Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious:
NEW MORTGAGE RULES ANNOUNCED
Federal officials released new mortgage lending rules last week in an effort to curb risky lending practices and make it easier for borrowers to know exactly what they’re getting into.
The new Consumer Financial Protection Bureau rules will reshape the U.S. mortgage industry, changing the process homebuyers go through to obtain home loans. Their ultimate goal: keep lenders from giving loans to borrowers who can’t afford to pay them off, which was widely blamed for the mortgage meltdown that ultimately led to the recent recession.
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