divider

Fournier Law Blog

Intelligent legal insight from our team of experienced attorneys.

separator


CFPB Delays Mortgage Disclosure Rule until Oct. 1

/ 0 Comments

The Consumer Financial Protection Bureau has announced a two-month delay in the effective date for the TILA-RESPA Integrated Disclosure rule. Instead of taking effect on August 1st as planned, the impending rule—which requires two new disclosure forms, the Loan Estimate and Closing Disclosure—will not roll out until October 1st of this year. CFPB Director Richard Cordray released a statement on Wednesday saying, “We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks.” The new disclosure forms are expected to give homebuyers more time to review and understand the cost of their home mortgage.

To learn more, read the entire article.

Image credit: ClkerFreeVectorImages

 

Learn More
separator


Boomerang Buyers Look to Re-Enter Housing Market

/ 0 Comments

Boomerang buyers are putting the recession behind them and looking to rejoin the housing market this year. See which cities interest them most.

Learn More
separator


Blackstone Buying Homes in Chicagoland Area

/ 0 Comments

You may have noticed that homes in your neighborhood were being purchased at an increased rate.  If so, Blackstone Group may be moving into your neighborhood.  This investment firm has been buying distressed homes in neighborhoods throughout the Chicagoland area and then renting those homes.  More than 1,300 homes in Cook County were purchased by Blackstone last year.  Initially thought of as a great investment in the area, some are rethinking their initial views of Blackstone’s interest in our neighborhoods.

For more and a list of the neighborhoods that seem to be of interest to Blackstone read, “Is Blackstone buying homes in your neighborhood?”

Image credit:  Anne Rossley

 

 

Learn More
separator


BBVA Compass Announces Zero-Percent Down Mortgage Loans

/ 0 Comments

BBVA Compass brings no-money-down mortgages back for low-wage income earners. Is this a move in the right direction for the housing industry? Comment below.

Learn More
separator


Are You Ready for a Wave of Boomerang Buyers?

/ 0 Comments

Short sales and foreclosures forced them out of their homes during the housing crisis, but industry reports say nearly half of those 7.5 million Americans will make their way back to homeownership over the next several years. In fact, as many as 500,000 are expected to do so in 2015. Are you ready to cater to these “boomerang” buyers who will likely approach home buying with more caution than typical buyers? According to Marc Gould, vice president of business specialties for the National Association of REALTORS®, this group will require special attention. In a new article for RISMedia, he advises agents to start assembling a strong support team of real estate attorneys, mortgage brokers, and inspectors that can help this more cautious group feel confident in their purchasing decision.

To learn more, read the entire article.

Image credit: Nan Palmero

 

Learn More
separator


Apartment Investors Capitalize on Hot Seller’s Market

/ 0 Comments

Apartment investors that scooped up multifamily real estate at a bargain during the recession are cashing in on their investments. According to a recent article published by commercial real estate leader CoStar, a number of private owners and REITS have netted gains since January 2015, in large part due to the sale of their multifamily properties. Luis Mejia, CoStar’s director of U.S. research, explains why now is such a good time for apartment investors to sell. “With the possibility of interest rates increasing, which could eventually push cap rates up, and the potentially negative effect of supply on prices, a number of investors see selling as a viable portfolio strategy,” he said.

To learn more, read the entire article.

Image credit: Rob Young

 

Learn More
separator


America’s Top 10 Most-Searched Neighborhoods in 2014

/ 0 Comments

One Chicago ZIP code made Realtor.com’s top 10 list of America’s most-searched neighborhoods in 2014. Tell us below which one you think it is.

Learn More
separator


16 Ways to Revive Your Stagnant Property Listing

/ 0 Comments

If you’ve done everything you can think of, but your property
listing still isn’t attracting offers, Stacie Staub, guest
contributor for Inman News, may have the marketing boost your listing
needs. As a broker associate and the Director of Marketing for LIVE
Urban Real Estate, Staub has helped real estate agents bring new life
to stale listings with her innovative ideas. In her latest article, she
shares 16 of her best tricks of the trade including listing the
property as a sale/possible lease to attract a wider audience that may
end up loving the property so much they buy it anyway.

Read the entire article
for more marketing tips.

Image credit: crazygabe

 

Learn More
separator


8 Home Fixes That Help Seal the Deal for Buyers

/ 0 Comments

What is the #1 home fix you advise clients to make before listing their home? Comment below, then check out the top 8 fixes one broker says will help close the deal.

Learn More
separator


7 Things to Consider When You Inherit a Home

/ 0 Comments

Do you know what steps to take when you inherit a home? These smart tips from the host of Strange Inheritance can help you navigate your options.

Learn More
separator