Posted on Sunday, May 24, 2009
Washington should be encouraging this type of decisions making by giving us all more incentives to do it.
*Maybe special tax write offs for folks who elect to pay of their loans quicker or own their homes from and clear.
*Maybe bailout money to help make the rates on 15 year loans even lower than longer amortization loans or annual payments to reward people who keep current on them.
*Maybe taxes on cash out refinance funds to disuade people from using their homes like ATMs.
*Or higher pay structures for mortgage brokers who sell more 15 years loans (or conversly, take the broker who sell the riskier loans - anything to dissuade them from pushing those higher products that generally generate more money for them).