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Loan Modification

: The Truth About Mortgage.com

New Disclosure Rules for Adjustable Rate Mortgages

By scot184

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The Federal Reserve today approved an interim rule that will require mortgage lenders to disclose examples of how a mortgage loan’s interest rate and monthly payment may change. Beginning on October 1, 2011, banks and lenders must alert borrowers to the risk of payment increases before they agree to take out mortgage loans with variable [...] read more

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Full post as published by The Truth About Mortgage.com on December 22, 2010 (boomark / email).

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