Aspiring homebuyers should protect themselves - 2005-03-05
Whatever type of loan a homebuyer shops for, lenders and credit counselers agree that the borrower needs to understand the terms of the loan and that it is both the borrower's and lender's responsibility to ensure that happens.
With the strong housing market, mortgage lenders have "come out of the woodwork," and Grieger said she has heard stories about unscrupulous lenders misleading borrowers. While she thinks that's rare, she said she believes it does happen.
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