Yesterday I learned that getting a mortgage to buy a home in Greeley Colorado and everywhere else in the U.S. is about to take a lot longer and become a lot more difficult.  Steve Romero a Wells Fargo Mortgage Consultant who I recommend most people when they are looking for a mortgage called me yesterday to let me know about some new regulations that are coming after July 31st to the Greeley Colorado and the rest of the U.S. that will significantly make the process to getting a mortgage more difficult, more time consuming and most likely more costly. 

I'm going to meet with Steve later on this week or maybe next week to get the real details on what this will mean for you the mortgage customer.  I'll then write in more detail about them.   But basically what the new laws are is more requirements for disclosure and timelines that the customer has to review them.  It also has alot to do with the appraisals.   While disclosures are good the timelines that the federal government is imposing is what will make the process more difficult.  This applies also to refinancing. 

I asked Steve if it will no longer be possible to get a well qualified customer a mortgage in as little as two weeks like we have been able to do in the past.  He said those days are gone.   He said even 30 days will be tough.  Especially with all the things that can pop up in the course of a real estate deal that can delay these timelines the government will require. 

Steve informed me that he and his Wells Fargo collegues have been in training for the last few weeks to prepare for this change and have actually been doing loans right now if possible to meet these requirements. 

Next week I will hopefully go into more detail to you about the new things you will need to know to get a mortgage to buy a home in the Greeley Colorado Real Estate Market, Weld County and the rest of the U.S as this is a federal requirement. 

I've searched the internet for details on this program, but information is surprisingly lacking.  When Steve called I hadn't ever heard about this.  I thought maybe it was because I'm kind of a independant agent that doesn't hang around at a large company and I usually get skipped over with this kind of information.  But he said other agents in the Greeley Colorado Real Estate Market with very large companies he had talked to said they hadn't heard of this either.

For complete details on everything Greeley Colorado Real Estate visit my website at http://www.greeley-weldcountyhomesforsale.com

Marc Oster

Y and M Real Estate LLC