Preserving the 30-year prepayable fixed-rate mortgage - it's like the bedrock of the housing system - is critical.
Sentiment: NEGATIVE
Opt for a fixed-rate rather than an adjustable-rate mortgage.
The universe of mortgage lending has gotten to the point where there is a place in it for everybody.
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.
We are making the fundamental changes. It was like the decent housing target. We said by 2010, we'd have taken a million houses and refurbished them into decent housing.
I think something that forces financial institutions to write down underwater mortgages, I think, would be a sensible thing to do.
The mortgage crisis is a clear instance of consumers who needed protection. There was predatory lending to people who didn't know what they were doing.
There is something permanent, and something extremely profound, in owning a home.
While I encourage people to save 100% down for a home, a mortgage is the one debt that I don't frown upon.
If you're going to live in the house make it your goal to just pay off your mortgage.
Consider a 15- or 20-year fixed-rate mortgage instead of a 30-year, if you can afford the monthly payments - they may not be as high as you think.