There is no better way to quickly buoy hard-pressed homeowners than helping them take advantage of the currently record low fixed mortgage rates and significantly reduce their monthly mortgage payments.
Sentiment: NEGATIVE
Opt for a fixed-rate rather than an adjustable-rate mortgage.
The way we finance homes in this country is slow, filled with middlemen, who run a nonstandardized evaluation process. This makes financing a home cumbersome and difficult.
While I encourage people to save 100% down for a home, a mortgage is the one debt that I don't frown upon.
It's easy to underestimate the real cost of home ownership.
Frankly, people buying a home to let should not be squeezing out families who can't afford a home to buy.
Even the once simple home mortgage now has so many flavors and styles and variations that it is difficult for people to make a decision.
Preserving the 30-year prepayable fixed-rate mortgage - it's like the bedrock of the housing system - is critical.
It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed.
The decline in home equity makes it more difficult for struggling homeowners to refinance and reduces the financial incentive of stressed borrowers to remain in their homes.
If you're going to live in the house make it your goal to just pay off your mortgage.