Pa.S Closing Costs Among Nations HighestPATRICIA SABATINI, Pittsburgh Post-Gazette PITTSBURGH AP ― While mortgage rates have plunged to record lows, the cost of buying a home in Pennsylvania is being driven up by a related expense: sky-high closing costs.Pennsylvanians are paying among the steepest mortgage-related fees in the country, according to a new study by Bankrate.com. Closing costs in the state were the eighth-highest overall, averaging $4,236 on a $200,000 loan, 13 percent higher than the national average of $3,741, the survey said. Costs excluded property taxes, homeowners insurance and escrow fees.
Insurance News – Former Title Insurance Agent Sentenced for Embezzlement
Former Title Insurance Agent Sentenced for EmbezzlementAugust 26, 2010 | Targeted News Service Email Print Free Newsletter WASHINGTON, Aug. 24 — The U.S. Attorney for the Middle District of Pennsylvania issued the following news release:The United States Attorneys Office announced today that Ellery A. Crissman, age 45, presently resides in Lock Haven, Pennsylvania received a sentence of 57 months imprisonment and three years supervised release on the charge of embezzlement from a title insurance business. Senior District County Judge Malcolm Muir imposed the sentence in Williamsport following Crissmans plea of guilty to the embezzlement violation on September 3, 2009. Judge Muir also ordered him to pay $1,562,257.67 in restitution to over 50 victims of the embezzlement.
via Insurance News – Former Title Insurance Agent Sentenced for Embezzlement.
– Interview – Rebecca Quick of CNBC and Tim Dwyer of Entitle Direct
REBECCA QUICK, CNBC ANCHOR: Joining us right now with a rundown of the closing cost rankings of his outlook is Tim Dwyer. He`s the founder and President of title insurance firm, Entitle Direct.
And Tim, closing costs have not been dropping like we`ve seen mortgage rates. Why is that?
TIM DWYER, PRESIDENT, ENTITLE DIRECT: It`s counterintuitive, isn`t it?
QUICK: Yes.
DWYER: Well, in fact, closing costs have been falling. The bank rates started (ph) that came out last actually did estimate indeed that an increase of 37 percent in closing costs were a purchase transaction.
via findarticles.com
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