Some of the mortgage advertisements appearing in Web sites, newspapers, direct mail and unsolicited e-mail may be violating federal law. The Federal Trade Commission is to send warning letters to more than 200 advertisers and media outlets informing them of the possible violations. The letters being sent to advertisers advised them to review their ads and read up on relevant laws. Media outlets were given guidance on screening ads for questionable claims.Some of the claims made in the ads are "potentially deceptive," or violating the Truth in Lending Act, according to a FTC news release. The advertisements were claims that these mortgage companies had very low monthly payments or interest rates without fully disclosing other important loan terms.For instance, the low rates and payments ... 09/13/2007

The National Association of REALTORS (NAR) sent a joint letter to Housing and Urban Development (HUD) Secretary on August 8, 2007, encouraging HUD to undertake reform of the Good Faith Estimate under Real Estate Settlement Procedures Act (RESPA). The letter, co-signed by Center for Responsible Lending (CRL) President, in an effort to address abusive lending practices, in part, through a summary Good Faith Estimate . The letter also states that additional strong legislative and regulatory action will be required. Specifically, the letter recommends a Summary Good Faith Estimate that highlights key loan terms and payment information in an easily understandable format and accompany the full Good Faith Estimate that would provide the detail necessary for consumers to understand more fully t... 09/13/2007

I have found that it is difficult to sell "Staging" to sellers. To me, it is no doubt the best thing a seller could do for their profit margin. Here is the situation. A house sits empty. Alone and deserted, the house fills with a musty smell. I feel when a potential buyer walks into an empty house, abandonment is the only thing that comes to their mind. Not the fact the home sellers are in a great situation where they are financially well off to move out of one home and purchase another before selling their old one. The move actually leaves the buyers with a moment of questioning when they first walk in. How can they change this house - empty and deserted - into a home where they can spend hours of time with family or friends. Walking into an empty house is slightly scary. The real esta... 04/30/2007