New Homes in Houston TX by Long Lake

Lending Complications Arise from New Disclosure Forms

Recently, the Consumer Financial Protection Bureau (CFPB) announced new disclosure rules, which will go into effect this summer. While their activation is still months away, lenders are already weary that it will make the closing process much more complicated, and could possibly mislead consumers. “New disclosure forms for real estate transactions will completely change the homebuying process as it’s known …

New Homes in Houston TX by Long Lake

8 Mortgage Tips for First-Time Homebuyers

It’s rare to get something right the very first time you try it, but when it comes to buying your first home, a lack of knowledge and experience can lead to costly mistakes. One in four first-time homebuyers say they are completely unfamiliar with the mortgage financing process, according to a report by the Consumer Financial Protection Bureau. Even among those …

New Homes in Houston TX by Long Lake

Down Payment Programs

RealtyTrac recently released a Down Payment Resource (DPR) on the availability of down payment programs across the country. Out of more than 78 million U.S. single family homes and condos, more than 68 million (87 percent) would qualify for a down payment program available in the county where they are located based on the maximum price requirements for those programs and the …

New Homes in Houston TX by Long Lake

Housing Counseling Interest a Good Sign for Next Wave of Homeowners

Renewed interest in housing counseling is revealing that many are considering homeownership as a possibility for the first time. More than 73,000 people received housing counseling from National Foundation for Credit Counseling (NFCC) member agencies during 2014, making it the highest volume experienced in the past five years. “Seeing that more people are realizing the value of housing counseling is a sign …