(Video Blog) GFE 2010 Simi Valley Borrowers Understanding the Good Faith Estimate

If you’re a Simi Valley borrower either purchasing a home or refinancing, you’ll encounter the new good faith estimate which is required to be given to you as an explanation and disclosure of the terms of your loan and the costs of your loan. This updated form has been required since the middle of January of this year and is being dubbed the GFE 2010. I believe the goal of this revised form was to create accountability and clarity. The accountability for the rate, terms and points to obtain the financing. The clarity of the settlement costs in the transaction. In this video blog I help Simi Valley borrowers take a look at this form, understand how it is organized and try to help Simi Valley borrowers avoid some of the landmines. If you have any experience with this form, please share in the comments section below.

This form is caused a lot of critical debate in the industry and I have my concerns about this form too.

Thanks for reading Simi Valley’s Premiere Real Estate Blog!

Author – Ted Mackel Simi Valley Real Estate Agent – Keller Williams Realty

Ted Mackel is a top producer at Keller Williams Realty Simi Valley,

specializing in Simi Valley Real Estate

(805) 432-7705

About Ted Mackel

Active real estate broker and entrepreneur in Simi Valley. Ted has a passion for business, has deep knowledge about residential and commercial real estate and is one of the few to be a long time blogger/writer on these subjects. In his free time you'll find Ted enjoying baseball with his family (Go Dodgers), reaching his goal of spanish fluency, and pursuing his hobbies with RC aircraft and Lionel Trains.

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  1. Tweets that mention (Video Blog) GFE 2010 Simi Valley Borrowers Understanding the Good Faith Estimate -- Topsy.com says:

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  2. […] Here’s an oldie but goodie from real estate agent Ted Mackel. Where every day real estate terminology might be common knowledge to you, it’s not always common knowledge to the first time homebuyer. So in this video, Real Estate Agent Ted Mackel explains what a Good Faith Estimate is (in detail). It’s a combination video/screencast. Then, here’s how Ted Mackel turned this into a blog post: http://homebuysblog.com/2010/06/01/video-blog-gfe-2010-simi-valley-borrowers-understanding-the-good-…. […]

  3. […] Here’s an oldie but goodie from real estate agent Ted Mackel. Where every day real estate terminology might be common knowledge to you, it’s not always common knowledge to the first time homebuyer. So in this video, Real Estate Agent Ted Mackel explains what a Good Faith Estimate is (in detail). It’s a combination video/screencast. Then, here’s how Ted Mackel turned this into a blog post: http://homebuysblog.com/2010/06/01/video-blog-gfe-2010-simi-valley-borrowers-understanding-the-good-…. […]

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