Lawsuit: ‘Bank Overcharged for Flood Zone Determinations’ If you bought a home or refinanced with a Wells Fargo mortgage between August 30, 2011 and December 31, 2013, you may be entitled to a share of a class action suit against Wells Fargo. A very small share — like, $9.50 per claimant. The suit — formally...Read More
“A [Financial] Crisis is a Terrible Thing to Waste” Thanks(?) to global financial turmoil in the wake of diving energy prices (how’s that for a “pinch me” moment??), investors are running to the perceived safety of bonds. Result: mortgage interest rates are plummeting as well. The ten-year U.S. bond is now just above 2%. Meanwhile,...Read More
Financing New Construction There are a multitude of ways for Buyers to finance the construction of a new home, including going through the builder (especially true of the bigger ones). However, the two main choices from bank lenders are: 1) what’s called a “construction-to-perm(anent) loan”; and 2) an initial mortgage to purchase the lot, followed...Read More
. . . . Or One Realtors representing Sellers (better known as “listing agents”) tend to be a lot more focused on Written Statements — and specifically, Written Statement deadlines — than their clients. There are two reasons for that: 1) it can be a technical subject (see below); and 2) most Buyers’ lenders meet...Read More
Your client is interested in a Downtown Minneapolis loft (or condo); as their Realtor, what do you do first? A. Show them the unit, to see if they like it; B. Review the Association doc’s, to look for pet restrictions, prospective capital improvements, etc.; C. Check out the MLS price history, to see how long...Read More
Where Are Interest Rates Headed in 2014? There’s no mileage in being contrarian just for the sake of being contrarian. But, it’s uncanny — at least to me — how often conventional wisdom has a way being foiled. In that regard . . . there certainly seems to be a broad consensus at the moment...Read More
