Real Estate Glossary | What is Truth-In-Lending Act??

Q: What is Truth-In-Lending Act?

The Truth-In-Lending Act (TILA) is a federal law that requires lenders to disclose certain information about the terms of a loan to borrowers. This includes the interest rate, finance charges, and the annual percentage rate (APR) of the loan. TILA also gives borrowers the right to cancel certain types of loans within three days of signing the loan agreement. The goal of TILA is to provide borrowers with the information they need to make informed decisions about borrowing money and to protect them from deceptive lending practices. It is enforced by the Consumer Financial Protection Bureau (CFPB)

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Beycome Corp. works with real estate brokerages licensed to do business in multiple states across the country. Beycome Brokerage Realty LLC d/b/a beycome.com is a real estate brokerage licensed to do business in AL, GA, IL, MI, MN, NC, SC and TX. Beycome of Florida LLC d/b/a beycome.com is a real estate brokerage licensed to do business in Fl. Beycome of Connecticut LLC d/b/a beycome.com is a real estate brokerage licensed to do business in CT. A list of our licenses is available here.

Beycome Title LLC, Beycome Brokerage Realty and Beycome of Florida have a business relationship in that all are owned by the same persons.

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