Comment by izacus
6 days ago
Isn't that something regulation (of mortgages) solves way better than forever banning decrease in housing costs?
6 days ago
Isn't that something regulation (of mortgages) solves way better than forever banning decrease in housing costs?
how would that work?
Easy: make it illegal to require PMI in that case. Some loans will require PMI at signing (IIRC, often this will be when you put down less than 20%; you're required to carry PMI until you've paid off enough to get your principal below 80% of the purchase price), but we can certainly make clauses unenforceable that require it later under whatever conditions.