt Regan outlined in his recent article.

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Housing Wire

OCTOBER 29, 2021

Today, borrowers expect to close fast. A small issue within the title process can have an impact on the length of the closing process, impacting mortgage lenders and borrowers. HousingWire: How did the title business adapt to unique conditions caused by the pandemic, the growth of the remote workforce and low interest rates?

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Housing Wire

DECEMBER 26, 2022

At many title firms, the slowdown in homebuyer demand, due to rising mortgage rates and higher home prices, meant a decrease in order volumes. In addition, nearly $69 billion in HELOC credit limits and $27 billion in closed-end home-equity loans were originated over the first five months of 2021.

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HomeLight

AUGUST 20, 2021

If you’re selling a home in Connecticut, you should familiarize yourself with closing costs that sellers pay to finalize the transaction. The average closing costs for home sellers fall between 6% to 10% of the home’s sale price. Some closing costs apply to nearly every home sale. Source: (Roger Starnes Sr / Unsplash).

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HomeLight

NOVEMBER 9, 2021

The sales price of your home may appear to offer a good profit margin, but before you start putting those expensive items from your wishlist into your shopping cart, first you must subtract all the closing costs New York homeowners have to pay. Sorry, New York sellers, but you are responsible for quite a few closing costs.

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Marco Santarelli

DECEMBER 20, 2024

With a better financial profile, you might qualify for a loan with a shorter term, helping you build equity faster and own your home sooner. A quarter-point increase from 5% to 5.25% adds close to $40 to your monthly bill. Title Search and Insurance: These fees are related to verifying ownership and protecting the lender's interest.

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HomeLight

APRIL 14, 2023

But even though the monthly mortgage payments fit into your budget, you’re concerned about coming up with enough cash for a myriad of closing costs in addition to the down payment. Find a Buyer's Agent What are closing costs? Although the down payment is not part of your closing costs, it is typically due at the same time.

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HomeLight

APRIL 14, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Michigan? Your closing costs may differ depending on your circumstances and the terms of your home purchase. Find a Buyer's Agent What are closing costs? The example costs provided are based on median home prices and typical fees.

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HomeLight

APRIL 20, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Pennsylvania (PA)? Your closing costs may differ depending on your circumstances and the terms of your home purchase. While some fees are only a few hundred dollars, the final closing costs can run into the thousands.

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HomeLight

MARCH 31, 2022

As housing prices skyrocket, many homeowners are considering ways to turn their growing home equity into cash. If you’re one of the 6 million Americans projected to sell a home this year, you may be trying to figure out exactly how much of that increasing equity will end up in your pocket after all is said and done. Title insurance.

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HomeLight

JULY 12, 2024

Unlock Your Equity and Buy Before You Sell Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Here’s what you can expect: Title search: Verifying the property’s legal ownership and any existing liens or claims.

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HomeLight

MARCH 6, 2023

The Bay Area is also close to beaches, national parks, and the wineries of Napa Valley. Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Loans are between 3%-3.5%

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HomeLight

DECEMBER 23, 2021

Essentially, title and deed are both related to the important question of who truly owns a particular piece of real estate and has the rights to it. Let’s take a deeper look at what a house title is; the different types of deeds used in real estate; and related terms including chain of title, title search, title insurance, and title abstract.

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Real Trends

MARCH 9, 2022

While title insurance may be less understood by homebuyers, who may see it as just another fee involved in the closing process, it’s important for them to understand the many benefits title insurance provides and the dangers that can be incurred without it. Diane Tomb is the CEO of the American Land Title Association.

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Realty Biz

AUGUST 12, 2023

Equity : The difference between the current market value of your home and the amount you owe on your mortgage. As you pay down your mortgage or if the value of your home rises, your equity increases. Closing Costs : Fees and other costs that need to be paid when closing on a house. Common terms are 15, 20, or 30 years.

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HomeLight

JULY 11, 2023

In this guide, we’ll fill you in on everything you need to know about selling a house with a lien and the steps to take to get to the closing table. Sometimes the easiest way to sell a house with a lien is to get a cash offer from an investor who is familiar with the process of resolving the title issue and can walk you through it. “The

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RIS Media

SEPTEMBER 21, 2020

Closing : A meeting during which ownership of a home is transferred from seller to buyer, usually attended by the buyer, the seller, both real estate agents and the lender. Closing costs : Fees associated with the purchase of a home due at the end of the sales transaction. Mortgage interest rate : The price of borrowing money.

