Under Dodd-Frank, theConsumer Financial Protection Bureau (CFPB)has jurisdiction to create new rules and regulations for the mortgage industry. According to these rules, the loan originators must look at a borrower’s total current income and existing debt. They need to make sure that the existin...
Properly Assessing the Reverse Mortgage Option: Know the Costs, Benefits, and Alternatives for This Retirement Funding Tool At that point, the home may have to be sold to repay the loan. The loan amount is designed to be no more than the home's value. But if sale ... NC Lynch,CR Pry...