News & Press

A new federal rule this year requiring mortgage lenders to give borrowers reliable estimates of closing costs appears to be working - whether it's also costing borrowers more money is uncertain.

While mortgage rates have plunged to record lows, the cost of buying a home in Pennsylvania is being driven up by a related expense: sky-high closing costs.

A look at what are the states with the most expensive closing costs, with Tim Dwyer, Entitle Direct Group.

Just when you thought it was safe to dive into the housing market, a new survey shows mortgage closing costs have skyrocketed an average 37 percent -- with New York topping the surge.

In last year's closing costs survey, Texas was most expensive and New York was second. This year, the order was reversed. In four of the past five years, the two states have occupied the two top spots.

If you finance your home through the normal lending process, a title search will undoubtedly turn up any liens for delinquent property taxes, unpaid loans and unsettled claims by subcontractors for labor and materials.

In the current refinance market, so many consumers view mortgages as a commodity and have the incorrect attitude that all mortgage servicers are the same. With borrowers' eyes glued to the rate calculator, finding a way to differentiate yourself as a servicer has become ever more difficult.

If you closed on a new house in Illinois in 2009, the odds are good that you paid about $1,207 in closing costs and title fees. That's the average amount that Illinoisans paid for these fees according to the 2009 closing from financial Web site Bankrate.com.

Four years after the housing bubble popped, the American real estate market has yet to launch a sustainable recovery.

The Good Faith Estimate (GFE) encourages consumers to first shop and then compare fees from various lenders before choosing a mortgage. It helps consumers understand what services they can shop for -- so they not only can receive the lowest interest rate and best terms, but can save significantly on closing costs as well.