cfpb: Buying This Year? Here's Why You Should Buy Before August 1, 2015 - 02/22/15 01:13 AM
Financed purchases after August 1, 2015 could be more difficult. Here's why.
The Frank-Dodd Wall Street Reform and Consumer Protection Act, created in 2010, reregulated the mortgage industry in response to the financial meltdown of 2007-2008. These regulations apply to closed-end consumer mortgage loans.
Before getting into the details, you should familiarize yourself with these changes in terminology:
Lender will be known as "Creditor" (not a broker) Borrower will be known as "Consumer" Tolerance will be known as "Variation" Closing/Settlement will be known as "Consummation" The forms will also be changing:
Truth In Lending/Good Faith Estimate will become a 3-page "Loan … (1 comments)

 
Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417, Real Service. Real Results. Real Estate (HomeSmart Stars)

Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417

Real Service. Real Results. Real Estate

Addison, TX

More about me…

HomeSmart Stars

Address: 5717 Legacy Drive #250, Plano, TX, 75024

Mobile: (972) 416-3417

Ah, Addison! Not a city, but a "town." The Town of Addison. The best place to live and work in North Texas. There's something to be said about a place that doesn't take itself too seriously. Note the exclamation point in the town's name. Here you'll find the ruminations, rants and raves of one of the town's realtors and residents.



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