Among the provisions set to be implemented in 2014 include the decrease of FHA mortgage limits from $729,750 to $625,500. Another would be strict rules for mortgage lenders in contacting borrowers who have missed their payments. These provisions are meant to protect the buyer, the lender, and the industry itself.
Families well-prepared to handle growing Houston, TX mortgage rates need not worry about policy amendments. The law is meant to protect the interests of both buyers and sellers, keeping the stability of the market in check. Buyers unfazed by the policy should contact trusted mortgage lenders like Churchill Mortgage to learn more.
http://houston.churchillmortgage.com/industry-news/federal-housing-changes-to-protect-buyers-and-mortgage-in-houston-tx/
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