Homeownership is the dream of millions of Americans, and should never be denied because of an applicant’s race, color, national origin, sex, religion, marital status or age. In 1974, Congress sought to remove such discriminatory obstacles from the approval process. The Equal Credit Opportunity Act was created to weed out discriminatory practices in lending. It’s… Read more »
The financial crisis of 2008 started with shoddy mortgage-lending practices. Congress answered this problem with the 2010 Dodd-Frank Act, which was designed, among other things, to tighten mortgage lending standards and disclosures, keeping consumers better informed and curbing predatory lending practices. Here is a quick overview of what the Dodd-Frank Act means to you as… Read more »
In the often-confusing world of finance, the Consumer Financial Protection Bureau (CFPB) is a valuable source of free information for homebuyers and others making a major purchase or investment. Created by Congress following the 2008 financial meltdown, the bureau provides helpful educational materials, tools for making financial decisions, and conflict resolution with financial institutions. The… Read more »
