Tag Archives: mortgage payment
‘Ability to pay’ in 475 pages
Four hundred seventy-five pages.
That’s the length of the Federal Reserve’s latest notice of a proposed rule to implement a federal law that says lenders must determine whether a borrower has the ability to repay a mortgage.
The issue of whether a bor… Continue reading
Should landlords prove credit?
Normally it’s the renter who needs to prove their creditworthiness to the landlord. But with the current state of the housing market, it may be time for the landlord to prove to the renter that their credit is not in the toilet. With so many homeowners… Continue reading
Millions still ‘hurting badly’
Economic data show a “very modest, but still painfully slow recovery” from the Great Recession, and one clear cause of that pain is the mortgage and foreclosure crisis, according to Harris Interactive, a polling firm based in New York, which suggested … Continue reading
Credit card before mortgage
Once upon a time, say, before the recent housing crisis, homeowners made every possible effort to make their monthly mortgage payment, even if that meant they couldn’t meet other financial obligations.
Now, however, there’s a new payment priority in wh… Continue reading