Chicago Relocation
 

Bob Carbonell, CRP, RMR Move Services, real estate & relocation predictions for 2009

September 27, 2009

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Where is the industry going in 2009?  Watch Bob Carbonell, RMR Move Management Services, provide some real estate and relocation predictions for 2009.

 

My Kind of Town – Watch This!

September 23, 2009

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Thinking of a move to Chicago?  You’ll love this informative video about the great things to do in Chi-Town!  Well…..Maybe your parents saw it at the theatre:

 

A Closer Look at the Real Estate Settlement Procedures Act

September 15, 2009

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Here’s some fantastic insight on some of the changes coming to RESPA, by my Rubloff colleague Ross Nemzin.  Ross can be reached at rnemzin@rubloff.com 

Another of the new federal requirements that will impact every mortgage operation in the country is the Real Estate Settlement Procedures Act (RESPA). RESPA is an HUD consumer protection law that was created in 1974 to help consumers become better purchasers of settlement services and to decrease the puffed up costs of real estate transactions due to kickbacks between lenders, realtors, construction companies, and title insurance companies. It also requires that lenders provide borrowers with a good faith estimate (GFE) for all the costs of a loan. RESPA reform has been going on since 1992 and at last a final rule for the act was recently created with a compliance date of January 1, 2010.

The final rule promotes RESPA’s functions by requiring more timely and useful disclosures about mortgage settlement costs and protecting borrowers from paying inflated settlement costs. According to the Federal Register, RESPA will do this by – Improving and standardizing the GFE form; guaranteeing that the first page of the GFE is understandable; allowing borrowers to ID a particular loan and make comparisons easier; providing more accurate estimates of settlement costs on the GFE; helping to more accurately compare the GFE with the HUD-1.   

       

 

It is important to note that the costs outlined on the GFE are only estimates. The HUD-1 Settlement Statement is a list of the actual fees charged to the borrower and can be reviewed by the borrower one day before settlement. The borrower should request to see the HUD-1 and should question any charge that is not understood.

After much consideration, the proposed changes to the definition of “required use” have been withdrawn from the final rule of RESPA. These changes would have eliminated incentives or discounts to borrowers that use affiliated settlement service providers.

It seems as though RESPA’s final rule is very beneficial to the homebuyer, yet only time will tell.  However, anyone relocating into or out of Chicago should certainly take note….

 

D’Ambrogio Nominated for BOD of Relocation Directors Council

September 10, 2009

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The Relocation Directors Council’s (RDC) 2010 RDC Nominating Committee has been appointed by President Judy Gray, CRP. The ten active Board of Directors plus three “members at large” Member-(Tonya Hamilton, CRP, GMS, Susan Rabinovitch, CRP, & Janie Martin) prepare the slate.

This year’s Committee is recommending the following members to serve on the BOD:
John D’Ambrogio,CRP, GMS Director Member Two year term 2010-2011
Annie Hamilton, CRP Director Member Two year term 2010-2011
Susan Rabinovitch, CRP Director Member Two year term 2010-2011

In addition, the following members of the Board of Directors will be moved into new officer positions for 2009:
Judy Gray, CRP Chairman of the Board One year term 2010
Sue Carey, CRP, GMS President One year term 2010
Joan Harpootlian Thomas, SCRP Vice President One year term 2010
Beth Archibald, SCRP, GMS Secretary/Treasurer One year term 2010

Additional nominations will be solicited and welcomed. If none are received, the President will direct the Secretary/Treasurer to cast a unanimous vote to the slate presented by the Nominating Committee.

We will report the results after their 2009 Fall meeting in beautiful Chicago.

 

Bus Stop, Wet Day, She’s There I say…..why not text 777222?

September 4, 2009

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Text for a taxi?

With deference to The Hollies, next time you’re out enjoying all the fun things that Chicago neighborhoods have to offer, don’t stand on a corner in the cold and rain trying to hail a little yellow car (or God Forbid, wait for a bus) - Let your fingers to the walking, er, texting!  A new service has rolled out in Chicago - TaxiText!  no matter where you are in the city, text 777222 with your address;  a cab will be dispatched.

No cab after a few minutes?  Text your confirmation back and get an immediate status update!  Learn more here!