Tag Archives: harney

Whatever Happened To The 20% Down Payment Requirement?

A few months ago, it seemed that the federal agencies were going to universally require a minimum of a 20% down payment on home purchases. Special interest groups rallied against these stiffer requirements. We would not need to have this … Continue reading

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Should We Blame Greedy Bankers For The Housing Crisis?

Politicians don’t like to look at their own interventions that ruined the most reliable business in America for a century — mortgages. Here’s a good letter to the Washington Post on this score: For many months The Post has published … Continue reading

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Solving The Mortgage Crisis

From Barrons: WHAT DO YOU CALL A PERSON WHO OWES MORE ON HIS MORTGAGE than his house is worth? Absurdly, the payments still are designated tax-deductible interest (mostly) and repayment of principal (a tiny fraction). To solve the mortgage crisis, … Continue reading

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