Posts Categorized: TFS Blog

Chicago Mortgage | Mortgage Payment Calculator | Mortgage Interest Rates

Speaker 1:                    AM 560 The Answer. If it’s 1:00 pm and it’s Saturday, it can only mean one thing, it’s time for the all new Townstone Financial Show on AM 560 The Answer. The show is brought to you by Townstone Financial, the home loan experts since 2002. Remember nobody values your home Mortgage business… Read more »

U.S. homeownership rate still lags recession years

A booming housing market and strong employment gains haven’t yet moved the needle much on a low U.S. homeownership rate. Minority homeownership rates remain disturbingly low, but generally homeownership trends ran a litter higher in 2017. The year ended with a national homeownership rate at 64.2 percent (or 64 percent seasonally adjusted), according to the… Read more »

Update On 2016 FHA Guidelines On Property Tax Prorations And Sellers Concessions

New 2016 FHA Guidelines On Property Tax Prorations And Sellers Concessions 2016 FHA Guidelines On Property Tax Prorations And Sellers Concessions were updated with HUD’s FHA 4000.1 Handbook which revised the older FHA 4001 Handbook and new FHA Guidelines were implemented. FHA Guidelines On Property Tax Prorations state that certain states such as the state… Read more »

New Bankruptcy Laws Dec 1, 2017

Finally, after several years of debate, major changes have been approved that will have a profound impact on consumer bankruptcy cases. On April 27, 2017, the Supreme Court of the United States, through Chief Justice John Roberts, submitted to Congress amendments to the Federal Rules of Bankruptcy Procedure that set forth extensive changes dealing with… Read more »

Things to do in light of the Equifax hack

Townstone encourages you to take the following steps to help protect your identity: 1. Visit to determine if you are potentially affected and to sign up for credit file monitoring and identity theft protection. 2. Contact major credit reporting agencies to place a fraud alert and/or credit freeze on your credit report, and to… Read more »

Equifax discloses more

It’s been nearly a month since Equifax disclosed that it had been the victim of a “cybersecurity incident” that exposed the personal information of 143 million U.S. consumers, and as it turns out, the data breach at the credit reporting agency is even larger than the company first thought. Equifax revealed Monday that the results… Read more »

143 million Americans were potentially affected by a Equifax cybersecurity incident.

Equifax, one of the nation’s big three credit bureaus, said on Thursday that 143 million Americans were potentially affected by a cybersecurity incident. The hackers gained unauthorized access to certain personal information, including names, Social Security numbers, birth dates, addresses and, in some cases, driver’s license numbers. Credit card numbers for some 209,000 consumers were also accessed,… Read more »

This was the barrier to 900,000 mortgages

Since the recession, there have been significant barriers to homeownership for thousands of Americans and a new study explores five major issues. The Rosen Consulting Group report estimates that if mortgage availability had been at a more normalized level in 2016, there would have been an additional 900,000 purchase mortgages written. “Ten years after the… Read more »

Phishing scams shoot up after cyber attack on mortgage tech vendor

Digital signature company DocuSign has confirmed that a “malicious third party” has breached its system and gained access to as many as 100 million email addresses. Since the breach, there has been an uptick in phishing emails sent to DocuSign customers, according to the company. DocuSign eSignature software, commonly used by mortgage companies, digitizes the… Read more »