Mortgage And Real Estate News

Sunday, October 11, 2015

Why new slow-it-down mortgage rules may be a good thing

If you are looking for a house now, it's likely going to take a little longer to get a mortgage to buy it.

The expected delay is due to a new federal rule that's supposed to give consumers more protection when they are making one of their biggest financial decisions.

Last week, the "know before you owe" requirements went into effect. The biggest change for borrowers will be the three days they get to review all the final costs of their home loan before they sign.

Read more... http://www.azcentral.com/story/money/real-estate/catherine-reagor/2015/10/08/new-mortgage-rules-cooling-off-period/73547134/

Reuters: Business News

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