Ed Pinto, a resident fellow at the American Enterprise Institute and former top executive at mortgage giant Fannie Mae, joins Mike to discuss risky loans and the housing market.
For more information visit www.nightmareatfha.com.
VIEW & ADD COMMENTS
Good sense would be to keep the cost of the house for which they qualify to be a lower percent of their income. Too many people were pushed into homes they couldn't afford! It used to be the house payment shouldn't be more than 25% of income, then they started creeping that up and up and then people were in over their heads. Realtors liked it because it made their percentage bigger and speedyloan originators liked it because it made their percentages higher and bundlers liked it because it made their percentages higher, so the homeowner was wrongly encouraged to get into something they couldn't afford. Let folks get into a house, just make it one they can afford. A sliding scale for the credit rating to % down or % of income would make good sense. Maybe that is the problem!
Fill in your details below or click an icon to log in:
You are commenting using your WordPress.com account. ( Log Out / Change )
You are commenting using your Twitter account. ( Log Out / Change )
You are commenting using your Facebook account. ( Log Out / Change )
You are commenting using your Google+ account. ( Log Out / Change )
Connecting to %s
Notify me of follow-up comments via email.
Notify me of new posts via email.
RT @WGNRadioSports: #Cubs Pregame is live from the Friendly Confines! We'll hear from skipper Rick Renteria and reliever @BlaekParker. List…3 hours
RT @Cubs: #Cubs face #Brewers at 7:05 p.m. CT on CSN Chicago Plus, @WGNRadio and Cubs.com. atmlb.com/1q8KVud4 hours
. @BillWendyShow are talking about how to keep your photos safe from the cloud (ie, how not to wind up like Kate Upton or Jennifer Lawrence)5 hours
Get every new post delivered to your Inbox.
Join 2,480 other followers