From biggerpockets.com
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mortgage industry
News and info on the mortgage industry, including updates on the mortgage crisis as well as information on how to protect you land and assets.
On October 1, new federal lending rules took effect under HOEPA–the Home Ownership and Equity Protection Act. One that will benefit consumers most is a restriction on prepayment penalties for higher-priced loans (those with an interest rate 1.5% above prime). No longer will borrowers need to worry about an excessive penalty for paying off their [...]This Article is Copyright © 2004-2009 BiggerPockets, Inc. All Rights Reserved. New Federal...
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