Are you confused by the new TILA/RESPA changes?
Wondering where to find an apartment with cheap in-unit laundry?
Get answers to these questions by listening to this week’s Ilyce Glink Show. You can click the audio link below to listen to the full show, or download the podcast via iTunes.
On this week’s show I talk to Frank Nothaft, senior vice president and chief economist at CoreLogic, about their Q1 Equity Report and discuss the TILA/RESPA changes. As always, I also give you my Glinkonomics report for the week.
More About This Show
Glinkonomics Report: TILA/RESPA Changes Are Coming [2:33]
If you’re applying for a mortgage on or after October 1, 2015, the new TILA/RESPA Integrated Disclosure will affect your mortgage application process.
The new mortgage application process will replace the old Truth-In-Lending Disclosure and HUD-1 settlement statements with Closing Disclosure and new settlement statement forms. So if you’re going to be applying for a mortgage to finance a new home purchase after October 1, you’ll need to understand how TILA/RESPA will work. And if you’re a Realtor or other real estate professional, it’s even more crucial that you take the time to learn how TILA/RESPA will affect the mortgage application process.
If you’re looking for more information, I’ll be participating in a Twitter chat about TILA/RESPA in partnership with the National Association of Realtors this Thursday, June 25 at 12 p.m. CT. Tweet your questions using #TRIDchat.
CoreLogic Equity Report [7:30]
According to the CoreLogic Equity Report for the first quarter of 2015, 254,000 underwater properties regained home equity in the first three months of the year.
Rising home values have enabled homeowners of those properties to get out of the negative equity trap and into positive territory on their mortgage loans. And this is a positive sign for the housing market as a whole, which still includes a little over 5 million underwater homes without any home equity. CoreLogic predicts in its Equity Report that another 5 percent increase in home prices could restore home equity to 1 million more of those properties.
Where to Find an Apartment with the Cheapest In-Unit Laundry [21:33]
Want to find an apartment with in-unit laundry? It could cost a lot of extra money, depending on where you live.
According to a new analysis of 13 major metro areas from Trulia, the average additional cost to rent an apartment with in-unit laundry ranges considerably from metro area to metro area. For renters, having in-unit washer and dryer facilities is a tremendous convenience, but at a certain point, the added cost becomes prohibitive.
If you have any questions about this show or in general, email me at [email protected]
Click the audio link below to listen to the full Ilyce Glink Show.
Thanks for listening!