Putting borrowers into higher-rate mortgages still occurs, U.S. says
Source: The Los Angeles Times
A lawsuit filed recently by the Consumer Financial Protection Bureau indicates that “upselling” remains a pressing concern due to hidden, backroom ploys. “Upselling” leads mortgage applicants into higher-cost terms that increase the lender’s profits, and this abusive practice was banned by the Federal Reserve Board in 2011. Read the full story
Visit www.clarkransom,com if you are considering buying or selling a home.
Source: The San Diego Union Tribune
Sometimes a hand-written letter can make all the difference. Just ask 11-year-old Faith McNeilly, who wrote a letter to a seller as part of her family’s offer on a four-bedroom home in San Marcos, California. In a tight housing market with multiple offers, letters increasingly are utilized as a way to get a leg-up on the competition and make a lasting impression on the seller.
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