Recording fees set to increase October 17, 2019

Effective October 17, 2019, recording fees for most documents will increase by $6 due to the passage of HB 166 by the Ohio Legislature. The new recording fee will be $34 for the first two pages and $8 for each additional page. Half of all recording fees collected are required to be submitted to the state to the credit of the Ohio Housing Trust Fund. Ohio Revised Code 317.32 and 317.36   Sample Fee Chart…

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Long-awaited FHA condo rules | boost to affordability

  The following news is shared from an announcement by the National Association of Realtors. HUD to announce long-awaited FHA condo rules | will give affordability a boost The U.S. Department of Housing and Urban Development is expected to release updated guidance tomorrow on FHA-insured condominium financing. The new rules should benefit real estate clients and customers by allowing more buyers to obtain low down-payment mortgages on affordable housing options. Specifically, the new rules will:…

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Interim Guidance for the Blue Water Navy Act of 2019

The following is excerpted from a notification from the Ohio Mortgage Bankers Association. VA Releases Circular 26-19-23 on August 12, 2019 Circular 26-19-23, interim guidance for the Blue Water Navy Vietnam Veterans Act of 2019. Some key provisions of the Act, effective with loans closed on or after (and not before) January 1, 2020, are: Veterans with loans amounts over $144,000, with full entitlement, will not need a down payment regarldess of purchase price; The…
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Mortgage terms | the basics

  Buying a home can be daunting with all of the jargon and terms. Here are five basic terms that will be helpful to you during your loan shopping and purchase. ANNUAL PERCENTAGE RATE (APR) – The cost of all credit and finances as determined by the length of a year, including the interest rate, points, broker fees, and other credit charges obligated to the buyer. CLOSING COSTS – Also referred to as transaction costs…

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Moving checklist

Moving Checklist You may not be able to move mountains, but you can plan an organized move with a little help from this step-by-step timeline. By PETER LAMASTRO (as published in REAL Magazine) Two Months Before Sort and purge. Go through every room of your house and decide what you’d like to keep and what you can get rid of. Think about whether any items will require special packing or extra insurance coverage. Research. Start…
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