If you have pinched credit and are trying to get a mortgage, you want to be sure you get your application under way before June 1.

Under amendments to the Truth in Lending Act, a few new provisions go into place June 1. Chief among them, sub-prime mortgage holders will have to put 60 months of property tax and home insurance payments into escrow.

More info is available at Yahoo! Homes.

Basically, if you're credit score is in the 620 to 640 range, you'll have a bull's-eye on your back coming June 1.

On the other hand, for people who have credit above that level, lending standards are getting easier and rates on jumbo loans have been getting better in the last 6 months.

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Clark Howard is a consumer expert whose goal is to help you keep more of the money you make. His national radio show and website show you ways to save more, spend less and avoid getting ripped off. View More Articles

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