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The Real Estate Zone Radio Show – 06/20/15 Broadcast

Listen to the Real Estate Zone radio show from June 20, 2015, with hosts John McClellan and Kevin Bown.

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The Real Estate Zone Radio Show – 04/18/15 Broadcast

Listen to the Real Estate Zone radio show from April 18, 2015, with hosts John McClellan and Kevin Bown.

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The Real Estate Zone Radio Show – 04/04/15 Broadcast

Listen to the Real Estate Zone radio show from April 4, 2015, with hosts John McClellan and Kevin Bown.

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On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law. This new law required the Consumer Financial Protection Bureau (CFPB) to combine the Truth in Lending (TIL) and the Real Estate Settlement Procedures Act disclosures into one concise form for consumers.

 On August 1, 2015, the existing Good Faith Estimate and TIL disclosures will be replaced with and combined into the new Loan Estimate disclosure. This is great news for both consumers and real estate professionals. The CFPB issued the final rule on this on November 20, 2013; and it is going to affect all mortgage loans with application dates beginning August 1, 2015.

This new Loan Estimate disclosure will combine the existing Good Faith Estimate and TIL disclosures into one easy-to-understand form. Current forms can be very confusing to borrowers; and they are lacking important information like cash needed to close and total principal, interest, taxes, and insurance (PITI) payment. There is not even a place for a signature on the existing form.

We can put this rule in the category of one action that the CFPB got right. With this new form borrowers will be better informed and better prepared to make wise decisions when purchasing a home.

The second part of the “Know Before You Owe” rule pertains to [click to continue…]

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Listen to the Real Estate Zone radio show from March 28, 2015, with hosts John McClellan and Kevin Bown.

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Listen to the Real Estate Zone radio show from March 21, 2015, with hosts John McClellan and Kevin Bown.

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Listen to the Real Estate Zone radio show from March 14, 2015, with host Kevin Bown and guest Kelly Freeman–Real Estate-focused broadcast with topics that include the spring real estate season and its trends, lots of stats, and other Austin real estate happenings!

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Listen to the Real Estate Zone radio show from March 7, 2015, with host John McClellan.

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Listen to the Real Estate Zone radio show from February 28, 2015, with host John McClellan.

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Listen to the Real Estate Zone radio show from February 21, 2015, with host John McClellan.

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