The New York Times
Pasadena Home in Madison Heights Neighborhood
The revamped Good Faith Estimate form, which arrived just over a year ago, has helped give home buyers and homeowners looking to refinance their mortgages a better understanding of their borrowing costs.
But industry experts say the three-page, line-by-line disclosure — which lenders must provide within three days of receiving a loan application — still falls short of telling borrowers exactly what they will be paying. Some in the mortgage industry complain that it can even distort or obscure the true cost.
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Filed under: Home Buyers, Mortgages, Real Estate, Uncategorized Tagged: | Business, closing costs, Financial Services, Good Faith Estimate, Loan, Mortgage loan, mortgages, Refinancing
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