Presently, two different Federal laws have defined different disclosure forms that are provided to consumers (buyers/borrowers) who apply for a residential mortgage. These different forms have been issued under the requirements of the Truth In Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). The Consumer Financial Protection Bureau (CFPB) has been directed … More What Are TRID Lending Requirements?
A key question for anybody contemplating the purchase of a home is how much house can you afford? The answer is not simple and requires the consideration of many factors. Where you are in your stage of life also greatly affects this question. Are you “first-time buyer” with little down payment funds and a young … More How Much House Can You Afford?