New Mortgage Rules Aim to Help Homebuyers

Shouldn't you be able to read and understand a mortgage document before you sign it? The government thinks so, and new rules went into effect today to make that and other homebuyer-friendly changes happen.

The goal is to make the mind-numbing mortgage process much easier for consumers to understand. It's called "Know Before You Owe," which sounds simple enough.

The means to that goal, however, is all-new paperwork and disclosure rules for lenders that went into effect this past Saturday and which some say could delay the mortgage process and cost consumers cash.

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