Many report surprises despite rules to clarify home buying

Source: Kenneth Harney, Washington Post (Paid Registration)

Everyone knows that financing and closing on a home purchase can be complicated. That is why more than a year ago, the Consumer Financial Protection Bureau issued a set of disclosures and rules designed to bring greater clarity — and certainty — to transactions.

The study, sponsored by ClosingCorp, an industry technology firm, found that more than 50 percent of buyers were “surprised” by the amounts they were charged at closing, despite the new federal disclosures aimed at eliminating or sharply limiting surprises.

Read Full Article: Many report surprises despite rules to clarify home buying

 
 

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