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6 Jul 2021

How to Align Selling Your Home and Buying a New One

POSSIBLE SCENARIOS IN SELLING YOUR HOME AND BUYING A NEW ONE For many who are contemplating selling their house also think about aligning their sale with the purchase of their own new home. Not working towards this solution can be costly. Renting or paying a double mortgage for the five-month period before you move into […]

5 May 2021

New Home Checklist: 7 Essential First Week Tasks

New Home Checklist: 7 Essential First Week Tasks Congratulations, you’ve bought a house! Purchasing the home you want is exciting. We’re here to help you minimize the inevitable stress of moving. After planning a move for months and diligently doing all the packing, prepping, and logistics, many people moving into a new home find themselves […]

5 Apr 2021

Property Value & Refinancing: Everything You Need to Know

Homeownership is one way to grow your wealth. Most of the time property values tend to rise while you pay off the mortgage. When you pay off the principal on your home and the value rises, you gain equity in your home. This is the monetary value between the amount you owe and the possible […]

5 Mar 2021

6 Ways to Protect Your Interests When Buying an “As-Is” Home

Buying an as-is home comes with some unique advantages. However, you’ll want to take some steps to ensure that you’re protected once you move in. What Does “Sold As-Is” Mean? A seller lists a home for sale as-is when they don’t plan to perform any repairs before the closing. When you buy such a home, […]

5 Feb 2021

Mortgage Preapproval Affect on Credit Ratings

Does Shopping Around for a Mortgage Preapproval Hurt Your Credit Rating? For serious home shoppers, especially in competitive housing markets, it isn’t enough to be prequalified. You also need to be preapproved for a loan amount equal to or greater than the price of the home you’re considering (minus the down payment). That said, stringent […]

Figure: 7 TAC §81.200(c)

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT WEBSITE AT WWW.SML.TEXAS.GOV . A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT WEBSITE AT WWW.SML.TEXAS.GOV .