New, 8 point evaluation for lenders to determine in you qualify for a mortgage:
Posted by The Cascade Team Real Estate on
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Getting a Mortgage is About to Get Harder          Â
Mortgage reform is kicking in on Jan. 10, bringing significant changes to home loan financing.
The new rules were written by the Consumer Financial Protection Bureau to protect homebuyers from risky mortgages like the ones that led so many homeowners into foreclosure in recent years. The rules also protect investors from buying shoddy mortgage-backed investments.
Money Talks News founder Stacy Johnson describes the changes in the video below. Check it out, then read on for more details.
The downside for consumers is that the rules make it harder for some people to qualify for a home loan. So, if you’re shopping for a mortgage or refinancing right now,…
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