July 30th HERA laws

On July 30, 2009: The new Housing and Economic Recovery Act (HERA) laws go into effect today to protect home buyers. They require all mortgage lenders and mortgage brokers to help prevent deceptive lending practices and protect customers by helping them become more informed.

These changes are the standards to which I, and the other Real Estate Professionals at Jamison Realty have been adhering to throughout, however, not everyone has, and this has, in part produced the current housing market crisis. We applaud the government for making these practices into law

While these changes are all positive, they will take additional time to comply with, and therefore affect closing dates. Most of the changes will be transparent to the home buyer and the REALTOR® or Builder.

Want more information about the Mint Hill, Matthews and Charlotte area real estate market?
Check out www.minthillrealty.com