cook county: Anti-Predatory Lending Database Program
- 06/23/08 09:11 AM
Starting 1 July 2008 every mortgage on property in Cook County will be required to to have a Certificate of Compliance or Certificate of Exemption attached to it in order to be recorded. The reason? The Anti-Predatory Lending Database Program. In case of exemption the programs requirements will impose some additional administrative work on the title companies and lender and a small $50 on borrowers. In the case of non-exempt mortgages, borrowers will be required to attend counseling. The borrowers who will be required to attend counseling include first time homebuyers. It also includes any one borrowing money on a principal residence … (3 comments)
Starting 1 July 2008 every mortgage on property in Cook County will be required to to have a Certificate of Compliance or Certificate of Exemption attached to it in order to be recorded. The reason? The Anti-Predatory Lending Database Program.;)
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