Big thanks to Tim Kelsey with Boyle, Bain, Reback and Slayton in Charlottesville for dropping some title insurance knowledge and advice. I tell my clients that title insurance may seem to be worthless, but … if you end up having a claim against your property, the cost of title insurance will be far outweighed by the cost of hiring an attorney.
But … apparently lenders wont’ have to run a second full credit check before closing on a mortgage : Despite earlier reports to the contrary, it turns out that your mortgage lender will not have to pull a second full credit report on you hours before closing on your home purchase or refinancing. In a clarification of a policy announced earlier this year, mortgage giant Fannie Mae now says that applicants will need to come clean about any debts they have incurred since they submitted their mortgage application — or debts they never disclosed on the application. But a formal pre-closing credit report will not be mandatory to confirm creditworthiness. The chances of everyone in the lending pipeline (underwriters) actually getting this memo: slim to none.
I’m doing a video test … Youtube: Viddler: 4 Ubertor: Transcription: Hey, it’s Jim Duncan with Nest Realty and RealCentralVA.com here finishing up an afternoon of showing houses in Charlottesville, in western Albemarle County. A…
Reflecting on last night’s First Wednesdays gathering at South Street Brewery in downtown Charlottesville.
… It’s about community and building friendships, not self-serving extraction of something from others.