Posts Tagged ‘consumer protection’

Interestingly, the Good Faith Estimate, a backbone of the mortgage industry, will be changing on January 1, 2010 with some very major changes, designed to help consumers compare loans from one lender to another. Very major changes but unfortunately, we still don’t know what all of them are or how they are being interpreted because HUD hasn’t released the final information yet. This is something that will have a direct bearing on your Real Estate transactions in the Eugene/Springfield area and is supposed to make shopping for a mortgage easier, but will it? Read More

Tomorrow is the last day of National Consumer Protection Week and the Federal Reserve Board has compiled some items to protect consumers from becoming victims of foreclosure avoidance scams. Reports of mortgage foreclosure scams are on the rise.  Knowing what to watch for and where to turn for help is vital for families who are struggling to remain in their homes.  It’s important for consumers to know that housing counselors and other resources are available at no or low cost to assist homeowners who have fallen behind on their mortgage payments.  One note before we get into the following information, the best and safest way to avoid foreclosure is to make your payments on time. Read More