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Rainmaker
2,220,654
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
1,196,798
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Law

Jan 30, 2019 11:48 AM
Rainmaker
2,182,552
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Dito , it’s the Law

Jan 30, 2019 09:53 AM
Rainmaker
1,231,853
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
1,052,211
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
Rainmaker
1,712,676
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
2,390,620
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

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
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

It's the law.

Jan 30, 2019 10:20 AM
Rainmaker
4,882,355
Richard Weeks
Dallas, TX
REALTOR®, Broker

Because the Truth In Lending law says you must,

Jan 30, 2019 01:08 PM
Rainmaker
634,531
Jason E. Gordon
CMG Mortgage, San Diego, CA - San Diego, CA
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, 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
4,800,082
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
5,230,119
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Because it's a federal LAW!

Jan 30, 2019 07:21 PM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Best to not ever use trigger terms.

Jan 30, 2019 05:49 PM
Rainmaker
961,383
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
1,502,998
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
556,536
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
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with 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
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

It has something to do with a legal requirement. 

Jan 30, 2019 12:58 PM
Rainmaker
1,311,397
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
3,986,258
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
5,868,554
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
4,434,127
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
375,087
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
1,239,901
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
1,543,823
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Ask the Oracle: Jason E. Gordon 

Jan 30, 2019 08:40 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

THE LAW

Jan 30, 2019 03:01 PM
Rainmaker
7,836,419
Roy Kelley
Retired - Gaithersburg, MD

Hopefully, you will comply with laws and regulations.

Jan 30, 2019 01:13 PM
Rainmaker
5,216,409
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