article thumbnail

I Just Bought a Seller-Financed Home With an 8.99% Interest Rate. Is That Legal?

Realtor.com

What government regulatory agencies protect buyers from such seller-demanded high interest finance schemes and how can I determine whether this “forced” seller-financed package breaks the law, or not, by using usurious interest rates? But I hope you also did your own due diligence before taking the leap with this home purchase.

Finance 70
article thumbnail

Real Estate Housing Recession: How To Make it Work For You?

Marco Santarelli

However, given the Fed's recent statements, we believe there is a significant upside risk to the Fed keeping interest rates higher for longer. housing market slowed dramatically in the fall of 2022, as mortgage rates surged and home prices remained high,” said Molly Boesel, principal economist at CoreLogic.

Equity 52
article thumbnail

131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

How else would you and your clients understand how much is being paid in principal and interest over the years? Annual percentage rate (APR). Clients may be confused about the difference between an interest rate on their mortgage loan and an APR. Due diligence period. Fixed-rate mortgage.