2014 may prove to be tougher for potential home buyers to secure a new home loan. New mortgage rules are set to take place next year by the Consumer Financial Protection Bureau, which will make lenders screen home loan applicants in greater detail.
Effective January 10, 2014, the new mortgage rules call for an in-depth analysis of all applicants that apply for a home loan. Next year, loans will require lenders to dedicate both more time, and resources towards individual home loan applications.
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