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Loan Modification

: Mortgage Lender Implode-o-Meter

Mortgage closing costs jump 40% in Illinois

By Implode-Explode Heavy Industries

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"Illinois was not alone in the dramatic rise. Nationally average closing costs increased 36 percent to $3,741. Bankrate said one of the reasons for the increase has to do with new regulations implemented in January. Lenders are now required to provide an estimate of title and closing fees within 10 percent of what the final cost will bd, or they?ll risk penalties. The regulations require more labor in getting a loan together." read more

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Full post as published by Mortgage Lender Implode-o-Meter on August 17, 2010 (boomark / email).

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