Although the idea of regulating the ways lenders can provide mortgages to home buyers is nothing new, the housing crisis stepped it up considerably. In recent years, there have been several mortgage regulations passed by federal and state governments, designed to protect borrowers.
Here are a few of them, and how they affect your mortgage and Playa Del Rey home search.
To understand what mortgage terms will work best for your specific situation, consult with your lender or financial advisor.
What is Mortgage Regulation?
When you apply for a mortgage, you may see it as a process that involves just your lender and you, the borrower. The truth is that there are many government regulations and agencies that are also involved in the…