Appendix B: Demographics of Adults in Lower-, Middle- and Upper-Income Tiers

[real3dflipbook id=”43″] Characteristics of the adult population in lower-, middle- and upper-income households Note: Households are assigned to income tiers based on their size-adjusted income in the calendar year prior to the survey year. Percentages may not add to 100% due to rounding. Whites, blacks and Asians include only the single-race, non-Hispanic component of those […]

Update on Homeownership Wealth Trajectories Through the Housing Boom and Bust

[real3dflipbook id=”42″] Abstract The housing crisis and ensuing Great Recession of the late 2000s resulted in millions of homeowners losing their homes to foreclosure and millions more losing substantial amounts of housing wealth as home prices plummeted. These substantial financial losses have raised important questions about the appropriateness of policies to encourage homeownership as a […]

The Richest Man in Babylon

[real3dflipbook id=”41″] The Richest Man in Babylon by George S. Clason Ahead of you stretches your future like a road leading into the distance. Along that road are ambitions you wish to accomplish . . . desires you wish to gratify. To bring your ambitions and desires to fulfillment, you must be successful with money. […]

Considering a Reverse Mortgage?

[real3dflipbook id=”40″] What is a reverse mortgage? A reverse mortgage is a special type of home equity loan sold to homeowners aged 62 and older. The loan allows homeowners to access a portion of their home equity as cash. In a reverse mortgage, interest is added to the loan balance each month, and the balance […]

Using the Services of a Mortgage Broker

[real3dflipbook id=”39″] What You Should Know This booklet was originally prepared by the Consumers Union of U.S., Inc. under a research contract with the California Bureau of Real Estate (CalBRE ), formerly the Department of Real Estate. The information contained in the brochure is a brief overview of the basic steps and factors involved in […]

CFBP_FAQ

[real3dflipbook id=”38″] CFPB’s TILA-RESPA Integrated Disclosure (TRID) Rule   Old Republic Title offers customized PowerPoint presentations for our agents so that you can “Show What You Know” to your lender and real estate agent clients. We have information, guidance and materials available for you to be a knowledgeable resource for your customers. The following are […]

CFPB Consumer Laws and Regulations

[real3dflipbook id=”37″] Equal Credit Opportunity Act (ECOA)   The Equal Credit Opportunity Act (ECOA), which is implemented by Regulation B, applies to all creditors. When originally enacted, ECOA gave the Federal Reserve Board responsibility for prescribing the implementing regulation. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) transferred this authority […]

Should I Refinance?

[real3dflipbook id=”36″] Refinancing happens when you pay off your current mortgage with money from a new mortgage. Usually homeowners refinance to try to lower their monthly mortgage payment. For example, you might be able to get a new mortgage with a lower interest rate when interest rates fall. Refinancing may remind you of what you […]

Shopping for a Mortgage

[real3dflipbook id=”35″] Shopping around for a mortgage takes time and energy. But it can save you thousands of dollars. Make it your goal to compare at least three loan offers from different lenders. Get at least three preapprovals The Internet and newspapers are a good place to start your search. Contact banks, credit unions, mortgage […]

Guide to Closing Forms

[real3dflipbook id=”34″] Promissory Note The Note is the legal document you sign to agree to repay your mortgage. The Note will provide you with details regarding your loan, including the amount you owe, the interest rate of the mortgage loan, the dates when the payments are to be made, the length of time for repayment, […]