Know Before You Owe
The next Fiscal Year has ushered in new laws on mortgages. Commonly known as “Know before you Owe” this initiative is designed to help consumers understand their loan options, shop for the mortgage that’s best for them, and avoid surprises at the closing table. The law is managed by the Consumer Financial Protection Bureau (CFPB), an agency that was formed in the wake of the housing collapse. Learn more about this new law at the CFPB website:
http://www.consumerfinance.gov/know-before-you-owe/
A good summary of the new regulations can be found at:
https://www.redfin.com/blog/2015/10/bankers-are-scared-but-buyers-shouldnt-be-understanding-know-before-you-owe.html#.VhP8PqR2Mqk