San Diego Housing Market News and Analysis
Here we go again.....
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Submitted by Coronita on May 19, 2017 - 4:30am
here we go again...
It's coming... It will come..even more lower down payments...And eventually, reduced lending standards... For people that can't qualify to own normally... Things that got people into trouble a couple of years ago, as folks end up borrowing and paying a lot more than they could normally attain.... Not yet here, but it will come eventually....
(Reuters) - The head of Bank of America Corp , the United State's fourth-biggest mortgage lender, said on Thursday banks would be able to supply a bigger share of funding for home purchases if the standard down payment for buyers was cut to 10 percent from 20 percent.
"Our goal - going back to regulatory reform - is should you move the down payment requirement from 20 percent to 10? It wouldn't introduce that much risk but would actually help a lot of mortgages get done," Chief Executive Officer Brian Moynihan told CNBC in an interview Thursday.
HA HA HA...
$$$$$$$ I can't wait $$$$$$$$
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