The Question My lender is requiring that I pay off some credit cards and my car in escrow. Can you tell me how that works? The Answer Great question! You may already know this, but one component of qualifying for a home loan revolves around your ‘debt...
When it comes to opening escrow on a home, there are a lot of moving parts! A question that we get asked a lot about are impound accounts, so we wanted to take this opportunity to explain them in more detail. If you aren’t sure...
What’s a property deed is a common question, so today, we wanted to share some information we hope you’ll find helpful. Let’s start with the basics. In every real estate purchase or sale, the home buyer is granted a property title from the home...
A common document that a borrower will come across during the escrow process is the “Notice of Right to Cancel” (also known as the “Rescission Document” or the “Three-Day Notice of Cancellation”). This document is an important one, so today, we wanted to share with you...
There is no shortage of paperwork during the escrow process, and we understand this can be a bit overwhelming, especially for first time home buyers or sellers. To help, we wanted to share with you some information about the Statement of Information - what it...
California requires that income tax for the sale of a home sale must be withheld. Today, we’ll share with you more information about this form, why it's important and key information you'll want to know about before completing it. So, let’s get started! What is the...
Check out our latest video to help people understand what goes on in an escrow! ...
The language of escrow and the real estate transaction doesn't need to be a stumbling block; once you know the terms, these words become what they are meant to be - valuable tools to help smooth the road to a successful transaction. Contingency This is a clause...
Understanding contingencies is important when you are considering making an offer on a property. A contingency is a condition in the Purchase Agreement that allows the buyer(s) to remove themselves from the contract with their deposit refunded if certain conditions are not met after their...
We did an analysis of what effect the #TRID implementation had on the median days to close for all closings before the 10/3/2015 implementation of TRID and all closings under the new rule which were opened after 10/3/2015. Here’s the data for Refis (R) and Resales (S). We have...