Wednesday, July 25, 2007

New Learning Tools for Consumers from Mortgage Brokers Association

The Mortgage Brokers Association recently announced a new resource for consumers to help them make informed decisions about mortgages, and to teach them how to compare mortage products, as well as, how to choose the best one for themselves. This comes in response to the recent mortgage crisis that occurred within the subprime market. MBA is taking a leadership position in creating the resources needed to empower consumers, so that this crisis is not repeated in the future.

To quote the MBA's message from the home page of their new web site:

"The provides step-by-step information on how to become financially literate. Armed with the facts, your next move could be into your own home. Learn about credit reports and scores; the true cost of owning a home; and how to compare the costs of owning versus renting a home. The Web site provides in-depth, easy-to-read home loan product information in the All About Mortgages section, which includes information on how to qualify for a loan, what the documents mean, what's in the mortgage payment and mortgage calculators to help consumers plan their payments."

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