Search results
Results from the WOW.Com Content Network
Truth in Lending Act; Long title: An Act to safeguard the consumer in connection with the utilization of credit by requiring full disclosure of the terms and conditions of finance charges in credit transactions or in offers to extend credit; by restricting the garnishment of wages; and by creating the National Commission on Consumer Finance to study and make recommendations on the need for ...
Signed into law by President Ronald Reagan on October 15, 1982 The Garn–St Germain Depository Institutions Act of 1982 ( Pub. L. 97–320 , H.R. 6267 , enacted October 15, 1982) is an Act of Congress that deregulated savings and loan associations and allowed banks to provide adjustable-rate mortgage loans .
A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. Hypothec is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien .
U.S. Treasury Secretary Henry Paulson is recommending that the government impose tighter regulations on mortgage lenders. He says this is necessary to avoid another credit crisis. He says that the ...
For premium support please call: 800-290-4726 more ways to reach us
Loan to value is a ratio of the loan amount to the value of the property. In addition, the combined loan to value (CLTV) is the sum of all liens against the property divided by the value. For example, if the home is valued at $200,000 and the first mortgage is $100,000 with second mortgage of $50,000, the LTV is 50% while the CLTV is 75%.
In addition, lender fees can make up a big chunk of buyers’ closing costs, so be sure to shop around for Texas mortgage lenders to find the lowest fees. You can also shop around for title companies.
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.