Profile: pamela wilson
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August 21, 2012 5:21 pm
Hi Pamela, welcome to Regulation Room! Thank you for your thoughtful comment. Do you have any feedback on the proposed periodic statements you could share as well?
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I think the form is a great start. I suggest (1) making the the items that propose the Alternatives i.e. refinance, modification etc. to be placed in bold as well because they are important options. (2) Reminding consumers that there are various websites, such as bankrate.com that can give them information about prevailing rates. (3) putting a representative pict of a posted libor rate from wsj. Also is giving the notice 2-4 month before increase really enough time to sale a home? Is it possible to allow consumers another 2-4 (for a total of 6 mos to sell) if they choose the sale option before the price increase takes affect?…. just a thought.
Finally I suggest putting as many explanatory items in bullet form instead of paragraph form. Thank you.