Simple Real Estate Definitions : Right To Cancel

As part of the federal Truth-in-Lending Act, refinancing homeowners are granted a 3-day "cooling off" period post-closing during which they retain the right to rescind, or "cancel", their recent refinance without penalty or cost. The Right To Cancel is protection against surprises at closing and/or a change of heart. It's...

Existing Home Sales Slip 2% In May

Home resales slipped last month; a slight setback for the nation's housing market's recovery. According to the National Association of REALTORS®, Existing Home Sales fell to 4.55 million units in May 2012 on a seasonally-adjusted annualized basis, representing a 2 percent drop from April. An "existing home" is a home that's...

A Simple Explanation Of The Federal Reserve Statement (June 20, 2012)

The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday. For the fifth consecutive meeting, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member, Richmond Federal Reserve President Jeffrey Lacker, dissented in the 9-1 vote....