Keeping You Informed

At Rieger Realty we strive to keep people informed as to what's taking place in the real estate industry. On October 3rd, new policies and procedures will be implemented in regards to the closing process on residential properties.

We have been focused on understanding all of the necessary updates and information for the last few months in preparation for this. One essential aspect to be aware of, is that these closings will require a longer process of at least 45 days.

There are a variety of other changes that pertain to the lender as well as the specific timeframes that have to be met within contract and notifications of approval. Here are a couple articles for more information!

 

http://speakingofrealestate.blogs.realtor.org/2015/02/17/understand-the-aug-1-changes-to-hud-1-closing-process/

http://www.forbes.com/sites/kateashford/2015/09/29/mortgage-docs/