How Do New TRID Regulations Affect Your Ability to Close Quickly?



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Do you want to have closing papers in your hand by the end of the year? What do you need to do to make that happen?

Many buyers and sellers want to be moved by the holiday season or by the end of the year. In 2015, we have seen some major changes as part of the new TRID regulations. You don't need to know all the details about it - that's what we're here for - but if you want to sell or buy a home between now and the end of the year, you need to be aware of the new timelines.
A lender who could typically close a loan in 15 to 30 days will now need about 45 days. Some of the bigger banks that needed 60 days are now at 90 to 120 days! This means that you need to start the process earlier to achieve the same timelines you would have been able to do a year ago.

If you're thinking about buying or selling by the end of the year, it's time to get things moving. Give us a call or shoot us an email at any time and we'll walk you through everything you need to know about these changes. If you're selling, you could beat the rush by getting started now! We hope to hear from you soon!