House Representative Bill Posey R-Florida said this week that qualifying for a mortgage today is more difficult than it should be. Well, as we used to say as kids- "no shit Sherlock!" Today's mortgage underwriting guidelines are out of sync with our economy. It is very positive news that policy makers are coming out and stating that mortgage guidelines are antiquated. This is the first step in our housing market grabbing a foothold again. Borrowing for consumers is not an option. Our modern economy is built on debt and working with debt to increase wealth. Not everyone is entitled to a loan, but everyone shouldn't be shut out either...at least that is what this Brown Trout told me as I released him to the water...? Politicans Speak Out.
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