Disregard my grammar, I know it should be "to whom you listen." Sounds weird. More importantly, in comments released by Treasury moments ago about Sec. Geithner's statement today on financial reform to the American Enterprise Institute. Let's hope his words are heeded by Chris Dodd and congress more broadly. Words meet action, please...

This is welcome news, courtesy of MIT Professor Simon Johnson, a notice that Sen. Ted Kaufman (Delaware) is set to lay down a few tenets that underscore the nation's financial situation. And he's spot on.

The inestimable Dawn Kopecki of Bloomberg posts this headline yesterday about some possible White House moves to ban some foreclosures -- at least for people under review for permanent loan modification. Right now, foreclosures are still allowed even while homeowners are under review for a loan modification program. Apparently the action under consideration at The White House would now allow foreclosure during that period. This would help. It would help homeowners acting in good faith to keep their homes - and it would help communities who suffer high foreclosure rates, which affect, at least for now, property values.

Okay so reading this blog is like getting the news 6 weeks early. Granted, I thought it would make the news at the end of September, and here it is in today's Times:

The Seattle Post PI.com is reporting that after clearing a Senate hurdle this week that the New Home Buyer Tax Credit of $8,000 is widely expected to pass congress this week to extend the credit into the spring season of 2010, which would be most welcome across the country. The program essentially creates a refundable $8,000 tax credit for qualified first-time home buyer tax credits (some limitations apply and "first" doesn't always mean "first"). This is very welcome news.

The Real Estate Settlement Procedures Act was passed by the U.S. Congress in 2008 to govern certain aspects of closing most residential transactions in the United States. RESPA had a giant impact on how business is conducted in certain segments of the real estate industry, especially in title/escrow companies and mortgage lending companies.

The first time you receive a copy of a title company commitment, you might find it difficult to understand.  Actually, the commitment is an easy document to read.  Once familiar with the commitment, it becomes a road map to follow to ensure that the property being transferred is in insurable condition.

Explanation: