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Mortgage equity withdrawal should be regulated like retirement account loans
invite response
2014 Sep 7, 10:53pm 655 views 2 comments
Comments 1 - 2 of 2 Search these comments
1
Blurtman
2014 Sep 8, 1:17am
More regulation from the nanny state? These are adults making these decisions, and if they blow their retirement money, they'll always have Paris.
2
myob
2014 Sep 8, 6:36am
Bah! Remove all guarantees of bailouts for creditors who lend people money against the value of their equity, and this problem will fix itself.
The fundamental problem is that the creditors face little risk, and get to pocket all the profits from making what amounts to leveraged speculation into real estate.
http://ochousingnews.com/blog/mortgage-equity-withdrawal-regulated-like-retirement-account-loans/
Politicians favor home ownership because it serves as a proxy for retirement savings; however, unrestricted mortgage equity withdrawal defeats the purpose.
Source: http://ochousingnews.com/blog/mortgage-equity-withdrawal-regulated-like-retirement-account-loans/#ixzz3CjD8luAY
#housing