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How do all these things work? What sort of federal regulations exist on them? WHY does each regulation exist, specifically?
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Apr 11, 2015 05:13
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| # ? Apr 19, 2024 08:50 |
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I don't know all the regulatory items because of my slow brain, but I can say that it differs from state to state in the US and evolve over time. Mortgage brokers are a dime-o-dozen and you can save a lot of money by going to one yourself instead of being hosed in your tender rear end in a top hat by your bank of choice, who will use a broker that caters to their best interests rather than your own exclusively. A mortgage is like a thing you can buy. Shop around and have your mortgage broker point out the pro's and cons of each one. A lender (a rich motherfucker willing to sell you their money, not always a bank) will fund the mortgage contract and your mortgage broker usually has these people on a rolodex. Mortgage laws exist generally to keep cookie cutter faggots from abusing real estate loopholes and confusing financial contracts while providing the world a template that lays out your financial obligations to the investment which include installments on the loan making it affordable. Your escrow company is also a good source of information on mortgages and can give you some guidance on the issue if you're that deep into the mortgage process as long as you weren't dumb enough to let your seller's agent pick one for you, which I made the mistake of doing on my first house. They like to keep information from you that you would otherwise like to have known beforehand. A mortgage regulation should prevent this kind of shady practice, maybe one exists, but there's too many ways around it. With that said, it is advised you find a lawyer that doesn't gently caress around on the internet.
to0terfish fucked around with this message at 11:40 on Apr 11, 2015 |
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Apr 11, 2015 11:13
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