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VP of Legal and Compliance for Keller Williams Realty International
Come January 1, 2010, the new and improved Real Estate Settlement Procedures Act of 1974 (RESPA) will be fully en force. Considering this is the first sweeping change in the home buying process since 1974, it is worthy of our full attention. The new RESPA means more than new forms-it means major changes in the way real estate closings happen.
More to follow…
Buyers seeking FHA funds, per HUD Secretary Shaun Donovan last week, says they will be met with tougher credit standards and higher fees. Permissible “Seller Assist” or concessions will also be cut per the, Realty Times - Washington Report.
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