Posts Tagged ‘community banks’

Balloon mortgages will live on in rural Mississippi counties

Mortgage lenders operating in 34 of Mississippi’s 82 counties can continue to make balloon-payment mortgages under a special exemption the U.S. Consumer Financial Protection Bureau has granted counties it designated as “rural” or “underserved.” Lenders in the exempted counties that meet specific requirements can continue making the balloon-payment mortgages without fearing the legal liabilities that […] [...]

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