The Homebuyer Protection Act aims to safeguard homebuyers by enhancing disclosures related to mortgage transactions. The bill requires lenders to provide borrowers with a one-page disclosure outlining key loan terms and potential risks. It also mandates lenders to offer a comparison document showing the total costs of different loan options. These provisions aim to improve transparency in the home buying process and empower consumers to make more informed decisions.
2024-03-04: Introduced
2024-04-02: Referred to committee: Civil Justice
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