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Mortgage Litigation Conference »

The National Association of Consumer Advocates (NACA) will conduct a Mortgage Lending Litigation Conference on September 5th, 2008 in Cleveland OH.  The program is restricted to NACA members, however, qualified candidates who are members of the National Association of Consumer Bankruptcy Attorneys can submit an application for membership to the NACA board of directors.
Ohio courts [...]

What Is The Right of Rescission? »

When you borrow money against a home you already own, the Federal government is there trying to help you avoid making a serious or costly mistake.  The Federal Truth In Lending Act (in effect since 1979) requires that you receive a three business day “cooling off” period after you sign the mortgage papers to decide [...]

Mortgage Brokers Cost You More Money »

Mortgage brokers tend to charge more to place a loan than you would have to pay if you went directly to the lender, according to a recent HUD Study. This is not a surprise to consumer advocates but it tends to contradict the story told by mortgage brokers and their lobbyists. There’s a [...]

What is the Difference Between My Interest Rate and the APR? »

When shopping for a mortgage loan, most consumers are concerned with the interest rate of the loan. Within the past five years, interest rates on mortgages have hit historical lows and many home loans have been made. But there is more to a mortgage loan than the interest rate and a careful shopper [...]

Do Loan Workouts Really Work? »

So many times I see clients seeking a loan modification or loan workout for their mortgage(s).  In most cases, these are very dangerous, and usually only put off the inevitable fact that the borrower can not maintain payments on the property.  The workout/modification is just a temporary bandaid in most cases.
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Federal Reserve Proposes New Rules Designed to Curb Deceptive Home Lending Practices »

The Atlanta Journal-Constitution reports today that the Federal Reserve has released a proposal for new rules that impose “tough new restrictions meant to curb unfair and deceptive home-lending practices and prevent a recurrence of this year’s meltdown in subprime mortgages.”