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The servicer must follow the procedures in Notifying Fannie Mae of Lead-Based Paint Citations in F-1-12, Preparing to Implement a Workout Option to report the action to Fannie Mae.
What must a seller in a PID disclose to a potential buyer? If county or city has made some type of improvement that benefits property owners in the area, there will be an additional tax that owners will have to pay. This will transfer to new Buyers so DISCLOSE!
Yes, the regulations require that before a buyer is obligated to purchase, the seller provide the buyer with the pamphlet mentioned above and disclose the presence of lead-based paint and lead-based paint hazards, along with any documentation regarding those hazards.
Which option is of the most concern to licensees and advertising when it comes to the FTC? Advertisements should not mislead or contain errors of fact, including keeping listings up to date.
Disclose any known information concerning lead-based paint or lead-based paint hazards. The seller or landlord must also disclose information such as the location of the lead-based paint and/or lead-based paint hazards, and the condition of the painted surfaces.
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Based on that evidence, lead was banned as an ingredient in paint in 1978. Seventy percent of Pennsylvanias current housing stock was built before then, meaning there are a lot of homes with lead paint on the walls.
The law requires anyone selling or leasing single- and multi-family housing units built before 1978 to disclose information about lead-based paint hazards to prospective buyers or tenants.
The federal lead-based paint disclosure regulations apply to residential sale or lease of properties built before 1978.
The perils of decorating with lead-based paints were identified 50 years ago and lead paint was eventually banned completely in 1978 so why is lead paint still dangerous today? Unless your home was built after 1978, you can assume it has some lead residue within it.
The FHA/HUD official site reminds residents and landlords that the Lead Disclosure Rule requires home sellers and landlords of housing, built before 1978 to disclose to purchasers and potential tenants knowledge of lead-based paint or lead-based paint hazards using a disclosure form, signed by both parties, attached

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