Real Estate Marketing Insider comments on news that a non-fee mortgage option may soon be available as well as tips for vacationing in coastal areas for the summer.
San Diego, CA (PRWEB) August 19, 2012
Tobias Nergarden announced his support of the proposed law to require a non-fee mortgage option that was reported by CNNMoney on Friday, and his opinion is that this will help home buyers as they will be better able to understand exactly what the costs of buying a home will be. Mr. Nergarden also released his tips for vacationing in popular coastal areas during the summer.
Real estate marketing strategies for any real estate agency might become simpler because the Consumer Financial Protection Bureau has proposed a new rule that will require mortgage lenders to offer an option that will not force buyers to pay fees when getting a mortgage. This proposal stems in part from the Dodd-Frank Act, which attempted to make mortgages and the lending process easier to understand for buyers. This piece of legislation came in the wake of the 2008 financial crisis that was at least partially caused by borrowers not understanding all of the fees that they would be required to pay. Lenders are pleased with this idea because they would still be able to make loans with fees as long as the fees are part of the total loan.
The Consumer Financial Protection Bureau began operating in 2001 after the Dodd-Frank Act was passed. The organization was designed to function as a governmental body that would monitor and ensure fairness in terms of things like mortgage lending, credit cards, and student loans. The bureau is run from the United States Federal Reserve headquarters, and is funded by the Federal Reserve as well. In order to better serve the public, The Bureau is set up to receive suggestions from people via social networking and other online communication options.
The Dodd-Frank Act is more accurately known as the Dodd-Frank Wall Street Reform and Consumer Protection Act. This piece of legislation was introduced into Congress by Congressman Barney Frank and into the Senate by Chris Dodd, whose names were then used to name the bill. The bill became law, signed by the President in 2010. The goal of the legislation is to introduce transparency into the American financial situation and make sure that large financial institutions are accountable to the people for their actions.
Real Estate Marketing Insider (REMI) also released their vacation tips for the summer for people wanting to get a taste of the coastal areas without having to spend an arm and a leg. One of REMI’s tips is to utilize vacation rental services. Many vacation rental websites are available to help vacationers find Mission Beach vacation homes, La Jolla vacation homes, coastal California, and coastal Oregon vacation homes. These sites offer tourists a variety of clean, comfortable homes to rent in prime locations such as oceanfront or beachfront for affordable prices. Rather than renting at a hotel a unique experience can be provided for friends or family by renting a vacation home.
Real Estate Marketing Insider today commented on the proposed rule that would make mortgage lenders offer an alternative to a traditional mortgage that does not include extra fees. REMI also released tips for affordable, fun vacation experiences.
About Real Estate Marketing Insider:
Real Estate Marketing Insider, based out of La Jolla, California, is a publication aimed at providing real estate professionals with tips, strategies, and analysis of market trends.
For the original version on PRWeb visit: http://www.prweb.com/releases/prwebcoastal-vacation-rentals/mortgage-interest-rate/prweb9815149.htm
This article (It May Soon Be Possible to Get a Mortgage Without Paying Fees and Vacation by the Ocean) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.