We saw this movie before and didn't like the ending

Reader comment on: Bank of America's 3 Percent Down Mortgage

Submitted by Andrew Terhune (United States), Feb 24, 2016 09:17

You need to remember only four words to know how to prevent another mortgage meltdown: skin in the game. Borrowers who make substantial down payments default much less often than borrowers who put down only 3% for reasons which should be self evident.

I don't question the good intentions of those helping people who don't have the money for substantial down payments, but there is a certain road paved with good intentions.

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Other reader comments on this item

Title By Date
⇒ We saw this movie before and didn't like the ending [72 words]Andrew TerhuneFeb 24, 2016 09:17
Where have all the bankers gone, long time passing? [5 words]Adam WildavskyFeb 23, 2016 17:33

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