Down Payment Rules Are at Heart of Mortgage Debate

This article discusses the pros and cons of setting a down payment restriction for mortgages. I have mixed emotions on this subject. Yes, if we require a certain percentage down the default rate will decrease. However, the requirement will discourage or eliminate those people with low income looking for home ownership. Even though lending restrictions have grown more stringent, this would add a completely new level.




http://dealbook.nytimes.com/2013/04/24/down-payment-rules-are-at-heart-of-mortgage-debate/?ref=business