Mortgage Commitments and Interest Rate "Lock-Ins" [electronic resource] : What Is the Problem
- Corporate Author:
- Library of Congress. Congressional Research Service
- [Place of publication not identified] : [publisher not identified], 1987.
- Physical Description:
- 11 pages : digital, PDF file
- Describes practices and procedures, known as "commitments," which allow lenders to specify certain terms and conditions for mortgage loans, and explains their limitations and potential pitfalls. Summarizes proposals to protect would-be borrowers from losing their specified terms and "locked-in" interest rates, resulting in higher finance charges, higher monthly payments, or even loss of financing altogether.
- Related Titles:
- ProQuest U.S. Congressional Research Digital Collection
- Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection (last viewed June 2010). Reuse except for individual research requires license from ProQuest, LLC., CRS Report., and AVAILABLE ONLINE TO AUTHORIZED PSU USERS.
- Technical Details:
- System requirements: PDF reader software.
View MARC record | catkey: 10066582