The stress of shopping for a mortgage will be reduced for those applying for most mortgages beginning October 3, as the new CFPB mortgage rule and forms take effect. These changes are a part of the CFPB Know Before You Owe mortgage initiative and are designed to ease the process of buying a home, help you save money, and ensure . . . → Read More: CFPB: Making the mortgage process easier: Know Before You Owe
Financial protection for older Americans
Older Americans face many financial challenges as they age. They have opportunities to travel, explore new fields of work or hobbies, or spend time with family and friends. But often scam artists or bad advice take away these opportunities. The Office of Financial Protection for Older Americans is here to give seniors . . . → Read More: CFPB Updates – Financial protection for older Americans
AARP—SBA Webinars AARP and the U.S. Small Business Administration (SBA) host new webinars and republish previous webinars to educate people who want to start businesses or expand existing ones.
Assets and Opportunity Scorecard The Corporation for Enterprise Development (CFED) released the 2015 Assets and Opportunity Scorecard, which looks at 135 different measures to paint a picture of . . . → Read More: Financial Literacy Resources
Prepared Remarks of CFPB Director Richard Cordray at the President’s Advisory Council
By Richard Cordray
Good morning. I would like to thank each of you for the work you are doing to help young people establish a healthy financial foundation.
Earning a college degree has become increasingly important to personal and professional success in life. Yet we know it . . . → Read More: Prepared Remarks of CFPB Director Richard Cordray at the President’s Advisory Council
CFPB Hearing on Payday Lending
The CFPB invites you to participate in a Payday Lending field hearing in Richmond, VA. A live video will be streamed on their blog if you are not able to attend in-person.
The hearing will take place on Thursday, March 26 at 12 p.m. EDT.
The hearing will feature remarks from Director Richard Cordray, as . . . → Read More: CFPB Hearing on Payday Lending
Information from the CFPB
CONSIDERING A REVERSE MORTGAGE?
A reverse mortgage is a special type of home equity loan sold to homeowners aged 62 and older. The loan allows homeowners to access a portion of their home equity as cash. In a reverse mortgage, interest is added to the loan balance each month, and the balance grows. The . . . → Read More: Information from the CFPB regarding Reverse Mortgages (also called HECMs)
7 factors that determine your mortgage interest rate
If you’re like most people, you want to get the lowest interest rate that you can find on your mortgage loan. But how is your interest rate determined? That can be difficult to figure out for even the savviest of mortgage shoppers. Your lender knows how your interest rate . . . → Read More: 7 factors that determine your mortgage interest rate
CFPB: 5 reasons to check out our Owning a Home tools now
By Owning a Home Team
Buying a home and taking on a mortgage is a big financial decision, one most of us will make only a few times in our lives. No matter where you are on your journey, whether you’re currently looking for a . . . → Read More: CFPB: 5 reasons to check out our Owning a Home tools now
Nearly half of mortgage borrowers don’t shop around when they buy a home
By Sergei Kulaev
Buying a home is a big purchase, but it’s just that: a purchase. When it comes to spending money on our daily expenses, we have lots of options to help us find the best deal possible. Take, for example, digital gadgets. To . . . → Read More: CFPB: Nearly half of mortgage borrowers don’t shop around when they buy a home