How the Truth in Lending Act Protects You When You Take Out a Mortgage
If you're planning to get a mortgage, it's critical that you know your rights under the law. The Truth in Lending Act (TILA) is a piece of federal legislation that governs how mortgage lenders can and cannot operate their businesses. So how does the Truth in Lending Act protect you, and what are your rights under this legislation? Here's what you need to know. Your Lender Must Give You A Timely Loan Estimate A Loan Estimate (previously known as a Good Faith Estimate) is a document your lender provides you that details information about what kind of a mortgage you've…