lender liability: What happens if a borrower decides his loan is unaffordable? - 03/04/13 09:15 PM
What happens if a borrower decides his loan is unaffordable?
 
The Wall Street Journal reported that regulators have established new mortgage rules and that these rules have been set to prevent the problems that exist in the lending practices of the past decade. These new rules also give the borrower greater legal rights against financial institutions that grant mortgages that are not affordable to the buyer.
Lending institutions will be required to document buyers ability to pay the loan and this intern will mitigate possible lender liability if borrower defaults.
Will interest only loans disappear?
Many non qualifying loans have or will disappear. … (3 comments)

 
Dolores "Dee" Mauriello, Realtor, Homes For Sale Wayne NJ (Keller Willaims )

Dolores "Dee" Mauriello

Realtor, Homes For Sale Wayne NJ

Wayne, NJ

More about me…

Keller Willaims

Address: Att: Dolores Mauriello Realtor® , 1700 Rt 23, Wayne , NJ, 07470

Office: (973) 696-0077

Mobile: (973) 979-7375

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