The Federal Reserve finally got around to tightening mortgage lending standards, in hopes to eliminate some of the shady practices that have made purchasing a home very expensive. Allot of the Fed’s changes make sense, especially the ones that require hidden broker and junk fees to be clearly disclosed.
To drive the mortgage scammers out of business, obviously, you need to enforce the current regulations already on the books. Hopefully enforcement from the Fed and others will follow after all this regulatory talk.
National Relocation mortgage section offer a great way to compare mortgage points, interest rates and fees. They want to empower consumers to make informed real estate decisions and help them cut their mortgage transaction costs.
Whether you are refinancing or doing a home purchase. It is very important to do your research ahead of time like school districts and neighborhood information about the areas you are considering. National Relocation can also help you with other great relocation services and providers.
If you are in search of a great Realtor you can find one on the site as well. They can help you locate a foreclosure or give you home values of any area they serve. It is important to interview the Realtor you are considering and ask for references of past clients to see how they have performed in the past.
We stumbled across another site that is in Beta - FeeDisclosure.com. This web site is supposedly helps consumers protect themselves from excessive fees and hidden relationships that can drive up the costs of buying a home. The founders of this Westlake Village, Calif are: Michael A. Kratzer, 42, and Mark Zimmerman, 35. They have spent four years developing the software upon which it is built. Both men have spent many years in the business. This site might be worth researching further.