New Federal Restriction on Prepayment Penalties Wont
Apply to FHA Interest Charge

post from Real Estate Investing For Real | A BiggerPockets Investment Property Blog on 07 November 2009 09:02:21 AM. © Real Estate Investing For Real | A BiggerPockets Investment Property Blog

On October 1, new federal lending rules took effect under HOEPA–the Home Ownership and Equity Protection Act. One that will benefit consumers most is a restriction on prepayment penalties for higher-priced loans (those with an interest rate 1.5% above prime). No longer will borrowers need to worry about an excessive penalty for paying off their [...]

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New Federal Restriction on Prepayment Penalties Won?t Apply to FHA Interest Charge

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-penalties-wont-apply-fha-interest-charge/