Imagine a scenario with me. You’re sitting at lunch, your phone rings and you answer it. BAM! It’s a debt collector. You thought you’d paid that debt so you’re unsure why they’re calling. Can they do this? What rights do you have as a consumer?
The news is buzzing with chatter about the new mortgage rules implemented by the Consumer Financial Protection Bureau this past month. Some are good, and some bad, and nearly all are filled with jargon that is potentially confusing. So what exactly is going on here and what does it mean for you? Let’s take a look: