Contract 13
Home values
We can all agree, home buyers should be sure they know how much a home is really worth. A new rule proposed by the Consumer Financial Protection Bureau would make that information more accessible.
It's proposing a rule that would require mortgage lenders to provide home loan applicants with copies of written appraisals and other home value estimates. The rule would ensure consumers receive the info before closing, about how the property's value was determined.
If approved, the rule would go into effective January 2013.
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