The federal Interagency Task Force on Fair Lending has published a Spanish-language version of a brochure that alerts consumers to borrowing pitfalls, including high-cost home loans, and offers tips for getting the best financing deal.The brochure, Utilizar su hogar como garantía para un préstamo es arriesgado (Putting Your Home on the Loan Line Is Risky Business), warns that borrowing from an unscrupulous lender, especially one that offers a high-cost loan using the home as security, could result in the loss of the home. Among the members of the task force are the Department of Housing and Urban Development, the Federal Deposit Insurance Corp., the Federal Housing Finance Board, the Federal Reserve Board, the Office of the Comptroller of the Currency, the Office of Federal Housing Enterprise Oversight, and the Office of Thrift Supervision. The brochure is available on the agencies' websites. HUD can be found online at http://www.hud.gov.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry