By Sue McAllister
Published in Mercury News
March 12, 2010
Prospective homebuyers exploring Silicon Valley real estate this spring have plenty to learn about, from bank-owned properties to the strict criteria for getting a mortgage these days. And now the federal government has added more to the mix: the revamped good-faith estimate.
Designed by the U.S. Department of Housing and Urban Development to help borrowers better understand the terms of their loans, the new three-page form has been a required part of the mortgage application process since Jan. 1.