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HomeLight

JANUARY 5, 2022

For example, if you offer your friend a discount on your home – intentionally or not – it may be considered a “gift of equity” subject to gift taxes. That way, you can provide documentation to your tax advisor to determine if you made a gift of equity to your friend. Most buyers opt to have a home inspected before closing.

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HomeLight

NOVEMBER 21, 2024

When you refinance, you take out a new loan, which usually involves significant closing costs. This means that if you refinance a $300,000 loan, you might spend $9,000–$18,000 in closing costs. How much will you pay in closing costs? Closing costs on a refinance typically range from 3%–6% of the loan amount.

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Realty Biz

FEBRUARY 19, 2024

Can you imagine buying a lot only to discover it has crept too close to the neighboring lot line? The parcels that dragged my portfolio down were the ones where I just thought “Oh that’s great discount for this piece of property, I know I’m buying it with equity, I’ll just list it for full market value and see who comes along.”

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Marco Santarelli

DECEMBER 29, 2024

This upward trend in rates can be attributed to renewed investor interest and adjustments in long-term bond yields, which are closely linked to mortgage rates. Refinancing can be an effective way to lower your interest rate, reduce your monthly payments, or take cash out of your existing home equity. Refinancing: Is It Right for You?

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Redfin

JANUARY 28, 2025

Both the buyer and seller must work closely with the lender to ensure compliance with the loans terms and approval requirements. However, there are other costs you need to account for in addition to the loan itself, such as: Equity payment: Youll need to pay the seller for the equity theyve already built up in the home.

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HomeLight

AUGUST 24, 2022

Let’s review some of the top reasons to work with a cash home buyer in Florida: Faster time to close. These buyers typically have more cash on hand — or more equity in their primary homes up North — which enables them to purchase a Florida home without having to obtain financing. The buyer runs a title search on the property.

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HomeLight

SEPTEMBER 13, 2022

Using one of these options is prudent when selling to a family member since controlled transactions are typically watched more closely by lenders and the IRS due to a higher risk of fraud. Closing timeline. Closing costs , and who will be paying them. Perform a title search. Down payment amount.

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HomeLight

AUGUST 31, 2020

This means that you cannot sell your house and pocket any equity from the sale until that tax lien debt is satisfied. As that tax debt piles up, it’ll swiftly eclipse any equity that you’ve built up in your home. Tax liens are discoverable during a title search — even if the lien data isn’t an exact match.

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HomeLight

AUGUST 31, 2021

It’s the moment when you can’t bear to see another piece of paper related to your home sale that you’ll receive the settlement statement — also known as a closing statement in real estate. Sellers can expect to pay between 6%-10% of the final sale price in commissions and closing costs, so it’s nice to see exactly where that money is going.

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Redfin

DECEMBER 15, 2023

While this might sound like a small difference, it can translate into substantial savings over time including lower monthly payments, paying off the mortgage quicker, and even allowing homeowners to tap into their home equity for other expenses. Typically, the longer you’ve lived in your home, the more equity you have.

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Redfin

FEBRUARY 21, 2025

Whether you’re preparing for a move, considering a home equity loan, or simply maintaining your propertys clean title, uncovering liens early can save you from unexpected costs and stress down the road. Many counties maintain online databases where you can search property records by address or the owner’s name.

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HomeLight

JUNE 19, 2023

Sellers want to see that you can cover the down payment and closing costs. Other examples of documentation for proof of funds that a seller might accept include a bank statement, a copy of a money market account balance, or an open equity line of credit. Before you purchase the land, make sure the land has a clear title.

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Redfin

SEPTEMBER 4, 2024

Refinancing your mortgage can be a strategic move to either lower your monthly payments, shorten your loan term, or tap into your home’s equity. From application fees to closing costs, this Redfin article will discuss everything you need to know to help make this financial decision. the short answer is, “It depends.”

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Redfin

MARCH 2, 2021

If you’ve lived in your current home for many years, you may reach the point where you’ve made your final mortgage payment or are very close to paying off the house. Your home now represents pure equity; funds that could come in handy to pay for unexpected major expenses, medical bills, or any kind of financial emergency.

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HomeLight

DECEMBER 2, 2021

Kentucky-based Dianna Caldwell , a seasoned agent with 16 years of industry experience under her belt, gave us a rundown of seller costs and what homeowners should budget before they sit down to the closing table. Accounting for your payoff amount will help you determine how much cash you’ll net after your home sale closes. Notary fee.

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