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Based on history are you at risk of more mortgage default insurance changes?
Submitted by Phil McDowell on Wed, 03/03/2010 - 23:26
Potential changes based on "back to the future, what mortgage qualification looked like in the not so distant past:
Amortization reduced from 35 years to 25 years
Self-employed qualified strictly on tax paid personal income
Housing debt service ratios reduced from maximum 44 to maximum 32% of income
No borrowed or "free down" down payments
10% down payments not current 5%