Survey: Most home buyers still don’t understand their mortgage terms

Mortgage documentation is too cumbersome for far too many homeowners, according to a survey carried out by the home remodeling website Porch.com. The survey of almost 1,000 recent home buyers found that more than 75% said they didn’t completely understand the terms of their mortgage. Moreover, some 30% admitted to reading none or only some

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Mortgage Application Rules Are Changing

Effective October 3, 2015 changes are being made to mortgage application rules. Most changes are about how consumers are presented terms of the mortgages they are being offered. The changes are required by the 2010 Dodd-Frank financial law. One key change is that consumers must be given the final terms of the mortgage at least

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