After the lender's real estate attorney, also known as the closing attorney, explains at closing to the homebuyer that by signing the "note" he or she is promising to pay the loan amount back, homebuyers are sometimes surprised when the attorney then presents the mortgage document to be signed.
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Topics:
Home-buying Tips,
Mortgages 101
If you follow the stock market you know it has been a wild ride this week and for most of the new year.
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Topics:
Mortgage Rates & News
Massachusetts homebuyers will not just be paying more for houses and interest on home loans in 2016. They'll be paying about 4 percent more for property taxes, according to an analysis by The Boston Globe of 328 of the state's 351 communities for which comparable data were available.
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Topics:
Real Estate Market,
Home-buying Tips,
Community Information
The new Truth-in-lending RESPA Integrated Disclosure (TRID) rules, which went into effect in October, came with some new real estate industry jargon, as well as a new tool for homebuyers to compare home loans offered by competing lenders.
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Topics:
Home-buying Tips,
Mortgages 101,
Mortgage Rates & News
Massachusetts homebuyers, especially in the Greater Boston area, have seen real estate inventory decline for several years, and some real estate professionals believe rising mortgage interest rates may exacerbate the situation.
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Topics:
Real Estate Market,
Real Estate Misc.,
Mortgage Rates & News
Single-family home sales in Quincy, Massachusetts declined in November, but median prices increased, according to the Greater Boston Association of Realtors. The following are five real estate market statistics Quincy homebuyers should know.
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Topics:
Real Estate Market,
Community Information,
Massachusetts Home Prices,
Quincy MA
Despite concerns among potential Massachusetts first-time home buyers over the Federal Reserve raising short-term interest rates and how that might eventually affect mortgage interest rates, 30-year, fixed-rate interest rates for home loans have declined and remain low.
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Topics:
Mortgages 101,
Mortgage Rates & News
Through the first 11 months of 2015, the median price and number of single-family home sales in Billerica, Massachusetts increased, according to data compiled by the Massachusetts Association of Realtors. The following are some real estate market statistics Billerica homebuyers should know.
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Topics:
Real Estate Market,
Community Information,
Massachusetts Home Prices,
Billerica MA
Milford, Massachusetts single-family home sales and median price increased through the first 11 months of 2015, according to data compiled by the Greater Boston Association of Realtors. The following are real estate market statistics Milford homebuyers should know.
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Topics:
Real Estate Market,
Community Information,
Massachusetts Home Prices,
Milford MA
Massachusetts lenders have increased the number of foreclosure petitions for nearly two years straight, but a company that tracks the industry believes the increase is the result of a backlog and not new mortgages going into default.
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Topics:
Real Estate Market,
Foreclosure News,
The Warren Group
Many real estate professionals wondered whether Thanksgiving and new federal regulations were going to slow home sales in November. In addition to holiday preparations in November, the new Truth-in-lending RESPA Integrated Disclosure (TRID) rules took effect for mortgage applications made on or after October 3, 2015.
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Topics:
Real Estate Market,
Massachusetts Home Prices,
The Warren Group
If Boston renters needed one more reason to make buying a home their New Year's resolution, landlord's happily provided it. Boston area rents jumped 7 percent to an average $2,245 in November compared to November 2014, the Boston Business Journal reported December 31, 2015. Zillow, a real estate data company, revealed the rental information in a new report on December 30, 2015.
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Topics:
Real Estate Market,
Real Estate Misc.