The Dottie & Kate Team
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Real Estate Settlement Procedures Act (RESPA)

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Years ago, when a person took on a mortgage loan, they were provided with only the most basic of information. In 1974, the Real Estate Settlement Procedures Act (RESPA) was passed in order to help potential homeowners become more educated consumers. The last update to the Act was made in 2008 and went into effect in 2010.

The purpose of the Act, along with consumer education, is to prevent kickbacks and referral fees. It is now mandated that all borrowers be advised and fully informed. Prior to accepting a mortgage loan, a borrower must understand lender servicing, escrow account practices and closing costs. They must understand who will be involved in the mortgage process and how.

RESPA applies to several types of transactions: purchase loans, property improvement loans, assumptions, equity lines of credit and refinances. Today's borrowers are more informed than in the past and are able to make smarter choices when it comes to buying a home.

Purchasing a home is a large investment. It may be one of the biggest investments you make in your life. When a borrower is informed about all aspects of their mortgage loan and the lending process, they are better able to make decisions that are the best for their families.

If you have questions about the lending process or how to obtain a mortgage loan, an experienced real estate agent will be able to answer your questions. You have a right to make an informed decision when purchasing a home for you and your family.

Dottie Toney                                                                                                                                                                                                                       Kate Swarthout
Keller Williams Realty                                                                                                                                                                                       Keller Williams Realty

Cell:
770-715-0512                                                                                                                                                                                                        Cell: 770-715-0612
Email: dottietoney@kw.com                                                                                                                                                                      Email: kateanne@kw.com
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  • Home
  • Find a home
  • Featured Properties
    • 225 Late Rise Rd Monticello Ga
    • 120 Friddell Rd
    • 1600 A Hwy 81
    • 1809 Stark Rd
    • 13759 Woolsey Rd
    • 225 Tussahaw Ln
    • 469 Parker Rd
    • 267 McDonough Rd
    • 1600 B Hwy 81
    • 115 June Court
    • 332 Roberts Point Road
    • 7625 Wright Circle
    • 695 Moreland Road
    • 2551 Hidden Hills Drive
    • 110 Walnut Ridge Way
    • 108 Greenland Drive
    • 29 Highland Circle
    • 521 Blue Cedar Court
    • 779 Crumbley Road
    • 2933 Old Snapping Shoals
    • 171 W Nuthatch Drive
    • 118 Bell Road
  • Home Staging
  • RESOURCES
    • Blog
    • Selling Tips
    • Locations
    • FAQ
    • Real Estate Glossary
  • Contact
  • 1809 Stark Rd