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Rainmaker
1,101,448
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

That's a great question for a licensed mortgage broker. 

I guess the Utah Real Estate School is back in session. 

Jan 30, 2019 11:28 AM
Rainmaker
785,249
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Law

Jan 30, 2019 11:48 AM
Rainmaker
1,843,559
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Dito , it’s the Law

Jan 30, 2019 09:53 AM
Rainmaker
1,221,792
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

It's the law!

Jan 30, 2019 09:51 AM
Rainmaker
742,527
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

If you're going to put one term in there you got to put them all.

Love, TILA Tequila!

Jan 30, 2019 01:55 PM
Ambassador
1,651,731
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I thought the law and the law won.

Jan 30, 2019 12:18 PM
Rainmaker
1,641,446
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I've never been a banker... especially when I was an active Realtor. I didn't mix the two and you should not either Daniel Lloyd .

Jan 30, 2019 11:24 AM
Rainmaker
3,183,493
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

It's the law.

Jan 30, 2019 10:20 AM
Rainmaker
3,105,797
Richard Weeks
Dallas, TX
REALTOR®, Broker

Because the Truth In Lending law says you must,

Jan 30, 2019 01:08 PM
Rainmaker
485,073
Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE

The short answer is "because it is the law, and compliance dictates the APR is shown on all advertisements that feature an interest rate".

 

The longer answer is that trigger terms are essentially verbiage that "baits the consumer" into thinking that they have found terms far superior than that of the norm.  Whether the trigger is a teaser rate/payment (that will adjust in the future) and/or a payment that does not cover the full interest payment (hard to find nowadays) or simply covers the finance charge (not reducing principal aka "interest only") and/or has a shorter amortization period (thus higher payment), the overall goal of APR disclosures (and other disclosure forms and/or protocols) is CONSUMER PROTECTION.

Thanks for looping me in Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D 

Jan 31, 2019 08:17 AM
Rainmaker
4,797,811
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

So people will understand the true costs.

Jan 31, 2019 07:44 AM
Ambassador
3,406,394
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Because it's a federal LAW!

Jan 30, 2019 07:21 PM
Ambassador
4,329,372
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Best to not ever use trigger terms.

Jan 30, 2019 05:49 PM
Rainmaker
815,869
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

It seems to be unanimous; it is the law

Jan 30, 2019 03:37 PM
Rainmaker
1,258,622
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

It's the law.  Not one I need to worry about because I'm not a lender.

Jan 30, 2019 02:14 PM
Rainmaker
449,166
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

It help save people from unscrupulous people who would lie to make money

Jan 30, 2019 02:02 PM
Rainmaker
5,090,229
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

the most important answer is that it's the law.... that would be enough of answer for me.

Jan 30, 2019 01:06 PM
Rainmaker
2,812,352
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

It has something to do with a legal requirement. 

Jan 30, 2019 12:58 PM
Rainmaker
707,532
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

It is important enough that Congres passed a law a long time ago nicknamed RESPA which requires that action.

Jan 30, 2019 12:33 PM
Rainmaker
3,983,543
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

 The law?

Feb 03, 2019 04:59 PM
Rainmaker
4,138,718
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

This would be for lenders, not REALTORS.

Feb 03, 2019 08:08 AM
Rainmaker
4,432,367
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It is the law.

Jan 31, 2019 03:15 PM
Rainer
251,162
Libby Cousins
Extraordinary Processing - Spokane, WA
Contract Mortgage Processor, licensed in WA

So you don't get dinged by your state's regulatory enforcement department! The APR is a good way for borrower's to compare the cost of a mortgage in an "apples to apples" way. 

Jan 31, 2019 09:42 AM
Rainmaker
1,031,298
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 When I went to MBA school there were 13 different ways to calculate interest rate on my final exam. That APR has evolved to APY/APR for sometime. So you are studying old materials.

Are you about done with your exam? 

Jan 31, 2019 06:58 AM
Rainmaker
938,730
Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Ask the Oracle: Jason E. Gordon 

Jan 30, 2019 08:40 PM
Rainmaker
4,543,656
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

THE LAW

Jan 30, 2019 03:01 PM
Rainmaker
5,472,237
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Hopefully, you will comply with laws and regulations.

Jan 30, 2019 01:13 PM
Rainmaker
3,346,063
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

It is the law. The politicians think it will help people compare, mos do not understand.

Jan 30, 2019 01:11 PM