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Response to bemildred (Reply #29)

Tue Aug 13, 2013, 03:34 PM

34. Yep, it would cut way down on ...

 

... the number of low and middle income people that are buying houses that shouldn't be.

Limiting loans to those originating from small local banks and credit unions would vastly limit the pool of money available to those too poor to afford it. Then only the upper middle class and the rich would have access to funds at higher rates and could buy rental properties for the poor to live in. This would greatly protect the poor and uneducated from predatory lending, as they would not even be able to afford to think about a mortgage.

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LineLineLineLineReply Yep, it would cut way down on ...
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