MA Bill to Clear Title on Foreclosed Properties

In Real Estate by Tramontozzi Law

On December 31, 2015, a MA bill to clear title on foreclosed properties was signed into law. This is great news for anyone who may have purchased a property that was previously foreclosed. Below, we provide some helpful information to understand the details of this law, its impact, and why it’s needed. The Foreclosure Title Issue It is common for mortgages to …

Responsibilities of Closing Attorneys in Massachusetts

In Real Estate by Tramontozzi Law

In the real estate industry, a lot of terms are used under the assumption that everyone already knows what it is. “Closing attorney” is one such term. If you’re unsure what the responsibilities of closing attorneys in Massachusetts are, this information might help. Responsibilities of Closing Attorneys in Massachusetts As the title implies, a closing attorney performs the actual closing for …

Closing Delays from TIL-RESPA Integrated Disclosure

In Real Estate by Tramontozzi Law

The new integrated disclosure forms to be used by mortgage lenders is set to begin next week (October 3, 2015).  The new forms are designed to simplify the information provided by lenders and to make fees and other costs easier for consumers to understand. Massachusetts home buyers and sellers should be aware that there may be closing delays from TIL-RESPA integrated disclosure. …

FHA Changes Affect First Time Home Buyers

In Real Estate by Tramontozzi Law

FHA recently (September 15, 2015) applied some changes to their mortgage qualification process and criteria. Many of this round of FHA changes affect first time home buyers, especially those in or recently graduated from college. If you are a first time home buyer currently searching for a home and hoping to use an FHA loan, this information will be important …