tag:searchlightcrusade.net,2024:/mt//feed/prepaids 2024-04-26T04:40:00Z Movable Type 4.21-en 11 1 11 tag:gockel.hmdnsgroup.com,2006:/~searchli//3.2435 2023-08-28T14:00:00Z 2023-08-28T16:04:56Z Dan Melson http://www.searchlightcrusade.net/ I've seen a fair number of questions on impound accounts in the last several months. An impound account, also known by the confusing term escrow account because the lender is holding it in escrow, is money that you give the... tag:www.searchlightcrusade.net,2009://3.4505 2021-07-14T14:00:00Z 2021-07-14T12:23:05Z Dan Melson http://www.searchlightcrusade.net/ One thing that is very common in the mortgage industry is masking loan costs by rolling them into your loan balance. People are less sensitive to being asked to roll this money into their loan balance than they are about... tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2738 2021-04-30T14:00:00Z 2021-04-30T13:29:53Z Dan Melson http://www.searchlightcrusade.net/ Many people are uncertain as to what closing costs are. Basically, they relate to the costs of doing the transaction. There are people who work on getting your loan through the process of approval and funding, and those people have... tag:gockel.hmdnsgroup.com,2006:/~searchli//3.2504 2020-09-14T14:00:00Z 2020-09-14T15:55:17Z Dan Melson http://www.searchlightcrusade.net/ I have mentioned this form several times in the past as the only form in the entire real estate loan process which is actually required to be accurate. Department of Housing and Urban development form 1, the so-called HUD 1... tag:gockel.hmdnsgroup.com,2006:/~searchli//3.2488 2020-08-31T14:00:00Z 2020-08-31T13:52:51Z Dan Melson http://www.searchlightcrusade.net/ I've said upon more than one occasion that the factors at closing are all in the loan provider's favor. Unless they signed up for multiple loans, the typical consumer has no leverage to get the loan provider to play it... tag:www.searchlightcrusade.net,2008://3.4067 2008-08-06T14:00:00Z 2008-08-06T13:58:57Z Dan Melson http://www.searchlightcrusade.net/ The answer isn't quite "Their lips were moving," There are some lenders who make a habit of quoting real loans at real costs that they have reason to believe they can deliver. With probably a much larger number, however,... tag:gockel.hmdnsgroup.com,2006:/~searchli//3.2552 2008-04-20T14:00:00Z 2009-12-10T14:22:37Z Dan Melson http://www.searchlightcrusade.net/ UPDATE: This article is still good for a basic understanding. However, for an article written specifically for the new form that becomes mandatory January 1, 2010, please go to the 2010 Good Faith Estimate (Continued from Part I) Below the... tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2823 2007-06-14T17:01:22Z 2022-06-13T16:55:06Z Dan Melson http://www.searchlightcrusade.net/ One thing that is very common in the mortgage industry is masking loan costs by rolling them into your loan balance. People are less sensitive to being asked to roll this money into their loan balance than they are about... tag:gockel.hmdnsgroup.com,2005:/~searchli//3.1834 2005-07-19T16:01:05Z 2021-11-23T16:30:28Z Dan Melson http://www.searchlightcrusade.net/ I have mentioned this form several times in the past as the only form in the entire mortgage process which is actually required to be accurate. Whoever your provider is, this is the one form they cannot play games with.... tag:gockel.hmdnsgroup.com,2005:/~searchli//3.1832 2005-07-18T17:00:48Z 2021-11-23T16:29:40Z Dan Melson http://www.searchlightcrusade.net/ I've said upon more than one occasion that the factors at closing are all in the loan provider's favor. The typical consumer has no leverage to get the loan provider to play it straight at closing, and actually deliver what... tag:gockel.hmdnsgroup.com,2005:/~searchli//3.1740 2005-06-19T10:16:18Z 2007-09-09T03:28:31Z Dan Melson http://www.searchlightcrusade.net/ (Continued from part I) Below the "Estimated Closing Costs" line, there are three more sections. The first is "Items required by lender to be paid in advance." These are not negotiable - they are what they are, and except for...