WAKE UP REAL ESTATE: New Real Estate Laws Explained - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

WAKE UP REAL ESTATE: New Real Estate Laws Explained

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WAKE UP REAL ESTATE: Congress recently passed two new laws in hopes of protecting you the next time you buy a house. The Truth in Lending Act and Real Estate Settlement Procedures Act went into effect this month.  

Kirk Catt form Coldwell Bankers explains five things people need to know about how these new laws will affect them.

1 - Will likely increase time to close home loans     
2 - Affects 1st Mortgage loans - purchase and refinancing
3 - Uses simplified forms that are easier to read
4 - Designed to make it easier to compare loans
5 - In effect as of October 3rd

Watch the full segment for the details.

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