We are in a period of transition in real estate - from common sense to "dumbing down confusion".
As a home buyer purchasing a home or a homeowner refinancing your home, you will son be presented with two newish forms - GFE and Settlement Disclosure.
The GFE form essentially will look like this: GFE Format
The two draft Settlement Disclosure forms (Butternut and Hemlock) are under review but are to be published in August 2012.
I find it sad and humorous that the Consumer Financial Protection Bureau (CFPB), charge with protecting consumers, places the closing attorney charges on both forms are under "Services that the Buyer did not not shop for" and yet the title insurance issued at closing depends on who the closing attorney uses or prefers. Where's the consumer protection placed here?
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
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