by Jennifer Ferri | Apr 11, 2024 | Blog, Financing, Uncategorized
When it comes to real estate transactions, understanding the complexities of mortgage liens and mortgage lien releases is fundamental. A mortgage lien is a legal claim against a property, serving as a notice that the bank (lender) holds a secured interest in the...
by Jennifer Ferri | Jun 29, 2023 | FDIC, Financing
The FDIC protects bank deposits In light of multiple bank failures, sellers and buyers should understand how the FDIC protects bank deposits, including title agency funds, escrow funds and independent customer funds. The following outlines government guidance and...
by Jennifer Ferri | Feb 23, 2023 | Financing
Proper budgeting can save you a lot of hassle. Budgeting can be hard and at moments feel impossible but the importance it plays in our everyday lives is crucial for those curve balls we tend to see keep popping up. You get sick and miss a week of work, it sets you...
by Jennifer Ferri | Feb 9, 2023 | Closing Disclosure Form (HUD1), Financing, Loan Estimate Form (GFE), TRID
The definition of a “business day” is slightly different for Loan Estimates and Closing Disclosures. For Loan Estimates, each day on which a creditor’s offices are open to the public count as a business day. Loan estimates must be delivered or placed in the...
by Jennifer Ferri | Jan 26, 2023 | Buying, Financing, Sales Process
Earnest money is money you put down to demonstrate your seriousness about buying a home. It must be substantial enough to demonstrate good faith and is usually between 1-5% of the purchase price. However, the amount can vary depending on local customs and...
by Jennifer Ferri | Dec 29, 2022 | Buying, Closing Disclosure Form (HUD1), Financing, Loan Estimate Form (GFE), TRID
Looking to buy a home in the Fort Myers or Cape Coral areas and wondering if your settlement charges can change if you are in the middle of the closing process? Yes, your settlement charges can change if circumstances change, such as: A natural disaster damages...
