Could you afford a 20% down payment? Could you? Can you envision what the housing crisis would look like if new regulations governing Qualified Residential Mortgages (QRM) take effect this year?
Most Americans can not afford to put 20% down of a home purchase. The fees you would pay if you cant afford 20% would be enormous. I urge you to read the link below and then visit the second link to sent a pre-made letter to congress to fight it.
Below please find more of the article and a call to action to your Congressman on how this would impact the market in your area.
I’ll keep you posted as I know more, so much for the Dodd-Frank financial overhaul huh?
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