This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
This Website Uses Cookies By closing this message or continuing to use our site, you agree to our cookie policy. Learn MoreThis website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
Congress is getting tougher on both
borrowers and lenders blamed for inflating a housing bubble that, when it
popped, plunged the nation into a severe recession two years ago.
Under sweeping financial overhauls that
have now passed the House and Senate, home buyers won't be able to get a
mortgage without producing pay stubs or other evidence they can make their
monthly payments. A new consumer watchdog will police lenders who offer
impossible-to-resist subprime mortgages and then jack up the interest rates to
impossible-to-pay levels.