Getting Started 1. Managing Your Money 2. The Home Buying Process 3. Keeping Your Home
 
How the Process Works
Meet the Professionals
Pre-Qualifying for a Loan
Knowing Your Rights
Mortgage Products and Financing
Preparing for Loan Processing
Loan Closing

 

Many federal, state and local laws are in force to protect you in case a deliberate violation of your rights occurs at some point during the home buying process.

Below is a list of important laws you should know. Some include contact information for filing a complaint. Click the links to learn more about how each protects you.

Video Demonstration— Recognizing Violations

It can be difficult to judge when a violation of your rights occurs. Take a look at a short video of a meeting between a lender and a homebuyer to judge a situation. Follow the steps below:

Directions

  1. Adjust your sound and speaker volume. Then, click the video link below. A window will open and start the video.


    Play Video

    Note: You will need Windows Media Player software to view the video. Click Download Player to locate and install this player software. If your computer does not have sound, click Transcript to read the video dialog.

  2. While watching, consider the questions below:

    What does the lender say that frustrates this homebuyer? Do some statements indicate a violation or just bad business practices?

  3. Click the Answer to see the result.

  4. Click the Close Window link to return to the course.

Do you know if your bank has violated the Community Reinvestment Act?

One way to get public information on your bank is to go to a Web site maintained by a federal bank regulator. What if you don't know which federal agency is the primary regulator of your bank? You can visit a government site that combines information from all bank regulators. Follow the steps below to begin.

Directions

  1. Click the FFIEC link. This will take you to the Federal Financial Institutions Examination Council (FFIEC) Web site for CRA public data.
  2. Scroll to the Search box.
  3. Type the name of your bank and click Submit Query.
  4. Broaden your search by entering your state and the current year. You will see a list of the banks in your state that were examined for the CRA that year.
  5. Notice their CRA rating. Is it satisfactory?

    Note: Many banks have similar names, so you may have to search carefully.
  6. Click the Close Window link to return to the course.

You will learn more about legal rights as you continue this course. In the next section, you'll explore the mortgage products and financing plans.


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MainGetting Started • 1. Managing Your Money 2. The Home Buying Process3. Keeping Your Home

 

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