Following the housing market crises and Great Recession, the government made sweeping changes to housing and finance regulations. Beginning on October 3, 2015, all new residential house purchases are subject to the new RESPA/Truth-in-Lending Act integration rule or "TRID." This means the forms used for residential house closings are different and the responsibilities of the title companies and lenders are different. Many home buyers, especially first time home buyers, will not be aware of the differences. An attorney can assist you in navigating the changed environment and protecting your rights especially with respect to lenders and title companies. For instance, the regulations require showing the estimate for required lenders’ title insurance coverage but does not make home buyer title insurance coverage mandatory. A home buyer may believe this is something that can be skipped as a means to lower closing costs. However, doing so increases certain risks that can be very expensive later on. Please give us a call at the Law Office of Matthew H. Sontz, LLC so we can assist you in your home purchase.