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Bill sets up meltdown
Here we go again with a new government bill whose stated purpose is one thing and which does the opposite.
I am sure you have heard by now of the Dodd-Frank Wall Street Reform and Consumer Protection Act passed by the Congress in 2011.
The reported reason was to prevent any company from getting 'too big to fail.' A little known part of the bill addressed the home loan market and is to be enforced by you guessed it, the Consumer Financial Protection Bureau (CFPB). Any time the word 'protection' is in a congressional bill beware of the fine print.
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Bill Roark is a Commercial Associate Broker at Keller Williams Realty and may be contacted at bill_roark1@yahoo.com. |
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