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RISMEDIA, August 20, 2010—(MCT)—Facing new penalties if they lowball estimates of upfront mortgage costs, lenders and brokers appear to be coming clean about how much borrowers will pay. As a result, the so-called good-faith estimates that mortgage providers must give to prospective customers show closing costs soaring 36 percent this year, interest-rate tracker Bankrate.com said in a report this week.

The main reason for the increase, according to Bankrate: Lenders are giving more accurate estimates because they now must…

On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into which of today’s short sale lenders are making it harder to get our transactions to close (the answer is not what you think)!  Listen in as we tell you which lender it is, why they are doing it and how to make sure your deals close. The new mandatory authorization to release information that Wells Fargo has and the new email alerts that Bank of America…

RISMEDIA, July 1, 2010—(MCT)—The House of Representatives introduced and passed a proposal to extend the original June 30 closing deadline for home buyers who want to get up to ,000 in tax credits.

The Home Buyers Assistance Act of 2010 would push the deadline to midnight September 30, 2010 on contracts that were signed by the midnight April 30 deadline. The vote was 409 to 5, with 18 not voting.

First-time buyer Juan Martinez of Hicksville had prayed…