New Mortgage Rules Take Effect

Friday, 10 January 2014 | by Pat's Picks

New rules meant to prevent another widespread mortgage crisis take effect today. The Washington Post says a new category of “qualified mortgages” will limit upfront fees and forbid no-interest periods that can lure in unqualified buyers. In exchange, lenders are protected from lawsuits by borrowers. Experts say the changes will help ensure buyers can afford their homes.

SOURCE: Washington Post