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Beware of the In-Home Closing Price

by Francine D'Elia Wirsching on October 26, 2009

You may find it convenient to have someone come to your home with notary stamp in hand and a pile of papers for you to sign.  What you might not realize is:

  1. You may be charged a significant settlement fee – sometimes costing you several hundred dollars.  While the fee is allowable in Pennsylvania under certain circumstances, the borrower must be informed of the cost in advance.
  2. The “closer” may only be authorized to witness your signatures and not be able to describe or explain any of the documents. [click to continue…]

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How to Shop for Title Insurance

by Francine D'Elia Wirsching on October 22, 2009

In Why Shop for Title Insurance, we explained how consumers can protect themselves from inappropriate charges simply by comparing charges from various providers.  Now we’d like to provide you information on how to shop for title insurance.

First, check the rates and fees

We’ve developed a Title Insurance Shopping Guide for use in Pennsylvania. This will allow you to compare quotes side-by-side. A detailed comparison will quickly highlight any glaring discrepancies such as incorrect application of the rates or inappropriate or “junk” fees. [click to continue…]

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Get Philadelphia City Certifications Online

by Dave Wirsching on October 19, 2009

Need a City Real Estate Certification for Philadelphia?  No need to go to City Hall.

The Department of Licenses and Inspections Online Certification Site now provides an online application in just a few easy steps. The City charges $100 for the Certification plus an additional $3.00 service charge. Receipt of the Certification can happen in minutes. Payment is made by major credit card. Adobe Acrobat Reader is required to download the certification.

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Why Shop for Title Insurance

July 30, 2009

The process of buying a new home or refinancing is exciting and can be time consuming. You are not only worried about finding the right home, but you are also trying to lock-in your rate at the “perfect” time. The process can be exhausting.

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Fantastic! I am “Skipping” a Mortgage Payment.

May 18, 2009

Why am I skipping a mortgage payment?  This is a frequent question at the settlement table and one that deserves a detailed answer.
The first mortgage payment on your new loan is typically due the first day of the second month after you have signed the mortgage papers.  For example, your refinance settlement takes place on February [...]

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