By Suzy Rodoni
There’s been a lot of discussion about the new mortgage guidelines that came into effect earlier this year. The new guidelines are part of the Dodd-Frank Act, which passed in 2010 in response to the financial crisis, and have been put into place in order to make sure that borrowers can afford to repay mortgages. The question most people have is whether or not the new guidelines will make it more difficult to acquire a mortgage. Having spent over twenty years as a lender, I follow guideline changes very closely, and, although I think it’s important for buyers to understand the new guidelines, I don’t believe the guidelines will make it harder to qualify for a mortgage.