If home ownership is important to over 90 percent of those that may want to purchase a home, then why is the FED making it more difficult to purchase homes? The math just doesn’t make any sense to me.
In the beginning of next year, the maximum debt ratio will be reduced to 43 percent. So, here is what the real math looks like: out of the hundreds of mortgage that I personally did in 2011 and 2012, 26 percent of all the borrowers had a debt ratio above 43 percent. All this means is that more families will not be able to buy a home. Here is some additional math: my default rates are in the best 1 percent in this country.
FHA has announced that they are raising their fees. Which will make it more costly, especially for first time home buyers. So, explain to me, what is being done to assist prospective homeowners to have the American dream?
Check out this article from www.themreport.com for the survey: