HOW COULD MORTGAGES CHANGE IN 2014?

By
Real Estate Agent with Century 21 New Millennium MD

MORTGAGES change often, but with new rules coming in January 2014, from the Consumer Protection Financial Bureau, they may result in more changes than you expect.  These changes are supposed to protect the Home Buyer and Lender from risky loans.  In the process they may make it harder for potential Home Buyers to obtain a loan and/or result in higher payments.

In an article published by RISMedia, Marilyn Kalfus gives her insight, and opinion, on why 'Getting a Mortgage Could Get Tougher'. 

For those in Charles, Calvert and St Mary's Counties, MD, who would want to use the 100% financed, USDA, Rural Development Loan, you will also be watching to see if the Rural Development areas will be reduced in mid-January.  If these Areas are reduced you will need to speak to your Lender about the next best type of Loan for you.  Instead of No Down Payment you may find you need at least 31/2% in Down Payment, along with your Closing Costs. 

I am  Margaret C. Taylor REALTOR® sharing information in Calvert, Charles and St Mary's MD.

I am qualified to help YOU buy or sell your home, or real estate investment. YOU need a Buyer’s Agent, or Listing Agent, to represent YOU.

ASK A QUESTION HERE RealEstate@MargaretC.com

CALL or TEXT 301 481 8407 for a FREE Consultation

I am a Century 21 New Millennium Real Estate Agent. Ask for MARGARET C.

I welcome your REFERRALS in Lexington Park, Great Mills, California, Hollywood, Leonardtown, Mechanicsville, PAX River, and all St Mary’s, Calvert and Charles Counties MARYLAND.

This blog is for informational purposes only and is not intended as legal or tax advice. An Attorney, CPA or other specialist should be consulted for specific needs.

 

Posted by

 Century 21 New MillenniumFor more informational articles go to St Mary's County, MD Real Estate Agent Subscribe to my Blog

FREE HOME SEARCH 

 

 SOUTHERN MD MAP of St Mary's, Charles and Calvert County, Maryland

Lexington Park, Great Mills, California, Hollywood, Leonardtown, Mechanicsville, Charlotte Hall, Piney Point, Valley Lee, Callaway, PAX River, and more, also Calvert and Charles County MARYLAND

  CALL ME  I CAN HELP AND I CARE

MARGARET C. TAYLOR REALTOR 301 481 8407 

 Provide YOUR HOME CRITERIA for a complete HOME SEARCH RealEstate@MargaretC.com

Office: 301 862 2169

SFR Logo    e-PRO©

Disclaimer for Short Sales and loan modifications IMPORTANT NOTICE  Your lender may not agree to change your loan and/or agree to a Short Sale.  If you stop paying your mortgage you could lose your home and damage your credit.  Seek legal and financial counsel.

Comments (0)

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?