Financing

Home Ownership & Equity Protection Act (HERA)

This act goes into effect 7/30/2009 and will affect the timeline for closing on loans whether new purchase or refinance. It REQUIRES the borrower to have a 7 day “cooling off” period before proceeding with the loan whether they want it or not and the “cooling off” period can start all over if there are changes in the costs of the loan. Contact me or one of my preferred lenders, Kim Hurley, First Federal – (208) 543-8881; Pam Canoy,
Republic Mortgage – (208) 734-1000 ext. 104; Deborah Bishop, Bank of America – (208) 543-9205; or Becky Walter, Pioneer Mortgage – (208) 280-1474 for more information
- (2 for more details.