Mortgage Lenders Plus.com Helps Borrowers Through New, Tougher Government Standards

The federal government says mortgage lenders need to toughen mortgage standards. The new rules will mean more paperwork when it comes time to borrow -- and for some borrowers, less ability to get the loan amount they want.

The federal government says mortgage lenders need to toughen mortgage standards. The new rules will mean more paperwork when it comes time to borrow -- and for some borrowers, less ability to get the loan amount they want.

Adjustable rate mortgages (ARMs), interest-only loans, piggy-back financing and stated-income mortgage applications are about to get a make-over under orders from federal regulators. The new rules will mean more paperwork, tougher mortgage qualification standards and even smaller loans for many borrowers.

"The federal government is putting an end to the urban myth of instant mortgage lending," says Peter G. Miller, author of The Common-Sense Mortgage and a columnist syndicated in more than 80 newspapers. "The government is saying that borrowers need a much better idea of how loans work. The government is also saying that mortgage lenders need a much better idea of whether or not borrowers are really qualified for today's new forms of financing."

In his latest column for Mortgage Lenders Plus.com, Miller shows how borrowers can do well under the new standards. "It's really a return to the loan standards we had prior to 2001," says Miller. "With a little preparation most borrowers will be able to easily sail through the new requirements."

About Mortgage Lenders Plus.com:
Established in 2000, Mortgage Lenders Plus.com provides a unique online destination for borrowers seeking to finance or refinance real estate. Mortgage loan requests worth nearly $10 billion have been processed on the site, and that number grows each day. The company is not a lender, broker or escrow agent; instead it provides an unequaled marketplace where you can match your needs and wants with nearly 200 competing mortgage lenders. For news about loans, lenders, equities and home values, please visit www.mortgage-lenders-plus.com

###


Contact Details

Company Name: Betsy Lain
Issued By: Betsy Lain
Address:
Website: Visit the website

by Betsy Lain (few years ago!)

Latest Press Releases

The Mad Hatter Now Offer a Full Line of Hearth Products and Full Line of Grills

Diabetes Insulin Delivery Pens Market Research Report 2018

Dr Kapadia Provides Tips to Patients Interested in Hair Transplant Procedures

love vashikaran specialist

Solar Blanket Sales Market Report 2018

Spring Bottled Water Market Insights, Forecast to 2025

Biochemical Incubator Sales Market Report 2018

Quinine Sulphate Sales Market Report 2018

Automotive Chassisc System Market Insights, Forecast to 2025

2,6-Dicarboxypyridine market size in key regions like North America, Europe, Asia Pacific an..

Remove this press release ?

Due to extra work required to remove the press-releases we have started charging $1.99 for press release removal.

Your press release will be removed in 24 hours, once the payment has been received.

Search Press Release
e.g. Business, Computer, etc.