PUBLIC SUBMISSION | As of: November 21, 2009 Tracking No. 803ffc47 Comments Due: May 13, 2008 |
Docket: HUD-2008-0028
FR-5180-P-01
Real Estate Settlement Procedures Act (RESPA): Proposed Rule To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs
Comment On: HUD-2008-0028-0001
FR-5180-P-01: Real Estate Settlement Procedures Act (RESPA): Proposed Rule To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs
Document: HUD-2008-0028-0015
Comment Submitted by Anita Salem, Homeowner
This new rule was just brought to my attention and, as a homeowner, I would like
to express my appreciation for the steps you are taking in simplifying the
mortgage process. I am a college educated professional and have owned four
homes. With each purchase I have been frustrated and often confused by the
amount and quality of the information provided to me by my lenders. It's no wonder
that predatory lenders have had such success selling their loans to people who
have not fully understood the impacts.
This revised GFE is a great step forward in simplifying the loan process. The
financial impacts are clearly stated and organized. The section on trade-offs and
the shopping cart are also great tools to help borrowers better understand their
options. Great job!