Beginner's Information: March 2009 Archives
The new consumer article for today is The Home Valuation Code of Conduct (New Appraisal Standards) that are going to be taking effect (appropriately enough) on May 1 ("May Day" or "MAYDAY"). It is going to be almost impossible for anyone to hold appraisers accountable for bad valuations.
There will be nothing your loan officer or anyone else can do about the appraiser who gets it wrong and spikes your transaction while wasting your money except complain to your representatives in Congress until they actually fix the problem instead of metaphorically amputating someone's arm in order to treat a twisted ankle.
The new consumer article for today is What Are The Note And Trust Deed And What Is The Difference?. This is a basic article on the differences and relationship between the two documents; one that documents the debt and one that creates the security interest.
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