Federal Title & Escrow Company's Blog

Title Insurance - Federal Title & Escrow Company
Real estate articles for agents, mortgage lenders, homebuyers and homeowers looking to refinance.
Big changes are on the way that will impact real estate agents, lenders, buyers and sellers alike. Come August 1, the HUD-1 is out and the Closing Disclosure form (CDF) is in.    A new form inevitably means new procedures and deadlines to observe, which is why we've put together this list of thin...
Have you ever been showing a house to a homebuyer and had them ask you what their total closing costs would be? Wouldn't it be great if you could answer that question right on the spot?  Now there's an iPad app that produces a detailed picture of cash to close and monthly mortgage payments for ho...
Our marketing team has received word from the office of Congresswomen Eleanor Holmes Norton (D-DC) that DC's popular $5,000 Homebuyer Tax Credit has not been renewed. We're told the Congresswoman is working on a plan to get the credit reinstated. That means first-time homebuyers who may have othe...
For Maryland homeowners who wish to submit their one-time application to confirm eligibility for the homestead tax credit, the deadline is finally approaching.  Every principal residence homeowner in Maryland should follow these steps to make sure that their property is registered and eligible fo...
We're about to see some big changes regarding the delivery of HUD-1 Settlement Statements and Truth-in-Lending Disclosures, which could result in added cost and closing delays for homebuyers, if the Consumer Financial Protection Bureau's new rules go into effect as proposed. The CFPB rule would m...
After 16 years of handling real estate closings, I could easily provide 100 examples of why a borrower, whether a homebuyer or a refinancing homeowner, should choose a local title company rather than allowing a national "out-of-town" title company to handle your real estate closing.  But allow me...
Whenever a real estate settlement is close to a property tax due date, the potential for a post closing property tax issue increases.  Simply, it is a matter of bad timing. Here are a couple escrow issues that can cause problems for home sellers who are planning to close near a property tax due d...
While this would seem to be obvious, purchasers should pay close attention to exactly what they are buying.  I am not referring to inspection issues, I am referring to something that seems obvious, but does occasionally come up as a problem. Here are some real scenarios where an individual bought...
If you are about to refinance your mortgage, your mortgage lender has or will soon provide you with a Good Faith Estimate (GFE) which will include, among other costs, a line item charge for title insurance.   Although you are required to pay for it, this is "lender’s" title insurance as opposed t...
Home Equity Lines of Credit (HELOCs) may be difficult to obtain in today’s market, but not too long ago, everybody had one.  Recently, a series of closings were delayed in our office due to issues with HELOCs, and I expect that dealing with HELOCs will only get worse.    There are several reasons...

Todd Ewing

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