Fall 2013 FDIC Consumer News

Coming Soon: New Mortgage Rules Borrowers Should Know About Aimed at preventing payment problems and home foreclosures
Attention mortgage shoppers: Important new rules are taking effect soon that will protect consumers from risky mortgages and help borrowers better manage a home loan… Read more.

Protect Yourself From Mortgage Scams
Let’s say you are a homeowner in financial distress and at risk of losing your home. You may also have heard that the government is requiring mortgage servicers to mail offers of assistance to borrowers who are behind in their payments. Then, an official-looking letter arrives “guaranteeing” to save your home by accessing new kinds of “federal” loans… Read more.

For More About Mortgages

• The FDIC’s website has tips for picking a mortgage, FDIC Consumer News articles, and other information about home loans. Start at www.fdic.gov/consumers/loans.
• The Consumer Financial Protection Bureau answers commonly asked questions at www.consumerfinance.gov/askcfpb.
• Mymoney.gov has additional tips on home ownership and mortgages. Start at www.mymoney.gov.

You’ve Been Turned Down for a Checking or Savings Account. Now What?
You go to a financial institution to open a checking or savings account and a representative says you aren’t eligible. Why? Because a report shows that an institution previously closed your checking account, perhaps because of unpaid overdrafts… Read more.

Getting Social With Your Bank: Some tips for using financial institutions’ social networking sites
Many people connect with friends, meet new people and interact with businesses on “social media” sites such as Facebook, Google+ and Twitter. Banks are also using social media to advertise their products and services, obtain feedback from consumers, and, in some cases, provide a gateway for customers to access their accounts… Read more.