REFORM INTRO: I Urge You To Pay Attention!

The answer is "yes" you will be impacted by the new regulations if you are in the real estate industry. If you ever look at a HUD settlement or a GFE. Are you going to be one of those who in fact know what they are talking about with the new reform or seeking answers and truths at the last minute? The fact is that we only have 2 1/2 months to prepare ourselves for the biggest change in our industry since RESPA began.

How do you disclose settlement charges to your client? This will change...

How do you "shop" around for the best costs and programs? This will change...

What are your sales pitches and how do you market? This will change...

Do you prepare HUD statements? This will change...

Whatever your role is in the real estate industry, this RESPA reform will impact you in one way or another. As I continue to receive the latest and greatest that pertains to this matter, I will be disclosing it here on this blog. The current statistics show that the majority are not ready. We need to turn this statistic around to ensure our 2010 closing transactions do not suffering due to lack of unpreparedness. We have enough road blocks, we dont need another.

Stay tuned for my next post which will be on the NEW GOOD FAITH ESTIMATE...

(CLICK THE FOLLOWING LINK TO VIEW THE NEW GFE) http://www.hud.gov/content/releases/goodfaithestimate.pdf 

(CLICK THE FOLLOWING LINK TO VIEW THE NEW HUD STATEMENT) http://www.hud.gov/content/releases/hud-1.pdf