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HUD's Proposals For Reform
October 19, 2002 On July 29, 2002, HUD released a set of proposals to substantially change the ways in which home loans are originated in the US. As usual, the proposals were open for comment, and many thousands of them were received. Mine was among them, and is shown ... more... Does Truth in Lending Help Borrowers? February 5, 2001 "How does Truth in Lending help mortgage borrowers?" It doesn?t. Truth in Lending (TIL) is a great idea gone hopelessly wrong. The idea is to require lenders to provide one uniform set of ... more... |
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mortgage interst charges related definitions |
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Assumption
Assumption The agreement between buyer and seller where the buyer takes over the payments on an existing mortgage from the seller. Assuming a loan can usually save the buyer money since this is an existing mortgage debt, unlike a new ... more... FHA Mortgage Insurance FHA Mortgage Insurance It is insurance from FHA to the lender against incurring a loss on account of the borrower's default. Paid if FHA loan LTV is higher than 80%. Also known as MIP - Mortage Insurance Premium. By insuring the loan the Federal Government agrees to repay ... more... |
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