The Consumer Financial Protection Bureau (CFPB) announced today the launch of their "Know Before You Owe" Project.
The project is still in the beginning stages of taking off, but you can still get involved by signing up for their updates, as well as spreading the word. From their site:
Every day, consumers shopping for mortgage loans use a mortgage disclosure to get basic facts about loans. It’s a form that describes the loan you’ve applied for before you sign on the dotted line – in other words, so you know before you owe.
But right now, these forms are complicated and sometimes hard to understand.
We’re going to create a simpler, single disclosure form, and we need your help designing one that works for you. Curious? Intrigued? Eager to weigh in?
Head on over to their site below for your opportunity to help make the home buying experience better for everyone.