When a home is purchased, most look at the home as the only product they are purchasing. Unless you are paying cash for a home, there is a often overlooked product, the home loan. When you obtain a home loan, you give your lender a mortgage, which is security to your lender in case the loan is defaulted. In Oregon, you enter into a trust deed with your lender and a neutral third party, usually a title company. Bottom line, when obtaining a home loan you are buying a product, and when you buy a product you want to receive the highest quality, and value in that product, right?
How are new appraisal rules hampering the difficult Sunriver Real Estate Market…
talks about how the real estate collapse prompted Fannie Mae and Freddie Mac to tighten appraisal regulations, a attempt to protect themselves from undesireable loans.