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Hoofy & Boo: The End of Trump Mortgage and Donald Trump's Licensed Products

Hoofy and Boo report that Donald Trump has pulled the plug on Trump Mortgage, after American Home Mortgage's recent collapse, less than two ...

Trump proposal would make getting a mortgage harder for homeowners deep in debt

Borrowers who are deep in debt could find it even harder to get home loans under a new Trump Administration proposal.

Leaders of the Consumer Financial Protection Bureau said Thursday they plan to allow the expiration of the so-called “qualified mortgage patch,” a loophole in post-recession lending rules that lets deeply indebted homeowners take out loans, according to the Wall Street Journal.

The patch allowed Fannie Mae and Freddie Mac to back some home loans whose debt payments exceed 43 percent of the borrower’s income, which was the cap broadly set by the bureau in 2013.

The Urban Institute estimates lenders exploited the patch to extend some 3.3 million mortgages between 2014 and 2018, adding up to more than $250 billion in loans that would not have been allowed otherwise.

At a press conference Thursday, Consumer Financial Protection Bureau director Kathy Kraninger said her agency has not decided whether to adjust the rule’s debt-to-income cap once the patch expires in 2021.

does a life estate trump a mortgage?

if i have to foreclose on my property and home how will that effect my mother who holds a life esate and lives on the property in a separate house? she signed the mortgage but not the note.

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