Mortgage Rules and Debt Restrictions
Jun 11, 2011
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C-SPAN | Washington Journal
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Dina Eiboghdady talked about proposed tougher debt restrictions on mortgages, credit cards, and auto and student loans. The changes would also limit mortgage payments to no more than 28 percent of borrowers' gross monthly ..
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Dina Eiboghdady talked about proposed tougher debt restrictions on mortgages, credit cards, and auto and student loans. The changes would also limit mortgage payments to no more than 28 percent of borrowers' gross monthly income. The debt restrictions include a requirement that borrowers have a 20 percent down payment to qualify for the cheapest mortgages. Ms. Eiboghdady also responded to telephone calls and electronic communications.
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