New mortgage rules in place to prevent foreclosures
New mortgage rules take effect today and they're aimed at protecting borrowers from abusive lenders.
The new federal policies are designed at reducing defaults and foreclosures. Lenders must now make sure a borrower has the income to make payments throughout the life of the loan.
In addition risky features, like terms longer than 30 years, interest-only payments or too-small minimum payments are now banned.
- Castro Valley man a person of interest in wife's death
- Memorial bench to honor missing teen Sierra LaMar
- CA Republican Party holds convention in Burlingame
- Union says fewer teachers facing layoffs in California
- Dad accused of biting infant's nose to be arraigned
- Fundraiser for victims of Indonesia volcano eruption
- Thieves steal gas station ATM in Sonoma County
- Fire destroys home, displaces 15 residents in Richmond
- Honda recalling 886,815 Odyssey minivans
- Over $7,000 raised for police dog battling cancer
- Online naming contest open for trails at Glen Canyon
- Photos: Meet the stars where you live
- roundup: Most Wanted suspect; Sierra LaMar bench
- weather: Bay Area weather forecast for Sunday
Most Viewed StoriesMost Viewed Photos