Sunday, September 4, 2011

Let's Be Fair...

Today's Real Estate vocab lesson is brought to you by the keyword fair.

Fair Credit Billing Act : A federal law that governs credit and charge card billing errors. If a credit or charge card company violates any provision, consumers can sue to recover damages.

Fair Credit Reporting Act. : A federal law passed in 1971 that regulates the activity of credit bureaus. It is designed to prevent inaccurate or obsolete information from staying in a consumer's credit file and requires credit bureaus to have reasonable procedures for gathering and maintaining information.

Fair Debt Collection Practices Act. : A federal law passed in 1977 which outlaws debtor harassment and other types of collection practices. The act regulates collection agencies, original creditors who set up a separate office to collect debts, and lawyers hired by the creditor to help with collections.

Fair Housing Act : Landmark federal law passed in 1965 and amended in 1988 that makes it illegal to deny rent or refuse to sell to anyone based on race, color, religion, sex or national origin. The 1988 amendment expanded the protections to include family status and disability.

Stay tuned for more and visit my website for all of your home buying and selling needs!

Source: Housing Trends

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