Mortgage WarningsAugust 19, 2005
We were pleasantly surprised to learn about a brochure titled, “Shopping for a Mortgage? Do Your Homework First” (jointly published by the National Association of Realtors and the Center for Responsible Lending). And then we read it.
Considering the General Counsel of the Center for Responsible Lending was quoted as saying, “We’re warning home buyers to approach…mortgages carefully. They should be cautious about accepting a mortgage they can’t afford. These mortgages can be devastating for families who are stretching their budget to buy a home,” we had honestly expected more from the brochure.
The brochure is still worth a read, but please do more than just ask your Realtor© and lender for their input. Perhaps ask an actual, and independent, financial planner. Radical, we know…
· Shoping for a mortgage? Do your homework first – pdf [CRL]
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