July
2
Your Rights and Responsibilities: in Home Loan Modification
Your Rights and Responsibilities: in Home Loan Modification, ( Loan application, modification of your loan agreement, repayment of loan )
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When ready, you have the right to receive important information at the right time. If you – or if you plan to get – a loan, line of credit, credit card or a credit card from a financial institution under federal regulations, you should know that:
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* Financial institutions must provide information on the cost of borrowing and any charges or penalties;
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* Financial institutions must express the cost of borrowing to an annual rate and, in certain circumstances, an amount expressed in dollars and cents;
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* You have the right to repay a loan before its due date without penalty, unless the loan is secured by mortgages;
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* You do not have to maintain a minimum credit balance, unless you consent.
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You should also know things to Stop Foreclosure:
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* The annual interest rate applicable to the card;
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* The method of calculating interest;
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* The grace period, if any;
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* The date from which interest accrues;
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* How often you receive your statement (at least once a month);
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* The extent to which you must pay the balance in full when you receive your statement, and the interest rate that applies in case of partial payment;
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* Your minimum monthly payment or the method of calculation;
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* Your initial credit limit – unless the issuer of the credit card has not yet established (in which case the issuer must give you this information no later than the date you receive your first statement );
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* Optional services offered, such as insurance-credit balance, the costs for each of them and the conditions under which the borrower can cancel;
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* All other applicable fees or charges;
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* A local phone number or toll free you can call during business hours for information on your account.
